VSE Secures $100M Sole-Source Bridge Contract From US Navy

VSE Corp’s VSEC Federal and Defense segment has secured a 12-month, ~$100 million contract from Naval Sea Systems Command (NAVSEA).
VSE is the current contractor providing Foreign Military Sales Follow-on Technical Support (FOTS) to NAVSEA.
Under the terms of the contract award and in conjunction with NAVSEA’s International Fleet Support Program Office (PMS 326), VSE will continue to support eligible foreign navies with a broad range of aftermarket services.
Price Action: VSEC shares are trading higher by 3.26% at $49.21 on the last check Wednesday.