Quarterly ResultApr 29, 2026, 06:42 AM
PSN Q1 Revenue $1.49B, down 4.1%; EPS $0.49, down 21%
AI Summary
Parsons Corp reported Q1 2026 revenue of $1.49 billion, a 4.1% decrease year-over-year, and diluted EPS of $0.49, an 18.3% decrease. Net income attributable to Parsons Corporation fell by 20.1% to $52.9 million. The company completed the acquisition of Altamira Technologies Corporation for $340 million in cash during the quarter, significantly impacting cash flows and increasing long-term debt, while also reporting $7.1 billion in Remaining Unsatisfied Performance Obligations.
Key Highlights
- Q1 2026 Revenue decreased 4.1% to $1.49 billion from $1.55 billion in Q1 2025.
- Q1 2026 Net Income attributable to Parsons Corp decreased 20.1% to $52.9 million from $66.2 million.
- Q1 2026 Diluted EPS decreased 18.3% to $0.49 from $0.60 in Q1 2025.
- Acquired Altamira Technologies Corporation for $340 million cash on January 14, 2026.
- Long-term debt increased 22.2% to $1.51 billion as of March 31, 2026, from $1.24 billion at Dec 31, 2025.
- Net cash used in operating activities improved to $(3.7) million from $(11.8) million in Q1 2025.
- Remaining Unsatisfied Performance Obligations (RUPO) totaled $7.1 billion as of March 31, 2026.
- Federal Solutions RUPO was $2.12 billion; Critical Infrastructure RUPO was $4.96 billion.