Quarterly ResultJul 29, 2026, 06:33 AM
Parsons Revises FY26 Guidance Down; Q2 Net Loss $(15)M
AI Summary
Parsons Corporation reported a Q2 2026 net loss of $(15) million and a 72% decrease in Adjusted EBITDA to $42 million, primarily due to $118 million in charges related to portfolio-shaping actions and a joint venture program. Revenue decreased 1% to $1.6 billion. Despite the financial decline, the company highlighted strong demand with a 1.2x book-to-bill ratio and a 24% increase in contract awards, along with 10% organic revenue growth in the Middle East. However, Parsons revised its fiscal year 2026 guidance downwards for revenue, Adjusted EBITDA, and operating cash flow.
Key Highlights
- Q2 2026 Net Loss: $(15) million, a significant decrease from $55.23 million YoY, impacted by $85 million in charges.
- Q2 2026 Adjusted EBITDA: $42 million, a 72% decrease YoY, including $118 million in charges.
- Q2 2026 Revenue: $1.6 billion, a 1% decrease YoY (5% organic decrease).
- Q2 2026 Book-to-bill ratio: 1.2x, with contract awards increasing 24% year-over-year.
- Total backlog: Increased to $9.3 billion, up $314 million from Q2 2025.
- FY26 Revenue Guidance: Revised down to $6.2 billion - $6.5 billion (from $6.5 billion - $6.8 billion).
- FY26 Adjusted EBITDA Guidance: Revised down to $500 million - $560 million (from $615 million - $675 million).
- Middle East organic revenue growth: 10% with a 1.1x book-to-bill ratio.
Price Impact
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