secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0001564590-22-036204
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parsons Q3 revenue up 19% to $1.13B; net income up 53%; raises FY2022 guidance
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- Revenue $1,134M (+19% YoY) with organic growth of 11%; Federal Solutions +24%, Critical Infrastructure +13%.
- Net income $30M (+53%); GAAP EPS $0.27 vs $0.18; Adjusted EBITDA $103M (+22%); Adjusted EPS $0.48 vs $0.44.
- Book-to-bill 1.1x on $1.3B net bookings; backlog $8.2B; cash from operations $123M in Q3 (+59% YoY).
- FY2022 guidance raised: revenue $4.05-4.20B, adjusted EBITDA $340-360M, cash flow $255-275M (midpoints up).
- Notable wins: $121M cyber contract option, $120M Middle East cities, $117M FAA services, $104M TEAMS Next.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000156459022036204/0001564590-22-036204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000156459022036204/psn-8k_20221102.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-036204

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