secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0000950170-23-036756
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000095017023036756/0000950170-23-036756-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000095017023036756/psn-20230802.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-036756

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer