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Parsons Corporation (PSN) Presents at Jefferies Global Industrials Conference 2026 Transcript

Highlander Partners L.P. trimmed its holdings in shares of Parsons Corporation (NYSE:PSN – Free Report) by 52.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,400 shares of the company’s stock after selling 133,500 shares during the period. Parsons comprises approximately 2.1% of Highlander Partners L.P.’s investment portfolio, making the stock its 14th biggest position. Highlander Partners L.P. owned approximately 0.11% of Parsons worth $6,413,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Parsons by 10.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,892,400 shares of the company’s stock worth $102,494,000 after purchasing an additional 179,463 shares during the period. Swedbank AB lifted its holdings in shares of Parsons by 654.7% during the fourth quarter. Swedbank AB now owns 1,052,541 shares of the company’s stock valued at $65,047,000 after purchasing an additional 913,079 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Parsons in the 2nd quarter valued at $9,053,000. Bastion Asset Management Inc. acquired a new position in shares of Parsons in the 4th quarter valued at $8,044,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Parsons in the 4th quarter valued at $1,853,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Insider Buying and Selling at Parsons In related news, Director George Ball purchased 20,000 shares of Parsons stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $47.97 per share, with a total value of $959,400.00. Following the completion of the transaction, the director directly owned 170,383 shares of the company’s stock, valued at $8,173,272.51. This trade represents a 13.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.31% of the stock is owned by corporate insiders.

Parsons Stock Down 0.1% NYSE:PSN opened at $47.55 on Monday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 3.60 and a beta of 0.71. Parsons Corporation has a 1-year low of $36.26 and a 1-year high of $89.50. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average price is $51.12 and its 200 day moving average price is $54.21. Parsons (NYSE:PSN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.82). Parsons had a return on equity of 8.10% and a net margin of 2.50%.The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Parsons Corporation will post 2.29 earnings per share for the current fiscal year.

Analyst Ratings Changes Several research firms have issued reports on PSN. The Goldman Sachs Group cut their price objective on Parsons from $69.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. William Blair reiterated an “outperform” rating on shares of Parsons in a report on Wednesday, July 29th. Zacks Research downgraded shares of Parsons from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 5th. Robert W. Baird upgraded shares of Parsons from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $57.00 in a report on Friday, August 21st. Finally, Barclays cut their price target on shares of Parsons from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.08.

Get Our Latest Analysis on Parsons

About Parsons (Free Report)

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.

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 | Source: Parsons Services Company

CHANTILLY, Va., Sept. 03, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session at the 2026 Jefferies Global Industrials Conference on Wednesday, September 9, 2026, at approximately 9:30 a.m. Eastern Time.

The presentation will be available live via webcast on the investor relations section of Parsons’ website (https://investors.parsons.com). A replay of the webcast will be available on the website following the presentation for 30 days.

About Parsons Corporation

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Contacts:   MediaInvestor RelationsBernadette MillerDave SpilleParsons CorporationParsons Corporation+1 980.253.9781+1 [email protected]@Parsons.us

Key Takeaways

SealingTech, a Parsons company, is the sole prime contractor awardee for USCYBERCOM's JCHK. The agreement is for five years with a ceiling value of $750M. This effort reflects SealingTech's broader expertise in rapid design, integration, and ability to deliver deployable hardware technologies that enable organizations to operate effectively in connected, disconnected, and contested environments in the cyber domain. Leveraging years of experience designing portable edge compute and Cyber Fly-Away Kit technologies, SealingTech created a modular, transportable hardware platform. , /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and trusted provider of high-performance edge hardware and software products, received a five-year sole-source Other Transaction Agreement (OTA) production contract from United States Cyber Command (USCYBERCOM) to begin full-rate production of the Joint Cyber Hunt Kit (JCHK). The agreement, valued at up to $750 million, demonstrates SealingTech's ability to deliver advanced, deployable hardware and software solutions at scale.

"This award is a testament to the hard work and passion of our entire team," said Jake Nelson, SealingTech Vice President and General Manager. "As the sole provider and prime contractor of the Joint Cyber Hunt Kit, we remain committed to pushing the boundaries of what's possible at the edge, enabling the cyber mission, and delivering exceptional results for our customers and the warfighter."

