Parsons Corporation

Latest Results (14.11.2025):

Parsons Corporation reported its Q3 2025 financial results with a mixed performance profile. Total revenue reached $1.6 billion, down 10% year-over-year and 14% on an organic basis, while net income declined to $64 million. Despite these decreases, adjusted EBITDA reached $158 million (down 5% from Q3 2024), accompanied by a margin expansion of 60 basis points to 9.8%. The report highlights robust growth in the Critical Infrastructure segment, contrasts in Federal Solutions, and a series of significant contract wins that reinforce the company’s strategic positioning across defense, transportation, and modernization initiatives.

Revenue Performance

In Q3 2025, Parsons Corporation saw total revenue decline by 10% compared to Q3 2024. However, excluding a confidential contract, the company achieved a 14% revenue growth, with organic growth of 9%, evidencing operational resilience and market traction in strategic segments.

Net Income and EBITDA

Net income fell to $64 million, an 11% year-over-year decline, while adjusted EBITDA decreased by 5% to $158 million. Notably, despite these declines, the EBITDA margin improved by 60 basis points to 9.8%, driven by improved program performance and accretive acquisitions.

Segment Breakdown

Segment results were mixed for Q3 2025. The Critical Infrastructure segment outperformed with an 18% revenue increase and an 83% jump in adjusted EBITDA, fueled by organic growth and recent acquisitions. In contrast, the Federal Solutions segment experienced a 29% decline in revenue due to lower volume on a fixed price confidential contract and higher investments in bid and proposal activities.

Key Metrics and Contract Wins

Parsons Corporation maintained a book-to-bill ratio of 1.0x and recorded a total backlog of $8.8 billion, with 72% of that funded—the highest since its IPO. In Q3 2025, the company secured several high-value contracts, including a ten-year task order for a modernization project, multi-year defense and security agreements in the Middle East, and significant wins in transportation and infrastructure projects, underscoring its strategic growth and execution capabilities.