Parsons Q3 record revenue $1.4B (+25% YoY), net income $47M (+60%), raises FY 2023 guidance

PARSONS CORP

2023-Q3 EPS reported $1.03 revenue$3,948,523,000

Revenue $1.4B (+25% YoY), organic growth 23%; net income $47M (+60%), GAAP EPS $0.42 vs $0.27.
Adjusted EBITDA $128M (+24%), adj. EPS $0.69 vs $0.48; record Q3 cash from ops $204M.
Federal Solutions revenue +26% to $780M; Critical Infrastructure revenue +24% to $638M, adj. EBITDA +51%.
FY guidance raised: revenue $5.175-5.325B, adj. EBITDA $440-460M, cash from ops $300-340M.
Acquired SealingTech (~$200M) in Q3 and I.S. Engineers ($11.5M) post-Q3 to bolster cyber and infrastructure.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PARSONS CORP reported the third quarter ended September 30, 2023 results: revenue $1.4 billion, net income $47 million, EPS $0.42. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $1.4 billion
Net income: $47 million
EPS: $0.42
Guidance: raised
Result: reported results

Exact text from the filing

total revenue for the third quarter of 2023 increased by $284 million, or 25%, to $1.4 billion

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Source: SEC EDGAR

accession 0000950170-23-057101

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