U.S. Cyber Command's Joint Cyber Hunt Kit (JCHK) is a critical capability that provides a standardized, rapidly deployable defensive cyber platform for Joint Cyber Protection Teams. Designed as a mobile, self-contained system that delivers full security operations center functionality, JCHK enables teams to quickly detect, analyze, and counter advanced cyber threats on U.S. and allied networks. The solution replaces fragmented military service specific kits with a Joint Kit that enhances interoperability, accelerates mission readiness, and supports both internal and hunt forward missions. With expanded storage, faster processing, and integrated analytics, JCHK strengthens real-time situational awareness and threat hunting effectiveness, while its co-development with key allies improves shared readiness across the cyber mission space.

SealingTech's advanced edge hardware and software products are part of Parsons larger full‑spectrum cyber and national security solutions and products that empower the Department of War and the Intelligence Community to defend and advance mission objectives across land, sea, air, space, and cyberspace. Parsons' Cyber and Electronic Warfare market represents over 20% of total company revenue. With decades of experience in cyber operations, threat hunting, incident response, and AI‑driven analytics, Parsons integrates offensive and defensive cyber capabilities with information operations and electronic warfare to provide decisive mission advantage. By unifying intelligence, analytics, command and control, and kinetic operations, Parsons industry-leading solutions accelerate decision‑making and deliver transformative, mission‑ready capabilities at the speed of relevance, ensuring resilience and superiority in complex multi‑domain battlespaces.

For more information about SealingTech, please visit www.sealingtech.com.

About SealingTech

Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), is a trusted provider of high-performance hardware and deployable technologies. Veteran-founded in 2012, SealingTech combines engineering expertise, innovation, and real-world operational experience to deliver solutions built for demanding environments. The company supports federal, defense, and commercial customers with technologies designed for speed, reliability, and adaptability.

SOURCE Sealing Technologies

Key Takeaways:

Parsons was awarded a position on the COMET IDIQ contract with a combined ceiling value of more than $14 billion.The contract supports the Missile and Space Intelligence Center's mission to deliver scientific and technical intelligence and foundational military intelligence analysis.Parsons will compete for task orders supporting research, development, sustainment, and analytical services that strengthen national security decision-making. CHANTILLY, Va., Aug. 26, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on the Contract Operations for Missile Evaluation and Testing (COMET) contract supporting the Missile & Space Intelligence Center (MSIC) and its mission partners. Valued at an estimated $14 billion, the multiple-award, indefinite delivery, indefinite quantity (IDIQ) contract will support scientific and technical intelligence, foundational military intelligence, and analytical-enabling services across the Defense Intelligence Enterprise.

"Parsons has a long history of delivering advanced intelligence, mission engineering, and analytical capabilities that help our customers address rapidly evolving threats," said Mike Kushin, president of Defense and Intelligence for Parsons. "This award reflects our customers' confidence in our ability to provide innovative solutions that strengthen decision advantage, accelerate mission outcomes, and support critical national security priorities. Through our One Parsons approach, we bring together expertise across intelligence, cyber, missile defense, space, and systems engineering to deliver capabilities at the speed of relevance."

The COMET contract supports MSIC's mission to provide scientific and technical intelligence and foundational military intelligence analysis of foreign weapon systems. These assessments help warfighters, policymakers, weapons developers, homeland security organizations, and Intelligence Community partners better understand foreign capabilities, performance, operations, limitations, and vulnerabilities.

Through COMET, Parsons will compete for task orders supporting the research, development, integration, and sustainment of hardware, systems, and software capabilities, as well as analytical services that enable all-source intelligence analysis and production across the Defense Intelligence Enterprise. The contract's five mission task areas span multiple domains and disciplines and are designed to support the evolving needs of the Department of Defense, and national intelligence efforts.

