Earnings Releases·Oct 28, 2026, 6:30 AM ET

Parsons Corporation — Third Quarter 2026 Earnings Summary

**Financial Results:** Q3 revenue rose 2% YoY to $1.7 billion (excluding a confidential contract, revenue grew 5%), while net income fell 16% to $54 million due to transaction expenses; however, Adjusted EBITDA reached a record $168 million (up 6%) and Adjusted EPS increased to $0.89.
**Guidance Updates:** Management narrowed and reiterated fiscal 2026 revenue guidance to $6.25–$6.45 billion and Adjusted EBITDA guidance to $510–$550 million, while maintaining operating cash flow guidance of $430–$490 million.
**Backlog and Bookings:** Total backlog hit a record $9.4 billion (up 6% YoY) and contract awards surged 14% to $1.8 billion, driven by a 53% YoY increase in Federal Solutions awards and a consolidated book-to-bill ratio of 1.1x.
**Strategic Actions:** The company executed $110 million in share repurchases over the first nine months, finalized a divestiture of remote-location contracts, and announced the resignation of CFO Matt Ofilos with George Ball appointed as interim CFO.