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Wednesday, May 13, 2020
Vectrus (VEC)
Strong 1Q20 Results
Vectrus Inc is a U.S.-based company that provides services to the U.S. government. It operates as one segment and offer facility and logistics services and information technology and network communications services. The information technology and network communications capabilities consist of communications systems operations and maintenance, management and service support, systems installation and activation, system-of-systems engineering and software development, and mission support for the department of defense. The facility and logistics service include airfield management, ammunition management, civil engineering, communications, emergency services, life support activities, public works, security, transportation operations and others.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q20. Revenue of $351.7 million, up 7.9% y-o-y. Consensus was $337 million and we were at $350 million. EPS was $0.74, up from $0.62 in 2019. Consensus was $0.74 and we were at $0.69. Organic revenue growth was 4% and Advantor added $11.2 million. Management estimated COVID impacted revenue by $2.2 million and EPS by $0.02 in the quarter.
Revenue Up in all Geographies and with all Major Customers. Revenue in Europe grew 15% to $32.3 million, U.S. by 14% to $81.4 million, and 5% in the Middle East to $237.9 million. Revenue from the Army grew 9.2% to $247.6 million. The Air Force was up 8% to $73.3 million, and Navy revenue rose 1.0% to $15.2 million. The Company’s focus on enhancing its portfolio of clients and…
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