Parsons reported second-quarter 2026 results with total revenue of $1.576 billion and a GAAP net loss attributable to Parsons of $15.2 million. Adjusted EBITDA including noncontrolling interests was $42.2 million (2.7% margin) and adjusted diluted EPS was $(0.06). The company reported strong booking activity with a 1.2x book-to-bill ratio and total backlog of $9.3 billion.

Financial Highlights

  • Total revenue: $1,575,867 thousand for Q2 2026 (versus $1,584,323 thousand in Q2 2025).
  • Operating income: $1,295 thousand for Q2 2026.
  • Net (loss) income attributable to Parsons: $(15,219) thousand for Q2 2026; GAAP diluted EPS: $(0.14).
  • Adjusted EBITDA including noncontrolling interests: $42,220 thousand for Q2 2026; adjusted EBITDA margin reported at 2.7% (Q2 2026).
  • Adjusted diluted EPS: $(0.06) for Q2 2026 (Adjusted net income attributable to Parsons: $(6,830) thousand on a non-GAAP basis).

Business Highlights

  • Strong contract awards: $1.869 billion in total contract awards in Q2 2026, yielding a book-to-bill ratio of 1.2x for the quarter and a TTM book-to-bill of 1.1x.
  • Backlog expansion: Total backlog increased to $9.257 billion as of June 30, 2026, with funded backlog of $6.581 million? (funded backlog reported as $6.6 billion in release).
  • Segment performance: Critical Infrastructure revenue grew 5% year-over-year (to $815 million) driven by 10% organic growth in the Middle East; Federal Solutions revenue declined 6% year-over-year (to $761 million) but bookings in Federal Solutions rose 51% year-over-year.
  • Major contract wins in the quarter include a $514 million MDA TEAMS extension, multiple Other Transaction Agreements totaling $400 million, a $245 million U.S. Naval Research Laboratory IDIQ, and several other awards across defense, infrastructure, and classified work.
  • Portfolio-shaping actions and joint venture charges were taken in the quarter to prioritize profitable, sustainable growth and manage underperforming programs; these actions drove the reported portfolio-related losses and associated non-GAAP normalization adjustments.

Original SEC Filing:

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