VSE Corporation (NASDAQ:VSEC) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET
Company Participants
Michael Perlman - Vice President, Investor Relations and Communications
John Cuomo - President and Chief Executive Officer
Steve Griffin - Chief Financial Officer
Conference Call Participants
Ken Herbert - RBC
Louie DiPalma - William Blair
Jeff Van Sinderen - B. Riley Securities
Peter Osterland - Truist Securities
Operator
Welcome to the VSE Corporation Second Quarter 2023 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host Michael Perlman. Please go ahead.
Michael Perlman
Thank you, welcome to VSE Corporation's second quarter 2023 results conference call. Leading the call today are John Cuomo, President and CEO; and Steve Griffin, Chief Financial Officer.
The presentation we are sharing today is on our website and we encourage you to follow along accordingly. Today's discussion contains forward-looking statements about future business and financial expectations. Actual results may differ significantly from those projected in today's forward-looking statements due to various risks and uncertainties, including risks described in our periodic reports filed with the SEC.
Except as required by law, we undertake no obligation to update the forward-looking statements. We are using non-GAAP financial measures in our presentation. The appropriate GAAP financial reconciliations are incorporated into our presentation where available, which is posted on our website. All percentages in today's discussion refer to year-over-year progress, except where noted.
As a reminder, beginning in second quarter of 2023, our results exclude the Federal Defense business segment, which has been moved to discontinued operations, due to the announced sale of the business segment. We look forward to welcoming you to our first Investor Day scheduled for November 14th, 2023 in New York City and broadcast virtually. More details will be shared soon. Please contact me with any questions. At the conclusion of our prepared remarks, we will open the line for questions.
With that, I'd like to turn the call over to John.
John Cuomo
Thank you, Michael. Welcome everyone, and thank you for joining our call today. The second quarter was highlighted by record company revenue, which grew 21% in the quarter, driven by contributions and growth in both our aviation and fleet segments.
Let's begin with slide three, where I will provide an update on the performance of our business segment. We delivered another record setting performance in the second quarter, setting the stage for an exceptional year. Operational performance and attractive market conditions supported double-digit revenue growth and improved profitability in both our aviation and fleet segments.