VSE Corporation (NASDAQ:VSEC) Q3 2024 Earnings Conference Call November 6, 2024 8:30 AM ET

Company Participants

Michael Perlman - Vice President, Investor Relations & Treasury
John Cuomo - President & Chief Executive Officer
Adam Cohn - Chief Financial Officer

Conference Call Participants

Sheila Kahyaoglu - Jefferies
Ken Herbert - RBC Capital Markets
Michael Ciarmoli - Truist
Jeff Van Sinderen - B. Riley Securities
Noah Levitz - William Blair
Josh Sullivan - Benchmark

Operator

Good day and welcome to the VSE Corporation Third Quarter 2024 Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s remarks, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

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

Michael Perlman

Thank you. Welcome to VSE Corporation's third quarter 2024 results conference call. We will begin with remarks from John Cuomo, President and CEO, followed by a financial update from Adam Cohn, our Chief Financial Officer. 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 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 and posted on our website. 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'd like to turn the call over to John.

John Cuomo

Good morning. Thank you, Michael, and thank you for being a part of today's third quarter conference call. This morning, I would like to first officially welcome Adam, our new Chief Financial Officer, to his first VSE earnings call. Adam joined VSE in early September and has already made a significant impact, providing valuable support for the recently completed equity raise and the negotiation and signing of the Kellstrom acquisition. Adam, it's great to have you as my partner and welcome to the team.

I'd like to begin my prepared remarks by discussing the current market environment for our Aviation segment, followed by an update on our progress to date on our 2024 strategic priorities. The Aviation segment now supports more than 70% of total company revenues. Those revenues are derived from both the commercial and business and general aviation aftermarket.