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# V2X's Middle East Revenue Plunges 30% To $240.5 Million As U.S. Work Fills The Hole
- URL: https://www.bullished.co/v2xs-middle-east-revenue-plunges-30-to-240-5-million-as-u-s-work-fills-the-hole-82d52755/
- Published: 2026-11-02T22:18:18.000Z
- Updated: 2026-11-02T22:18:18.000Z
- Description: A $128.9 million one-off national-security project helped U.S. revenue climb 30.6%, covering a Kuwait-driven slide abroad.
- Author: Matteo Parrino
- Tags: SEC Filings, VVX, Industry: Industrials

V2X's Middle East revenue plunged 30.2% to [$240.5 million](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000049/vec-20261002.htm?ref=bullished.co) in the third quarter ended October 2, from $344.6 million a year earlier, according to its 10-Q filed Monday. U.S. revenue rose 30.6% to $894.1 million, and the company credits a $128.9 million increase from discrete activities supporting a national security mission for part of that surge.

## A region swings from growth to decline

[V2X](https://www.bullished.co/tag/vvx/), which provides training, supply chain, communications, base operations and aircraft maintenance services mainly to defense customers, saw total revenue rise 8.9% to $1.27 billion in the quarter. U.S. programs added $209.4 million while Middle East programs shed $104.1 million.

The prior quarter looked different. The [second-quarter 10-Q](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000038/vec-20260703.htm?ref=bullished.co) showed Middle East revenue up 1.3% to $324.6 million, so the region went from growth to a $104.1 million decline in one quarter.

By customer, Army revenue fell 24.8% to $337.7 million. Time-and-materials work, by contrast, rose 470% to $159.9 million.

## The Kuwait task order shrinks

The Kuwait task order, a Logistics Civil Augmentation Program contract, fell to 5.1% of revenue for the first nine months from 10.2% a year earlier. It contributed $193.9 million over that period, versus $333.9 million.

On May 12, the Army cut the order's scope and extended it for six months, to December 31, for $22.6 million. V2X removed $414.6 million from backlog during the quarter ended July 3.

The company doesn't foresee a material hit now, yet its risk factor warns it can't guarantee the cut won't hurt "in the future." It says other programs ramping up offset the cut.

## Backlog, guidance and the funding clock

Remaining performance obligations, firm orders, stood at $3,871 million, and the company expects about 27% to become 2026 revenue. Net income rose 30% to $32.0 million, or $1.01 a share diluted, and V2X [raised its full-year 2026 guidance](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000050/v2xq32026pressreleasefin.htm?ref=bullished.co) to revenue of $4,950 million to $5,100 million.

Government funding runs on a continuing resolution only through December 11, 2026, the same stretch in which the Kuwait extension expires.

The Kuwait extension ends December 31, 2026, and the continuing resolution funding the government expires December 11.

### Sources

- [10-Q Filing — V2X (VVX)](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000049/vec-20261002.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — V2X (VVX), Q2 FY2026 filed 2026-08-03 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000038/vec-20260703.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, v2xq32026pressreleasefin.htm) — V2X, filed 2026-11-02](https://www.sec.gov/Archives/edgar/data/0001601548/000160154826000050/v2xq32026pressreleasefin.htm?ref=bullished.co) — SEC EDGAR
- [V2X Non-GAAP EPS of $1.64 beats by $0.14, revenue of $1.27B beats by $50M (VVX:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4662897-v2x-non-gaap-eps-of-1%5F64-beats-by-0%5F14-revenue-of-1%5F27b-beats-by-50m?ref=bullished.co) — seekingalpha.com
- [V2X wins $105M Army contract modification for Middle East operations (VVX:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4661960-v2x-wins-105m-army-contract-modification-for-middle-east-operations?ref=bullished.co) — seekingalpha.com
- [V2X Inc. (NYSE:VVX) : Articles :: Law360](https://www.law360.com/companies/v2x-inc?article%5Frelated%5Fcontent=1&ref=bullished.co) — law360.com
- [V2X Inc. (NYSE:VVX) : Ttab Cases :: Law360](https://www.law360.com/companies/v2x-inc/ttab%5Fcases?ref=bullished.co) — law360.com
- [V2X, Inc. (VVX) stock price, news, quote and history - Yahoo Finance](https://sg.finance.yahoo.com/quote/VVX/?ref=bullished.co) — Yahoo Finance

### More on V2X

- [V2X Lifts 2026 Revenue Outlook To $5.025 Billion-$5.1 Billion As Third-Quarter Profit Rises 30%](https://www.bullished.co/v2x-lifts-2026-revenue-outlook-to-5-025-billion-5-1-billion-as-third-quarter-profit-rises-2623e1f8/)
- [Army Adds $104.6 Million To V2X Communications Contract, With $16.2 Million Obligated Now](https://www.bullished.co/army-adds-104-6-million-to-v2x-communications-contract-with-16-2-million-obligated-now-a6ce497c/)
- [Vanguard Capital Management Reports 5.17% Passive Stake In V2X](https://www.bullished.co/vanguard-capital-management-reports-5-17-passive-stake-in-v2x-93522d65/)

[All V2X (VVX) coverage →](https://www.bullished.co/tag/vvx/)