VSE Corporation reported third quarter 2025 results with total revenues of $282.9 million, representing an increase of 38.9% compared to the same period in 2024. GAAP net income was $3.6 million, down 58.9% from the prior year. Adjusted EBITDA was $47.4 million, an increase of 58.4% year-over-year. Adjusted net income reached $20.5 million, up 110.5% from the previous year. The company reported an adjusted net leverage ratio of approximately 2.0x at the end of the quarter.
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