Vectrus CEO says stop-work order has been lifted on LOGCAP V

By Marjorie Censer

The chief executive of Vectrus, which won two spots on the Logistics Civil Augmentation Program V, said the company is starting transition planning for the program.

In a call with analysts this week, Chuck Prow said the company was "given a lifting of the stop-work [order] and an authorization to begin the transition planning aspects of the of the LOGCAP contract."

"I would summarize by saying we're not completely out of the woods yet from the legal processes, but we are certainly trending in a very positive way and we really look forward to beginning to work with the government and transition planning," he said.

Vectrus won LOGCAP contracts relating to Pacific Command and Central Command.

However, the program has been tied up in multiple legal battles since being awarded last year.

Meanwhile, Vectrus said this week sales in 2019 hit $1.4 billion, up 8% from 2018. The company said it saw increases in Middle East programs as well as growth from its acquisition of Advantor. Profit for the year totaled $34.7 million, down nearly 2%.

Release date

Wednesday, March 4, 2020