Brief: Vse Announces License Agreement With Honeywell And Increases 2023 Aviation Segment Guidance

VSE

04/10/2023 13:11

Oct 4 (Reuters) - VSE Corp  VSEC.O :
    * VSE ANNOUNCES LICENSE AGREEMENT WITH HONEYWELL AND
INCREASES
2023 AVIATION SEGMENT GUIDANCE
    * VSE CORP: ACQUIRED PERPETUAL LICENSE AND ASSET FOR $105
MILLION.
    * VSE CORP: PURCHASE PRICE ALSO INCLUDED $12 MILLION OF
EXISTING
INVENTORY
    * VSE CORP: MAINTAINS ITS OUTLOOK OF POSITIVE FREE CASH FLOW
IN
SECOND HALF OF 2023
    * VSE CORP SEES AVIATION SEGMENT FULL YEAR 2023 REVENUE
GUIDANCE
IS INCREASING FROM 25 TO 30% TO 30 TO 35% GROWTH
    * VSE CORP SEES AVIATION SEGMENT FULL YEAR 2023 ADJUSTED
EBITDA
MARGIN GUIDANCE IS INCREASING FROM 13 TO 15% TO 14 TO 16%
    * VSE CORP: FLEET SEGMENT IS MAINTAINING ITS FULL YEAR 2023
REVENUE GUIDANCE OF 20 TO 25% GROWTH
    * VSE: DEAL TO EXCLUSIVELY MANUFACTURE, SUPPORT SOME OF
HONEYWELL'S FUEL CONTROL SYSTEMS ON FOUR KEY ENGINE PLATFORMS
THROUGH AVIATION BUSINESS

Source text for Eikon:  ID:nBw2qHTB0a 
Further company coverage:  VSEC.O 

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