secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0001564590-21-053721
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000156459021053721/0001564590-21-053721-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000156459021053721/psn-8k_20211103.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-053721

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