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Vectrus Inc. (VEC)
Can Vectrus Reach Its $2.5 Billion Revenue Goal?
- 1Q19 Results. Vectrus reported above expected revenue of $325.9 million in the first quarter, but EPS of $0.62 ($0.69 adjusted) was below expectations. We had forecast $321 million and $0.77, respectively. Vectrus saw particular strength in its European and Middle Eastern markets, which more than offset a weaker U.S. Higher expenses were behind the EPS miss.
- Backlog Remain Strong. The Company ended the quarter with $1.1 billion of funded backlog, up 60% sequentially. Book-to-bill in 1Q19 was 2.0x. Pr...
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