VSE Corp. (NASDAQ: VSEC) reported Q1 EPS of $0.83, $0.26 better than the analyst estimate of $0.57. Revenue for the quarter came in at $255.4 million versus the consensus estimate of $239.25 million.

GUIDANCE

VSE is narrowing its full year 2023 revenue guidance and increasing its Adjusted EBITDA margin guidance for its Aviation segment. The new guidance is as follows:

Aviation segment is narrowing its full year 2023 Aviation revenue guidance from 7 to 15% growth to 10 to 15% growth, as compared to the prior year, to reflect an improvement in commercial and business and general aviation markets

Aviation Adjusted EBITDA margin is expected to increase from a range of 12 to 14% to 13 to 15%, driven by an increase in MRO activity and commercial customer demand

The Company is reaffirming its full year 2023 revenue and Adjusted EBITDA guidance for its Fleet segment.

Fleet segment revenue is expected to grow by 12 to 20%

Fleet segment Adjusted EBITDA margin range is 11 to 13%

For earnings history and earnings-related data on VSE Corp. (VSEC) click here.