Parsons reports record Q1 revenue of $1.2B, up 24% YoY; raises FY2023 guidance

PARSONS CORP

2023-Q1 EPS reported $0.23 revenue$1,173,466,000

Record Q1 revenue $1.2B (+24% YoY); organic growth 12%; net income $26M (+24%).
GAAP EPS $0.23; adjusted EPS $0.43; adjusted EBITDA $90M (+22%).
Book-to-bill 1.2x on $1.4B bookings; total backlog $8.4B (+$186M from Q4'22).
Raises FY2023 revenue guidance to $4.5-4.7B, adjusted EBITDA to $375-415M.
Won $750M State Dept contract, $214M Giant Mine, $164M Army Corps; post-Q1 awarded $1.8B FAA contract.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

PARSONS CORP reported the first quarter ended March 31, 2023 results: revenue $1.2 billion, net income $26 million, EPS $0.23. Guidance raised.

Period: the first quarter ended March 31, 2023
Revenue: $1.2 billion
Net income: $26 million
EPS: $0.23
Guidance: raised
Result: reported results

Exact text from the filing

Exhibit 99.1 Parsons* third quarter 2022 earnings press release Parsons Reports Strong First Quarter 2023 Results Q1 2023 Financial Highlights ▪ Record quarterly revenue of $1.2 billion, representing a 24% increase year-over-year ▪ Record quarterly organic revenue growth of 12% driven by strength in both segments ▪ Record first quarter net income increases by

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Source: SEC EDGAR

accession 0000950170-23-016866

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