VSE Aviation Bags Contracts Worth $750 Mln

(RTTNews) - VSE Corp. (VSEC), an aerospace and dense maintenance provider, announced on Monday that its segment VSE Aviation has secured six new distribution agreements with several manufacturers worth around $750 million in total.

The agreements are expected take effect in the first quarter of 2024, with the tenures ranging 1 to 15 years.

The company does not expect these deals to have any impact on the fourth quarter results. They are expected to contribute around $25 million to $30 million of new revenue in 2024 with revenue increasing to more than $50 million in 2025.

On Friday, VSE shares closed at $59.40, up 1.82% on Nasdaq.