---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-036756"
form_type: "8-K"
ticker: "PSN"
cik: "0000275880"
company_name: "PARSONS CORP"
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T15:10:16.076450+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Parsons Q2 record revenue $1.4B, EPS $0.38, raises FY guidance

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-23-036756
- form_type: 8-K
- ticker: PSN
- cik: 0000275880
- company_name: PARSONS CORP
- filed_at: 2023-08-02T23:59:59+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/275880/000095017023036756/0000950170-23-036756-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/275880/000095017023036756/psn-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-036756
- JSON: https://secwatch.observer/filing/0000950170-23-036756.json
- Plain text: https://secwatch.observer/filing/0000950170-23-036756.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/275880/000095017023036756/0000950170-23-036756-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/275880/000095017023036756/0000950170-23-036756-index.htm

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