Vectrus, Inc. (VEC) Q1 2022 Earnings Conference Call May 10, 2022 4:30 PM ET

Company Participants

Michael Smith - Director-Investor Relations and Corporate Development

Charles Prow - President and Chief Executive Officer

Susan Lynch - Chief Financial Officer

Conference Call Participants

Joseph Gomes - NOBLE Capital Markets

Tobey Sommer - Truist Securities

Bert Subin - Stifel

Operator

Thank you for joining us for the Vectrus First Quarter 2022 Earnings Conference Call and Webcast. Today's call is being recorded. My name is Gary, and I'll be the operator for today's call. [Operator Instructions]

And now I'll pass the call over to your host, Mike Smith, Vice President of Treasury, Investor Relations and Corporate Development at Vectrus.

Michael Smith

Thank you. Good afternoon, everyone. Welcome to the Vectrus First Quarter 2022 Earnings Conference Call. Joining us today are Chuck Prow, President and Chief Executive Officer; and Susan Lynch, Senior Vice President and Chief Financial Officer.

Slides for today's presentation are available on our Investor Relations website, investors.vectrus.com.

Please turn to Slide 2. During today's presentation, management will be making forward-looking statements pursuant to the safe harbor provisions of the federal securities laws. Please review our safe harbor statements in our press release and presentation materials for a description of some of the factors that may cause actual results to differ materially from the results contemplated by these forward-looking statements. The company assumes no obligation to update its forward-looking statements.

Additionally, I'd like to point out that, in addition to GAAP earnings, we will be discussing and reporting adjusted non-GAAP metrics, including adjusted operating income and margin, adjusted EBITDA and margin, adjusted net income and adjusted diluted earnings per share. The definition of these non-GAAP measures can be found in our presentation materials, press release and Form 10-Q.

At this time, I'd like to turn the call over to Chuck Prow.

Charles Prow

Thank you, Mike. Good afternoon everyone. Thank you for joining us on the call today.

Before we get started, I would like to thank all of our employees and their continued commitment to our clients, our team's demonstrated agility and outstanding performance supporting several of the DoD's most critical and high-profile missions during the quarter. Please turn to Slide 4.

We started 2022 on a strong note with revenue growth across several areas of our business. During the quarter, revenue grew 5% year-over-year and 9% sequentially to $456 million. Revenue growth was driven by the continued phasing of LOGCAP V, continued high OPTEMPO in the region we operate in support of ongoing world affairs as well as the progress made in executing growth in our core programs.