---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-016866"
form_type: "8-K"
ticker: "PSN"
cik: "0000275880"
company_name: "PARSONS CORP"
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:47:30.247092+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-016866
- form_type: 8-K
- ticker: PSN
- cik: 0000275880
- company_name: PARSONS CORP
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/275880/000095017023016866/0000950170-23-016866-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/275880/000095017023016866/psn-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-016866
- JSON: https://secwatch.observer/filing/0000950170-23-016866.json
- Plain text: https://secwatch.observer/filing/0000950170-23-016866.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/275880/000095017023016866/0000950170-23-016866-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.