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Dec 31, 2023
VSE Q4 2023 Earnings Report
VSE Corporation's Q4 2023 earnings were announced, revealing record revenue and profitability for the Aviation segment, driven by strong program execution and strategic acquisitions.
Key Takeaways
VSE Corporation reported strong Q4 2023 results with a 37% increase in total revenues to $235.3 million and a 62% increase in GAAP net income to $12.8 million. The Aviation segment achieved record revenue, and the Fleet segment continued to diversify its customer base.
Total revenues increased by 37% to $235.3 million.
GAAP Net Income increased by 62% to $12.8 million.
Aviation segment revenue increased by 43% to $153.7 million, driven by strong program execution and acquisitions.
Fleet segment revenue increased by 26% to $81.6 million, with commercial customer revenue up by 72%.
VSE
VSE
VSE Revenue by Segment
Revenue by Segment
Aviation Group Revenue
CapyFin.com Forward Guidance
VSE reaffirms its full year Aviation segment guidance and provides Fleet segment guidance for 2024, anticipating continued revenue growth and profitability.
Positive Outlook
- Aviation segment full year 2024 revenue growth of 24% to 28%, as compared to the prior year.
- Aviation segment Adjusted EBITDA margin expected to be between 15% and 16%.
- Fleet segment full year 2024 revenue growth of 13% to 17%, as compared to the prior year.
- Fleet segment Adjusted EBITDA to increase 8% to 12%, as compared to the prior year.