Parsons has supported the United States’ critical missile, space, and intelligence missions for more than 35 years, providing deep expertise in scientific and technical intelligence, mission systems analysis, advanced modeling and simulation, systems engineering, and threat assessment capabilities. The company's long-standing presence in Huntsville reflects decades of partnership supporting offensive missile and space intelligence programs, including continuous support to major mission analysis efforts at Redstone Arsenal. Parsons further strengthened its intelligence mission portfolio through its acquisition of Altamira Technologies, adding more than 20 years of experience delivering intelligence solutions, advanced analytics, software and systems development, and technical intelligence support across collection, analysis, processing, dissemination, and archiving activities.

Together, these complementary capabilities provide Parsons with a broad intelligence and mission engineering footprint spanning Huntsville and Dayton, enabling the company to deliver mission-focused solutions that support national security, air and space intelligence, missile defense, and emerging threat analysis requirements. The company’s continued investment in its Huntsville operations, including the opening of its Redstone Gateway facility adjacent to Redstone Arsenal, underscores Parsons’ enduring commitment to supporting complex defense and intelligence missions through innovation, collaboration, and customer proximity.

To learn more about Parsons' national security solutions, visit https://www.parsons.com/national-security/.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:
Bernadette Miller
+1 980.253.9781
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Parsons Corporation ("Parsons" or the "Company") (NYSE: PSN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Parsons and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Parsons reported its financial results for the second quarter of 2026.  Among other items, it reported revenue of approximately $1.58 billion, missing consensus estimates by $30 billion.  Parsons also lowered its full-year revenue guidance from a range of $6.5 billion to $6.8 billion to a range of $6.2 billion to $6.5 billion.  Parsons also sharply lowered its adjusted EBITDA and full-year cash flow guidance.  On a related earnings call, Parsons said that it had divested certain contacts and opted to exit two programs that faced staffing, supply-chain and management challenges. 

On this news, Parson's stock price fell $21.71 per share, or 35%, to close at $40.32 per share on July 29, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

On August 21, 2026, Parsons Corp (PSN) shares rose by 6.5% to a current price of $49.05. This move comes after a challenging year for the company, with a 52-wee

Company will support NIWC in advancing next-generation intelligence, surveillance, and reconnaissance systems to strengthen maritime and information operations

Key Takeaways:

Parsons was selected for a $350 million multiple award IDIQ Seabed to Space ISR (S2ISR) contract supporting NIWC Pacific.The work spans full lifecycle engineering, from RDT&E to deployment and sustainment of ISR systems.The contract enhances Navy capabilities across space, air, land, and maritime domains to counter evolving threats. CHANTILLY, Va., Aug. 20, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by Naval Information Warfare Center (NIWC) Pacific to provide research, development, test, and evaluation (RDT&E) and technical engineering services for the Seabed to Space (S2) Intelligence Surveillance Reconnaissance (ISR) program. The $350 million multiple award indefinite delivery indefinite quantity (IDIQ) contract supports advancing maritime ISR and Information Operations (IO) capabilities for the U.S. Navy.

As an incumbent on the current S2ISR contract vehicle, Parsons brings proven experience and a deep understanding of mission requirements, enabling seamless continuity and immediate operational readiness for critical capabilities.

Under the contract, Parsons will compete for task orders to deliver end-to-end support for ISR systems, from initial development to deployment and sustainment in the field. The company will provide a broad range of technical, operational, and cybersecurity services to ensure these systems remain effective, reliable, and mission-ready.

“Parsons’ selection for the S2ISR program reflects our proven ability to deliver integrated, multi-domain solutions that address increasingly complex mission requirements,” said Mike Kushin, president, Defense & Intelligence for Parsons. “By combining advanced engineering, data analytics, and cybersecurity expertise, we are helping the Navy accelerate the delivery of resilient, mission-critical capabilities from the seabed to space.”

This work will support the Navy’s efforts to design, develop, and field advanced capabilities that enhance communication, surveillance, and security across a wide range of operational environments. Parsons’ solutions will span space, air, land, and maritime domains, including autonomous and non-autonomous platforms, satellite systems, and tactical communications networks.

