PSN
Parsons Corporation61.69
+0.08+0.13%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Fed book-to-bill rebound, margin details
Q&A largely reaffirmed scripted strength ex-confidential contract but spotlighted Federal Solutions' expected book-to-bill rebound above 1.0x in 2026, fueled by six $100M+ wins despite shutdown delays. Carey confirmed CI legacy adjustments done, with 20bps margin expansion there outpacing Federal's 10bps—CI fixed-price heavy. Drone Armor reached TRL9, eyeing DHS and FAA beyond State. Middle East stays robust via Expo/World Cup focus, iNet exports. M&A targets nuclear, water. Federal execution matters next.
Key Stats
Market Cap
6.59BP/E (TTM)
28.43Basic EPS (TTM)
2.17Dividend Yield
0%Recent Filings
8-K
Parsons appoints Blue Origin ex-CEO
Parsons Corporation expanded its board to 12 members and appointed Robert H. Smith as a Class I director effective December 1, 2025. Smith, ex-CEO of Blue Origin and current senior advisor to the Department of War's Office of Secretary of War, brings deep aerospace and defense expertise. New board member. He'll receive standard non-employee director cash and equity pay.
8-K
Q3 revenue dips 10%
Parsons reported Q3 revenue down 10% to $1.6B, hit by confidential contract declines, yet Critical Infrastructure surged 18% to $833M with adjusted EBITDA up 83% to $86M. Book-to-bill held at 1.0x; backlog hit $8.8B, 72% funded. Revenue guidance trimmed to $6.4B-$6.5B, but adjusted EBITDA and cash flow steady. Confidential contract weighs heavy.
10-Q
Q3 FY2025 results
Parsons posted Q3 revenue of $1.62B, down 10.4% y/y from $1.81B yet operating income held at $108M (6.7% margin, down from 6.4%). Federal Solutions dropped 28.7% y/y to $789M on reduced confidential contract volume post-Department of State reorganization, while Critical Infrastructure surged 18.3% y/y to $833M via organic growth and acquisitions like CTI (closed June 2025 for $91.5M cash, $58.0M goodwill) and TRS (Jan 2025 for $36.6M cash, $23.0M goodwill). Diluted EPS landed at $0.59, matching 110M shares. Cash fell to $423M after $118M acquisitions and $65M buybacks; $450M term loan (5.3%) funds $750M revolver availability. Operating cash through 9M: $311M. Confidential contract lapses expose award timing risks.
10-Q
Q2 FY2025 results
Parsons Corporation posted Q2 revenue of $1.58B, down 5.2% y/y but up 1.1% q/q (derived), with operating income slipping to $95.7M from $111.4M y/y amid a Federal Solutions pullback, yet Critical Infrastructure surged 14.2% y/y on organic growth and acquisitions. Diluted EPS fell to $0.50 from $0.63 y/y, confirmed against 110.1M shares with no anti-dilution flags. Acquisitions like CTI for $89.2M cash (closed June 2025, $55.3M goodwill) and TRS for $36.6M (closed Jan 2025, $23.0M goodwill) bolstered capabilities, while cash dipped to $411M from $454M y/y and debt rose to $1.32B after refinancing a $450M term loan due 2028 at 5.5%. Operating cash flow hit $148M YTD, yielding $125M free cash flow (derived). Confidential contract termination poses revenue risks.
8-K
Parsons Q2 revenue dips, core grows
Parsons Corporation reported Q2 2025 revenue of $1.6 billion, down 5% year-over-year due to a confidential contract drop, yet core business grew 13% excluding it. Adjusted EBITDA dipped 1% to $149 million, but margins expanded 40 basis points to 9.4% on better program execution and the $89 million CTI acquisition. Backlog hit $8.9 billion with 70% funded. Guidance rose for revenue to $6.48-$6.68 billion and adjusted EBITDA to $595-$635 million. Acquisitions fuel growth, but contract volatility lingers.
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