Parsons third quarter revenue hits $1.7 billion
Key points
- Parsons (NYSE:PSN) reported third-quarter 2026 revenue of $1.7 billion, up 2% year over year, while net income declined 16% to $54 million.
- Adjusted EBITDA rose 6% to a record $168 million, with a 10.2% margin, while operating cash flow increased to $269 million.
- Net bookings totaled $1.8 billion, and total and funded backlog reached $9.4 billion and $6.8 billion, respectively; Parsons narrowed its full-year revenue and adjusted EBITDA outlook ranges.
Parsons (NYSE:PSN) reported third-quarter 2026 revenue of $1.7 billion, up 2% year over year, while net income fell 16% to $54 million.
Revenue declined 1% organically, and diluted earnings per share dropped to $0.51 from $0.59, reflecting higher transaction-related expenses.
Adjusted EBITDA rose 6% to a record $168 million, with a record margin of 10.2%, according to the company’s reported results.
Operating cash flow increased to $269 million from $163 million, while net bookings reached $1.8 billion and total backlog rose to a record $9.4 billion.
Parsons narrowed its 2026 revenue outlook to $6.25 billion–$6.45 billion and adjusted EBITDA outlook to $510 million–$550 million, retaining the midpoint of both ranges.
The company maintained its 2026 operating cash flow guidance of $430 million–$490 million and said a definitive agreement covered the divestiture of remote-location contracts, with contract transfer approval being finalized.
