VSE CORPVSECEarnings & Financial Report
VSE Corporation is a leading provider of aftermarket distribution and repair services. Operating through its two key segments, VSE significantly enhances the productivity and longevity of its customers' high-value, business-critical assets. The aviation segment is a leading provider of aftermarket parts distribution and maintenance, repair, and overhaul (MRO) services for components and engine accessories to commercial, business, and general aviation operators. The fleet segment specializes i...
Revenue
$266.0M
Gross Profit
N/A
Operating Profit
$6.1M
Net Profit
$-2.8M
Gross Margin
N/A
Operating Margin
2.3%
Net Margin
-1.0%
YoY Growth
29.6%
EPS
$-0.16
VSE CORP Q2 FY2024 Financial Summary
VSE CORP reported revenue of $266.0M (up 29.6% YoY) for Q2 FY2024, with a net profit of $-2.8M (down 131.4% YoY) (-1.0% margin).
Key Financial Metrics
| Total Revenue | $266.0M |
|---|---|
| Net Profit | $-2.8M |
| Gross Margin | N/A |
| Operating Margin | 2.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
VSE CORP Q2 FY2024 revenue of $266.0M breaks down across 4 segments, led by Property Distribution at $117.5M (44.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Property Distribution | $117.5M | 44.2% |
| Property Repair | $75.4M | 28.3% |
| Wheeler Fleet Segment | $73.1M | 27.5% |
| Other Government | $1.5M | 0.6% |
VSE CORP Annual Revenue by Year
VSE CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $1.1B).
| Year | Annual Revenue |
|---|---|
| 2025 | $1.1B |
| 2024 | $1.1B |
| 2023 | $544.0M |
| 2022 | $669.4M |
VSE CORP Quarterly Revenue & Net Profit History
VSE CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $301.2M | +0.7% | $13.6M | 4.5% |
| Q3 FY2025 | $282.9M | +3.4% | $3.9M | 1.4% |
| Q2 FY2025 | $272.1M | +2.3% | $3.2M | 1.2% |
| Q1 FY2025 | $256.0M | +6.0% | $-9.0M | -3.5% |
| Q4 FY2024 | $299.0M | +77.5% | $13.1M | 4.4% |
| Q3 FY2024 | $273.6M | +18.3% | $11.7M | 4.3% |
| Q2 FY2024 | $266.0M | +29.6% | $-2.8M | -1.0% |
| Q1 FY2024 | $241.5M | -5.4% | $-6.6M | -2.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $241.5M | $266.0M | $273.6M | $299.0M | $256.0M | $272.1M | $282.9M | $301.2M |
| YoY Growth | -5.4% | 29.6% | 18.3% | 77.5% | 6.0% | 2.3% | 3.4% | 0.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.34B | $1.49B | $1.46B | $1.73B | $1.73B | $1.60B | $1.56B | $2.03B |
| Liabilities | $724.2M | $713.0M | $676.2M | $746.4M | $757.2M | $622.5M | $577.1M | $589.8M |
| Equity | $612.7M | $781.3M | $787.8M | $988.2M | $975.7M | $979.5M | $983.3M | $1.44B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-79.1M | $-17.5M | $10.2M | $55.4M | $-46.6M | $11.9M | $24.1M | $37.6M |