Vectrus Announces Second Quarter 2020 Results

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Go back to Vectrus Announces Second Quarter 2020 Results

Vectrus, Inc. (VEC) Misses Q2 EPS by 44c, Revenues Beat; Lowers FY20 EPS/Revenue Guidance Below Consensus

August 11, 2020 4:11 PM EDT

Vectrus, Inc. (NYSE: VEC) reported Q2 EPS of $0.24, $0.44 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $336.1 million versus the consensus estimate of $335.28 million.

"Second quarter results demonstrated solid top line performance, strong new business awards, and favorable cash flow generation despite the impact of COVID-19. Margin and EPS were adversely impacted by one-time closeouts and a contract adjustment to a European program," said Chuck Prow, president and chief executive officer. "The company is working with the client to resolve this issue prior to the next option period in... More