---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-050874"
form_type: "8-K"
ticker: "PSN"
cik: "0000275880"
company_name: "PARSONS CORP"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:22:09.790069+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-050874
- form_type: 8-K
- ticker: PSN
- cik: 0000275880
- company_name: PARSONS CORP
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/275880/000095017024050874/0000950170-24-050874-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/275880/000095017024050874/psn-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-050874
- JSON: https://secwatch.observer/filing/0000950170-24-050874.json
- Plain text: https://secwatch.observer/filing/0000950170-24-050874.txt

## Key facts
- Earnings Releases
  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
  source text: --- 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/275880/000095017024050874/0000950170-24-050874-index.htm

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