Parsons Corp reported second-quarter 2026 results with revenue essentially flat year‑over‑year at $1.576B, while the company moved to a loss attributable to Parsons of $(15.2)M and diluted EPS of $(0.14) versus a prior‑year profit and $0.5 per share.
Financial Highlights
- Revenue: $1,575,867K for Q2 2026, down from $1,584,323K in the year‑ago quarter ( (0.5%) ).
- Net income: $(15,219)K attributable to Parsons Corporation for Q2 2026, versus $55,230K in the year‑ago quarter.
- Diluted EPS: $(0.14) for Q2 2026, versus $0.50 in the year‑ago quarter.
Business Highlights
- Trailing six‑month revenue declined about 2.3% year‑over‑year, driven by lower volume in Federal Solutions while Critical Infrastructure grew roughly 3.8%–4.6%.
- Federal Solutions activity fell due to a Department of State reorganization and reduced work on a confidential contract, contributing to the channel shift.
- Book‑to‑bill improved to 1.3 year‑to‑date (1.2 overall), reflecting stronger awards and a healthy pipeline of new wins.
- Parsons completed several acquisitions — Altamira, ASC, CTI and TRS — broadening capabilities in defense, intelligence, water and remediation.
- Backlog increased to $9.26B, with about $3.8B of funded backlog expected to convert to revenue within 12 months, providing multi‑year revenue visibility.
Original SEC Filing:
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