VSE Corporation (NASDAQ:VSEC) Q4 2023 Earnings Conference Call March 7, 2024 8:30 AM ET

Company Participants

Michael Perlman - Vice President of Investor Relations and Communications

John Cuomo - President and Chief Executive Officer

Steve Griffin - Chief Financial Officer

Conference Call Participants

Jeff Van Sinderen - B. Riley

Josh Sullivan - The Benchmark Company

Louie DiPalma - William Blair

Samuel Struhsaker - Truist Securities

Operator

Good morning and welcome to VSE Corporation Fourth Quarter and 2023 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mr. Michael Perlman, Vice President of Investor Relations and Treasury. Please go ahead.

Michael Perlman

Thank you, Meghan. Welcome to VSE Corporation's fourth 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 Web site, and we encourage you to follow along accordingly.

Today's discussion contains forward-looking statements about the 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 those described in our periodic reports filed with the SEC. Except as required by law, we undertake no obligation to update our forward-looking statements.

We are using non-GAAP financial measures in our presentation. Where available, the appropriate GAAP financial reconciliations are incorporated into our presentation, which is posted on our Web site. All percentages in today's discussion refer to year-over-year progress, except where noted. At the conclusion of our prepared remarks, we will open the line for questions.

With that, I would like to turn the call over to John.

John Cuomo

Thank you, Michael. Welcome, everyone, and thank you for joining our call today. I am very pleased and proud to speak today, to share both the outstanding record business results from 2023, and the significant progress and updates on our business strategy and transformation. Let's start on slide three of our presentation materials.

First, last week, we announced an agreement to acquire Turbine Controls, or TCI, a leading provider of aviation aftermarket maintenance repair and overhaul support services, supporting complex engine components, as well as engine and airframe accessories. TCI has a strong presence across a large installed base of engine platforms, including those supporting several key next-generation aircraft. The business operates from two MRO centers of excellence in Connecticut and Florida, offering engine component repair and accessory capability, including rotating and static engine components, reduction, transfer, and accessory gearboxes, as well as pneumatic, hydraulic, fuel, and oil accessories.