Earnings Releases·Nov 2, 2026, 4:06 PM ET

V2X — Third Quarter 2026 Earnings Summary

Q3 2026 revenue rose 9% year-over-year to $1.27 billion, while net income and adjusted net income increased 30% and 19% respectively to $32.0 million and $51.7 million.
Full-year 2026 guidance was raised across all key metrics: revenue to $4.95–$5.10 billion, adjusted EBITDA to $352.5–$367.5 million, and adjusted diluted EPS to $6.15–$6.55.
Total backlog reached $12.8 billion with a 1.2x book-to-bill ratio in Q3, driven by a 470% surge in time-and-materials contracts and a 30.6% revenue increase in the U.S.
Net debt improved by $140.3 million year-over-year to $811.7 million, establishing a 2.2x net leverage ratio with a target of approximately 2.0x by year-end.
Management cites strong momentum from recent awards and mission-critical demand to support the increased outlook, though forward-looking non-GAAP measures exclude estimated M&A and integration costs.