Parsons Corporation (PSN) Misses Q3 EPS by 2c; Offers FY22 Revenue Guidance

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Go back to Parsons Corporation (PSN) Misses Q3 EPS by 2c; Offers FY22 Revenue Guidance

Parsons Reports Strong Third Quarter 2022 Results

November 2, 2022 6:30 AM EDT

Q3 2022 Financial Highlights

Revenue increases 19% year-over-year to $1,134 million, includes organic growth of 11%Organic revenue growth driven by both segments: Critical Infrastructure 13% and Federal Solutions 10%Net income increases 53% to $30 millionAdjusted EBITDA increases 22% to $103 millionCash flow from operations increases 59% year-over-year, and 28% for the first nine months of 2022Book-to-bill ratio of 1.1x on contract awards growth of 21%Increasing midpoints of 2022 revenue, adjusted EBITDA, and cash flow guidance ranges

CENTREVILLE, Va., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the third... More