Parsons Corporation (NYSE: PSN) reported Q4 EPS of $0.51, $0.17 better than the analyst estimate of $0.34. Revenue for the quarter came in at $964.25 million versus the consensus estimate of $1.04 billion.

Q4 2020 Highlights

• Revenue of $964 million, includes $45 million of adverse impact from COVID-19
• Net income of $22 million and margin of 2.2%; adjusted EBITDA of $90 million and margin of 9.4%
• Cash flow from operating activities of $176 million
• Book-to-bill ratio of 1.1x for Q4 2020 and on a trailing 12-month basis
• Closed Braxton acquisition; accelerates growth and expands margins in high-priority space market
• Recognized by Forbes as one of the world's best employers and by Ethisphere as one of the world's most ethical companies Fiscal year 2020 Highlights
• Revenue of $3.9 billion, includes approximately $197 million of adverse impact from COVID-19
• Net income of $99 million and margin of 2.5%
• Adjusted EBITDA of $343 million and margin of 8.7%
• Cash flow from operating activities of $289 million
• Commitment to technology innovation and delivering a better world drives new contract wins and ESG recognition

"We delivered robust cash flow and margins, along with a healthy book-to-bill ratio in the fourth quarter. We also generated strong full-year results in the midst of a global pandemic, setting new corporate records for cash flow, adjusted EBITDA, and adjusted EBITDA margin," said Chuck Harrington, chairman and chief executive officer of Parsons Corporation.

"We will continue to build and leverage our strong balance sheet and cash flow to drive growth and differentiation through investments in our people, technology, and M&A. We are excited about our outlook and believe our strategy and portfolio are closely aligned with the Biden Administration's national defense, infrastructure, and environmental priorities. We look forward to providing a more detailed update on our strategy and outlook during our upcoming investor day."

GUIDANCE:

Parsons Corporation sees FY2021 revenue of $3.85-4.05 billion, versus the consensus of $4.23 billion.

For earnings history and earnings-related data on Parsons Corporation (PSN) click here.