Parsons Reports First Quarter 2026 Results

Q1 2026 Financial Highlights  Q1 revenue of $1.5 billion decreased 4% year-over-year and 8% on an organic basis Revenue growth of 8% excluding confidential contract; 3% on an organic basis Net income of $53 million decreased $13 million year-over-year Adjusted EBITDA increased 1% to $151 million, a Q1 record Adjusted EBITDA margin expanded 50 basis points to a record 10.1% Cash flow used in operating activities of $4 million, a Q1 record Book-to-bill ratio of 1.4x in both segments extends company streak of TTM book-to-bill ratio of 1.0x or greater in every quarter since IPO Total and funded backlog increased to a record $9.3 billion and $6.6 billion, respectively Reiterating fiscal year 2026 guidance ranges CHANTILLY, Va., April 29, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2026.