Parsons Q3 revenue $1.8B (+28%), net income $72M (+52%), raises FY guidance, announces $230M BCC acquisition

PARSONS CORP

2024-Q3 EPS reported $0.31 revenue$5,016,259,000

Record revenue $1.8B (+28% YoY); organic growth 26% (6th consecutive quarter >20%); GAAP EPS $0.65 vs $0.42.
Adjusted EBITDA $167M (+31%); margin 9.2% up 20bps; adjusted EPS $0.95 vs $0.69.
Record operating cash flow $299M in Q3; trailing 12-month OCF $587M (+91%).
Federal Solutions revenue +42% (org 39%), adj. EBITDA +84%; Critical Infrastructure adj. EBITDA -25% on write-down.
Raised FY24 guidance: rev $6.6-6.8B, adj. EBITDA $590-620M, OCF $425-465M; acquired BlackSignal ($204M) & agreed $230M BCC Engineering.

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