---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-21-040485"
form_type: "8-K"
ticker: "PSN"
cik: "0000275880"
company_name: "PARSONS CORP"
filed_at: "2021-08-04T23:59:59+00:00"
generated_at: "2026-06-29T22:50:03.474325+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Parsons Q2 revenue falls 10% to $879M; net income $7M; FY guidance reduced

## Summary
- Q2 revenue $879M (-10% YoY); net income $7M ($0.06 EPS); adjusted EPS $0.32 vs $0.49 prior year.
- Two program reserves ($15.4M legacy CI, $6.9M Federal Solutions) hurt margins; adjusted EBITDA margin 7.5%.
- Record Q2 operating cash flow $104M; record book-to-bill 1.9x (Federal Solutions 2.8x).
- Carey Smith named CEO effective July 1, 2021; Chuck Harrington becomes exec chairman.
- FY2021 guidance cut: revenue $3.6-3.7B (prior $3.85-4.05B), adj. EBITDA $295-315M (prior $350-375M).

## SEC filing metadata
- accession: 0001564590-21-040485
- form_type: 8-K
- ticker: PSN
- cik: 0000275880
- company_name: PARSONS CORP
- filed_at: 2021-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/275880/000156459021040485/0001564590-21-040485-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/275880/000156459021040485/psn-8k_20210804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-21-040485
- JSON: https://secwatch.observer/filing/0001564590-21-040485.json
- Plain text: https://secwatch.observer/filing/0001564590-21-040485.txt

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