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Parsons Corp
F:59P

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Parsons Corp
F:59P
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Price: 48.52 EUR 1.17% Market Closed
Market Cap: €5.2B

Parsons Corp
Investor Relations

Parsons Corp helps governments and large organizations plan, design, and deliver complex infrastructure and national security projects. It works on things like transportation systems, water and environmental projects, cybersecurity, missile defense, and intelligence work. The company is not a contractor that just builds one thing; it often acts as the technical lead that turns a customer’s requirements into a finished system or program. Its main customers are U.S. federal agencies, state and local governments, and some commercial clients with demanding technical needs. Parsons makes money by winning contracts and then charging for engineering, consulting, program management, and systems integration work. Some jobs are long-term service agreements, while others are tied to specific projects or milestones. What makes Parsons different is that it sits close to the hardest parts of public-sector projects: the planning, software, engineering, and management needed to make large systems work. That gives it a role between the owner of a project and the companies that physically build it, which can make it valuable on jobs where safety, security, and technical precision matter more than simple construction.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Apr 29, 2026
AI Summary
Q1 2026

Strong quarter: Parsons reported 8% total revenue growth, record adjusted EBITDA margin of 10.1%, and record first-quarter cash flow, while reaffirming full-year 2026 guidance.

Bookings surge: Contract awards rose 17% year over year to $2 billion, driving a 1.4x book-to-bill in both segments and record total and funded backlog of $9.3 billion and $6.6 billion.

Middle East resilient: Management said the regional conflict has not yet disrupted funding or awards, and reiterated 8.5% organic growth for the Middle East for the year.

Defense tailwind: Parsons highlighted growing demand tied to U.S. defense budgets, including missile defense, cyber, space, counter-UAS, and munitions-related programs.

M&A active: The company closed Altamira in the quarter and said M&A remains its top capital deployment priority, with 2 to 4 deals expected in 2026.

Second-half weighted: Management lowered second-quarter expectations due mainly to timing of awards and Middle East phasing, but still expects a stronger second half as recent wins ramp.

Key Financials
Revenue
$?
Organic revenue
3%
Adjusted EBITDA
$151 million
Adjusted EBITDA margin
10.1%
Contract awards
$2 billion
Book-to-bill
1.4x
Total backlog
$9.3 billion
Funded backlog
$6.6 billion
Funded backlog share
71%
Free cash conversion
102%
Operating cash flow
-$4 million
Capital expenditures
$15 million
Net debt leverage ratio
2.0x
Net DSO
72 days
Share repurchases
583,000 shares
Share repurchases cost
$35 million
Altamira acquisition value
up to $375 million
Altamira upfront cash consideration
$330 million
FAA TSSC 5 contract
$593 million
FAA TSSC 5 booked in Q1
$410 million
FAA TSSC 5 ceiling
$1.8 billion
Cyber Hunt Kit ceiling
up to $500 million
Cyber Hunt Kit booked in Q1
$250 million
Middle East transportation contract
over $340 million
Middle East transportation booked in Q1
over $300 million
GARDEM contracts
more than $145 million
GARDEM booked in Q1
$38 million
Mine reclamation contracts
$150 million
Post-Q1 awards
$400 million
Post-Q1 classified IDIQ ceiling
$184 million
Post-Q1 contract increase
$87 million
Pipeline
$54 billion
Win rate
60%
Contract wins not yet booked
$11 billion
Federal Solutions revenue growth ex confidential
6.6%
Critical Infrastructure revenue growth guidance
6.1%
Federal Solutions first-half organic growth guidance
about 4%
Federal Solutions second-half organic growth guidance
9%
Critical Infrastructure first-half organic growth guidance
3%
Critical Infrastructure second-half organic growth guidance
9%
Middle East organic growth guidance
8.5%
Q2 book-to-bill expectation
north of 1.0x
Earnings Call Recording
Other Earnings Calls

Management

Ms. Carey A. Smith
President, CEO & Chairwoman
No Bio Available
Mr. Matthew M. Ofilos
Chief Financial Officer
No Bio Available
Mr. Michael R. Kolloway J.D.
Chief Legal Officer & Secretary
No Bio Available
Ms. Susan M. Balaguer
Chief Human Resources Officer
No Bio Available
Ms. Wendy Van Wickle
Chief Business Operations Officer
No Bio Available
Mr. Ricardo Lorenzo
Chief Technology Officer
No Bio Available
Mr. David Spille
Senior Vice President of Investor Relations
No Bio Available
Mr. Pierre Santoni
President of Infrastructure EMEA
No Bio Available
Mr. Hector Cuevas
Executive VP of Missile Defense & C5ISR Market Leader
No Bio Available
Richard Aves
Executive Vice President of Space & Geospatial
No Bio Available

Contacts

Address
VIRGINIA
Centreville
5875 Trinity Pkwy Ste 300
Contacts
+17039888500.0
www.parsons.com
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