Quarterly ResultJul 29, 2026, 06:31 AM
Parsons Q2 Net Loss $15M, Adj. EBITDA Down 72%; FY26 Guidance Cut
AI Summary
Parsons Corporation reported a net loss of $15 million for the second quarter of 2026, a $70 million decrease year-over-year, primarily due to portfolio-shaping actions and charges on a joint venture program. Adjusted EBITDA also saw a significant 72% decrease to $42 million. Despite these financial declines, the company maintained strong demand with a 1.2x book-to-bill ratio and increased its total backlog to $9.3 billion. Consequently, Parsons revised its fiscal year 2026 guidance downwards for revenue, adjusted EBITDA, and operating cash flow.
Key Highlights
- Q2 2026 net loss of $15 million, a $70 million decrease year-over-year.
- Q2 2026 adjusted EBITDA decreased 72% to $42 million.
- Q2 2026 revenue decreased 1% to $1.6 billion.
- Book-to-bill ratio was 1.2x, with total backlog increasing to $9.3 billion.
- FY26 revenue guidance revised to $6.2 billion - $6.5 billion (from $6.5 billion - $6.8 billion).
- FY26 adjusted EBITDA guidance revised to $500 million - $560 million (from $615 million - $675 million).
- FY26 operating cash flow guidance revised to $430 million - $490 million (from $470 million - $530 million).
- Middle East business achieved 10% organic revenue growth and a 1.1x book-to-bill ratio.
Price Impact
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