Parsons Q1 revenue $1.5B +31% YoY; net loss on convertible note charge; guidance raised

PARSONS CORP

2024-Q1 EPS reported -$1.01 revenue$1,535,676,000

Record revenue $1.5B (+31% YoY), organic growth 29%; net loss $107M due to $214M pre-tax charge on convertible note repurchase.
Adjusted EBITDA $141M (+56%), margin 9.2% (+150bps); adjusted EPS $0.70 vs $0.43 YoY.
FY2024 guidance raised: rev $6.1-6.4B (prior $5.8-6.0B), adj. EBITDA $535-575M (prior $505-545M), cash ops $380-440M.
Federal Solutions rev +43%, adj. EBITDA margin 10.2%; Critical Infrastructure rev +16%, margin 7.7%.
Book-to-bill 1.4x; total backlog $9.0B (+8%); key wins: Hudson Tunnel delivery partner, $970M options, $1B NNSA IDIQ.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARSONS CORP reported the first quarter ended March 31, 2024 results: revenue $1.5 billion, net income Net loss of $107 million, EPS ($1.01). Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $1.5 billion
Net income: Net loss of $107 million
EPS: ($1.01)
Guidance: raised
Result: reported results

Exact text from the filing

--- EX-99.1 Exhibit 99.1 Parsons* third quarter 2022 earnings press release Parsons Reports Strong First Quarter 2024 Results Q1 2024 Financial Highlights ▪ Record revenue of $1.5 billion increases 31% year-over-year ▪ Record first quarter organic revenue growth of 29%, including four consecutive quarters with organic growth above 20% ▪ Net loss of $107 million

View on SEC.gov

1436 earnings releases filed in the last 30 days. Browse all earnings releases →

PARSONS CORP filing history →

Source: SEC EDGAR

accession 0000950170-24-050874

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.