VSE Corporation — Third Quarter 2026 Earnings Summary

VSE Corporation reported record third-quarter 2026 results with total revenues reaching $541.0 million, a 91.2% increase from the prior year, driven by the full impact of the Precision Aviation Group acquisition and the recent purchase of Atech Turbine Components. The company achieved a GAAP net income of $47.3 million and an adjusted EBITDA of $107.2 million, resulting in an adjusted EBITDA margin of 19.8%. Management raised its full-year 2026 revenue growth guidance to 65-66.5% and adjusted EBITDA margin guidance to 18.9-19.1% based on strong organic growth and synergies. The company generated $46.6 million in free cash flow for the quarter and ended with an adjusted net leverage ratio of approximately 2.3x.