Parsons Reports Second Quarter 2026 Results

Key Takeaways * Continued strong demand with 24% year-over-year increase in contract awards and a 1.2x book-to-bill ratio for the quarter, positioning the company for continued success * Middle East resiliency with 10% organic revenue growth and a 1.1x book-to-bill ratio * Portfolio-shaping initiatives implemented to prioritize profitable, sustainable growth and enhance long-term shareholder value Q2 2026 Financial Highlights * Book-to-bill ratio of 1.2x, exceeded 1.0x in both segments and continued streak of TTM book-to-bill ratio of 1.0x or greater in every quarter since 2019 IPO. Federal Solutions bookings increase 51% year-over-year * Significant Q2 2026 wins underscore Parsons strategic positioning and technology leadership * Q2 revenue of $1.6 billion decreased 1% year-over-year and 5% on an organic basis, in-line with expectations * Revenue growth of 8% excluding confidential contract and portfolio-shaping actions; 3% on an organic basis * Net income of ($15 million) decreased $70 million year-over-year. Net income was impacted by a net loss of $85 million on programs relating to the company’s portfolio-shaping actions and charges on a joint venture program * Adjusted EBITDA decreased 72% to $42 million. Excluding $118 million of charges, adjusted EBITDA of $161 million increased 8% year-over-year * Adjusted EBITDA margin contracted 670 basis points to 2.7%. Excluding the impact of charges, adjusted EBITDA increased 70 basis points to 10.1% * Total and funded backlog increased to $9.3 billion and $6.6 billion, respectively * Revising fiscal year 2026 guidance ranges CHANTILLY, Va., July 29, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the second quarter ended June 30, 2026.