secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2025-11-05T23:59:59+00:00
Accession:  0001193125-25-265650
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parsons Q3 revenue down 10% to $1.6B; net income slides 11%; margin expands 60 bps
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- GAAP EPS $0.59 vs $0.65; adjusted EPS $0.86 vs $0.95; net income $64M, down 11% YoY.
- Revenue $1.6B, down 10% total and 14% organic; ex-confidential contract, up 14% total and 9% organic.
- Critical Infrastructure revenue +18%, adjusted EBITDA +83% to $86M; Federal Solutions revenue -29% (ex-confidential +9%).
- Backlog $8.8B (72% funded, highest since IPO); book-to-bill 1.0x; TTM book-to-bill 1.0x for 6th straight year.
- FY2025 revenue guidance lowered to $6.4-6.5B (from $6.48-6.68B); adjusted EBITDA and cash flow guidance reiterated at mid-point.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000119312525265650/0001193125-25-265650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000119312525265650/psn-20251105.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-265650

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