AcquisitionsMay 5, 2026, 04:52 PM
VSE Corp Acquires Precision Aviation Group; Q1 Revenue Up 26.8%
AI Summary
VSE Corporation announced record first-quarter 2026 results, with total revenues increasing 26.8% to $324.6 million and GAAP Net Income up 108.0% to $29.1 million. The company also completed the acquisition of Precision Aviation Group (PAG) for $2.025 billion and NorthStar Technologies, LLC, expanding its global footprint and MRO capabilities. Consequently, VSE updated its full-year 2026 guidance to reflect the inclusion of PAG, projecting revenue growth of 57% to 61% and an Adjusted EBITDA margin of 18.1% to 18.5%.
Key Highlights
- Acquired Precision Aviation Group (PAG) for $2.025 billion in cash and equity on May 5, 2026.
- Acquired NorthStar Technologies, LLC on April 1, 2026, expanding MRO and logistics services.
- Q1 2026 Total Revenues increased 26.8% to $324.6 million.
- Q1 2026 GAAP Net Income increased 108.0% to $29.1 million.
- Q1 2026 GAAP EPS (Diluted) increased 55.2% to $1.04.
- Updated full-year 2026 revenue guidance to 57%-61% growth, including PAG.
- Updated full-year 2026 Adjusted EBITDA margin guidance to 18.1%-18.5%.
- Completed follow-on equity, tangible equity unit offerings, and debt refinancing for PAG acquisition.