Parsons Corporation (PSN) Tops Q1 EPS by 2c

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Go back to Parsons Corporation (PSN) Tops Q1 EPS by 2c

Parsons Reports First Quarter 2022 Results

May 4, 2022 6:37 AM EDT

Q1 2022 Financial Highlights

Revenue increases 9% year-over-year to $949 million, includes organic growth of 6%Strong revenue driven by Critical Infrastructure organic growth of 8% and Federal Solutions organic growth of 4%Net income increases 129% to $21 millionAdjusted EBITDA increases 8% to $74 millionBook-to-bill ratio of 1.0x in Q1 2022; trailing twelve-month ratio of 1.2x

Strategic Highlights

Reported highest first quarter adjusted EBITDA and operating cash flow since IPOHiring and retention momentum continuesAwarded three contracts each valued at or more than $100 millionNotable ESG recognition, including named as one of the worlds... More