Parsons Q3 revenue down 5% YoY to $956M; adjusted EBITDA margin 8.8%

PARSONS CORP

2021-Q3 EPS reported $0.33 revenue$2,710,103,000

Revenue $956M (-5% YoY); net income $19M ($0.18 EPS) vs $0.40 YoY; adjusted EPS $0.44.
Adjusted EBITDA $84M (8.8% margin) down 16% YoY; $12.2M write-downs on two legacy CI programs.
Record backlog $8.6B (+10.4% YoY); book-to-bill 1.1x Q3, 1.3x TTM; five contract wins >$100M each.
Cash from ops $77M in Q3; FY2021 guidance reiterated: rev $3.6-3.7B, adj. EBITDA $295-315M.
Completed acquisitions BlackHorse Solutions and Echo Ridge; authorized $100M buyback; repurchased $8.7M in Q3.

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