VSE CORP

VSE Corporation held its 2026 Annual Meeting of Stockholders on May 7, 2026, where all four proposals were approved. Stockholders elected eight directors, ratified Grant Thornton LLP as the independent auditor for 2026, and approved the non-binding advisory vote on executive compensation. Additionally, an amendment to the Certificate of Incorporation to authorize the issuance of blank check preferred stock was approved. The Board of Directors also declared a quarterly cash dividend of $0.10 per share, payable on July 29, 2026, to stockholders of record as of July 15, 2026.

VSE Corporation reported a significant increase in net income to $29.06 million for Q1 2026, compared to a net loss of $8.97 million in Q1 2025, with total revenues rising to $324.58 million from $256.05 million. The company's cash and cash equivalents surged to $1.24 billion. This quarter reflects the company's ongoing transformation to a pure-play aviation business, including adjustments for the Aero 3 acquisition and the recent establishment of a new $900 million term loan facility and an expanded $500 million revolving credit facility.

VSE Corporation announced the completion of its acquisition of Precision Aviation Group (PAG) for approximately $2.025 billion. The deal, which closed on May 5, 2026, involved $1.75 billion in cash and $275 million in equity, with a potential additional $125 million earnout. This strategic acquisition is expected to significantly expand VSE's global footprint and repair capabilities, increasing its revenue by about 50% on a pro forma 2025 basis and immediately improving Adjusted EBITDA margins. The transaction was financed through VSE's February 2026 equity and tangible equity unit offerings, alongside a new $900 million Term Loan B facility and an upsized revolving credit facility.

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%.