8-K
filed August 2, 2023, 7:59 PM ET
ticker PSN
CIK 0000275880
earnings
confidence high
sentiment positive
materiality 0.80
Parsons Q2 record revenue $1.4B, EPS $0.38, raises FY guidance
PARSONS CORP
2023-Q2 EPS reported
$0.61
revenue$2,529,952,000
- Record revenue $1.4B (+34% YoY), organic growth 23%, net income $43M (+136%), GAAP EPS $0.38.
- Adjusted EBITDA $118M (+53%), margin 8.7% (up 100 bps), adjusted EPS $0.63 vs $0.41.
- Book-to-bill 1.4x on $1.9B awards, total backlog $8.9B (+8% YoY), six contracts >$100M each.
- Raised FY2023 guidance: revenue $4.85-5.05B, adjusted EBITDA $410-440M, operating cash flow $280-340M.
- Federal Solutions revenue +42% (incl Xator), CI revenue +26% organic 25%, but CI margin down due to $28M write-downs on two legacy programs.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
PARSONS CORP reported Q2 2023 results: revenue $1.4 billion, net income $43 million, EPS $0.38. Guidance raised.
- Period
- Q2 2023
- Revenue
- $1.4 billion
- Net income
- $43 million
- EPS
- $0.38
- Guidance
- raised
- Result
- reported results
Exact text from the filing
Record revenue of $1.4 billion increases 34% year-over-year ▪ Record organic revenue growth of 23% driven by record organic growth in both segments ▪ Significant second quarter net income of $43 million increases 136% ▪ Record adjusted EBITDA increases 53% to $118 million ▪ Strong book-to-bill ratio of 1.4x on contract awards growth of 95% ▪ Record total backlog increases 8% to $8.9 billion ▪ Increasing 2023 guidance ranges for revenue, adjusted EBITDA, and cash flow from operations
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
PARSONS CORP reported quarter ended June 30, 2023 results: revenue $1.4 billion, net income $43 million, EPS $0.38. Guidance raised.
- Period
- quarter ended June 30, 2023
- Revenue
- $1.4 billion
- Net income
- $43 million
- EPS
- $0.38
- Guidance
- raised
- Result
- reported results
Exact text from the filing
All Rights Reserved. 2 Parsons* third quarter 2022 earnings press release Parsons Reports Strong Second Quarter 2023 Results Q2 2023 Financial Highlights ▪ Record revenue of $1.4 billion increases 34% year-over-year ▪ Record organic revenue growth of 23% driven by record organic growth in both segments ▪ Significant second quarter net income of $43 million
View on SEC.gov
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