Parsons Corporation (PSN) Tops Q2 EPS by 2c; Raises FY Revenue Outlook

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Go back to Parsons Corporation (PSN) Tops Q2 EPS by 2c; Raises FY Revenue Outlook

Parsons Reports Second Quarter 2022 Results; Momentum and Strategic M&A Continues

August 3, 2022 6:30 AM EDT

Q2 2022 Financial Highlights

Revenue increases 15% year-over-year to $1,009 million, includes organic growth of 9%Organic revenue growth driven by both segments: Federal Solutions 11% and Critical Infrastructure 8%Net income increases 173% to $18 millionAdjusted EBITDA increases 18% to $77 millionBook-to-bill ratio of 1.0x in Q2 2022

Strategic Highlights

Completed strategic and financially accretive Xator acquisitionHiring and retention remain strongMatt Ofilos promoted to CFO; George Ball and Ellen Lord appointed to Board of DirectorsNotable ESG recognitionIncreasing fiscal year 2022 guidance for total revenue and adjusted EBITDA,... More