Parsons Q3 revenue rises 2%, beats analyst estimates
PSN•Parsons reported third-quarter revenue of $1.65 billion, up 2% and above the $1.63 billion analyst estimate. Adjusted EPS was $0.89 and adjusted EBITDA was $168 million, both above estimates; the company narrowed its 2026 revenue guidance to $6.25 billion-$6.45 billion.
1. Quarterly results
Parsons said third-quarter revenue rose 2% to $1.65 billion, beating analyst expectations of $1.63 billion. Adjusted EPS of $0.89 topped the $0.79 estimate, and adjusted EBITDA of $168 million exceeded the $161.93 million estimate. Net income was $54 million, down $10 million due to higher transaction-related expenses.
2. Guidance and drivers
Parsons narrowed its 2026 revenue guidance to $6.25 billion-$6.45 billion and expects adjusted EBITDA of $510 million-$550 million. It maintained its operating cash flow outlook at $430 million-$490 million. The company cited a 14% year-over-year increase in contract awards, record total and funded backlog up 6% and 7%, respectively, and stronger program execution and acquisitions as drivers of results.
3. CFO transition
Parsons also announced a transition involving its chief financial officer.
