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Sep 30, 2022
VSE Q3 2022 Earnings Report
VSE delivered a strong quarter with growth in revenue, profitability and free cash flow.
Key Takeaways
VSE Corporation reported a 21% increase in total revenues, reaching $242.5 million, and a GAAP net income of $9.4 million for the third quarter of 2022. The company's Aviation segment saw significant revenue and adjusted EBITDA growth, while the Fleet segment experienced growth in commercial revenue. VSE also announced new business and expanded distribution agreements.
Total revenues increased by 21% to $242.5 million.
GAAP Net Income decreased 4% to $9.4 million.
Aviation segment revenue increased 40% with an 86% increase in adjusted EBITDA.
Fleet segment commercial revenue increased 23% year-over-year.
VSE
VSE
Forward Guidance
VSE did not provide specific forward guidance in this earnings report.