Wednesday, May 12, 2021
Vectrus (VEC)
Strong First Quarter 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.
1Q21 Results. Vectrus’ 1Q21 revenue was $434 million, up 23% y-o-y, with organic growth of 4%. Adjusted EBITDA was $20.7 million, up from $14.7 million last year. Adjusted EBITDA margin increased 60 basis points to 4.8%. EPS was $1.02 compared to $0.74, while adjusted EPS was $1.20 in 1Q21 versus $0.82 last year. We had forecast revenue of $400 million, adjusted EBITDA of $19.3 million, and EPS of $0.89.
Winning Never Gets Old. Vectrus continued to be award significant contracts during the first quarter. Significantly, a number of the contracts play into the Company’s converged infrastructure market leadership position. The contract wins continue to diversify Vectrus’ client base and geographical locations …
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
