#USA #financial results #Reston #V2X #Q1 2026

V2X, Inc. Reports First Quarter 2026 Results

On May 4, 2026, V2X, Inc. (NYSE: VVX) provided investors with an encouraging update regarding its financial performance in the first quarter of 2026. The company reported substantial growth across several key metrics, signaling a robust start to the year.

Financial Highlights

In the first quarter, V2X achieved:

• - Revenue: $1.25 billion, marking a 23% increase year-over-year.
• - Net Income: $18.9 million, with Adjusted Net Income reaching $48.1 million, up 53% compared to the same quarter last year.
• - Adjusted EBITDA: $85.6 million, resulting in an Adjusted EBITDA margin of 6.8%.
• - Diluted Earnings Per Share (EPS): $0.60, while Adjusted diluted EPS increased 55% to $1.53.

The company’s impressive growth reflects its strategic alignment with national security priorities, as highlighted by its President and CEO, Jeremy C. Wensinger. V2X secured around 50 awards during the quarter, summing up to approximately $4.1 billion, driving its backlog to a record $13.8 billion.

Increased Guidance for 2026

Further illustrating its strong performance trajectory, V2X has updated its 2026 guidance:

• - Revenue adjusted from $4.675 billion to a new range of $4.825 billion to $4.975 billion.
• - Adjusted EBITDA guidance increased to between $345 million and $360 million.
• - Adjusted Diluted EPS forecast revised to a range of $5.75 to $6.15.
• - Adjusted net cash provided by operating activities forecast upped to between $160 million and $180 million.

Wensinger noted that V2X's strong balance sheet would allow the company to continue investing in innovation, which is critical to enhancing global operations and delivering exceptional value to both customers and shareholders.

Operational Insights

During the first quarter, V2X reported a marked year-over-year increase in adjusted EBITDA, showing a strong operating performance. The net cash used in operating activities for the quarter was $129.9 million, while adjusted net cash used was $22.1 million.

V2X's net debt at the end of the quarter was $895.4 million, showing a notable improvement of $77 million year-over-year, indicating a net leverage ratio of 2.5x. Management expects to achieve a net leverage ratio below 2.0x by the end of 2026.

In terms of service diversification, about 24.4% of its revenue came from prime contracting activities, with a substantial portion attributed to service contracts with the U.S. Army, Navy, and Air Force. The company experienced substantial growth across various sectors, with the total revenue categorized by customer reflecting significant increases, especially with the Air Force, where revenue jumped 69.3% year-over-year.

Looking Forward

As V2X moves forward, the company remains committed to its mission of integrating people, actions, and technology to enhance national defense and security capabilities. With a dedicated workforce of around 16,200 professionals, V2X's focus on deploying AI and machine learning technologies positions it to meet the evolving challenges in both domestic and international markets.

Investors and analysts are encouraged to participate in the upcoming conference call to further discuss these results. With its synergistic approach and robust financials, V2X sets a positive precedent within the industry as it embraces a future filled with potential growth and innovation.