Through this effort, Parsons will help strengthen the Navy’s ability to stay ahead of evolving threats by delivering adaptable, secure, and interoperable systems that maintain operational effectiveness in dynamic and contested environments. Building on a national security portfolio that includes multi-domain, all-source ISR, autonomous systems integration, cyber and electronic warfare, and space-based mission solutions for the Department of War and the Intelligence Community, Parsons will leverage its proven experience on Navy and joint programs to rapidly field and scale capabilities that are already supporting operational forces worldwide.

To learn more about Parsons’ national security solutions, visit https://www.parsons.com/national-security/.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:
Bernadette Miller
+1 980.253.9781
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]

Key Takeaways:

Parsons was selected for the U.S. Space Force's National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE-STAR) Capability Development Multiple Award IDIQ.NITE-STAR aims to ensure Space Force Guardians are prepared for realistic operational scenarios and engagements against peer adversaries in increasingly contested space environments, and awardees had to meet strict qualification criteria including successful delivery of operational space vehicles and ground systems.The multiple-award IDIQ has a shared ceiling value of $981 million across all awardees and spans two five-year ordering periods, providing a pathway for future task order awards. CHANTILLY, Va., Aug. 19, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today it has been selected by the U.S. Space Force as an awardee on the National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE-STAR) Capability Development multiple award indefinite delivery indefinite quantity (IDIQ) contract. The contract vehicle has a shared ceiling value of $981 million across all awardees over two five-year ordering periods.

The NITE-STAR contract establishes an acquisition vehicle designed to accelerate the development of advanced space test and training capabilities that ensure U.S. Space Force Guardians are prepared for engagements against peer adversaries in increasingly complex operational environments. Parsons will support the rapid development, integration, and deployment of innovative space vehicle and ground system technologies across the space test and training enterprise

"Maintaining superiority in the space domain requires continuous innovation, realistic training environments, and advanced test capabilities," said Mike Kushin, president, Defense and Intelligence for Parsons. "Through this contract vehicle, Parsons will bring together our expertise in space systems, mission engineering, digital technologies, and national security solutions to help the Space Force advance the next generation of test and training capabilities needed to address evolving threats."

The NITE-STAR initiative is focused on advancing sophisticated space and ground systems and technologies that enable Guardians to operate effectively in a contested space environment. By fostering the development and integration of emerging capabilities, the program helps ensure the Space Force remains prepared for high-stakes operational scenarios while maintaining access to the best available technologies from across the innovation ecosystem.

Parsons has decades of experience supporting national security space missions and delivering advanced solutions spanning space vehicles, space operations, satellite ground systems, cyber, digital engineering, systems integration, and mission-critical infrastructure. The company supports government and defense customers with technologies designed to enhance mission readiness, accelerate innovation, and strengthen operational effectiveness across all domains. Parsons’ NITE-STAR team features Blue Canyon Technologies, Orion Space Solutions, EnduroSat, Turion, and Intuitive Machines.

Learn more about Parsons’ space capabilities here: https://www.parsons.com/space/

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements: 
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law. 

Media Contact:                                        
Bernadette Miller
+1 980.253.9781
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]

Key Takeaways:

Parsons was selected by the Metropolitan Knoxville Airport Authority to provide PM/CM services for the Knoxville Airport Terminal Development Program.The five-year program will help Knoxville Airport safely accommodate passenger growth, modernize aging infrastructure, and improve traveler experience.Parsons’ aviation program delivery experience, digital program management tools, and Federal Aviation Administration funding compliance expertise will support transparent, data-driven project delivery.
CHANTILLY, Va., Aug. 18, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been selected by the Metropolitan Knoxville Airport Authority to provide program and construction management (PM/CM) services for the McGhee Tyson Airport (TYS) Terminal Area Development Plan in Knoxville, Tennessee. The five-year contract, which is new work for the company, expands Parsons’ aviation infrastructure portfolio with a new customer.

Under the contract, Parsons will support a complex capital improvement program focused on terminal modernization, passenger growth, and long-term airport development to enhance the traveler’s experience. The company will provide centralized program oversight to help manage cost, schedule, stakeholder coordination, and compliance with Federal Aviation Administration (FAA) funding requirements.

“Parsons’ proven expertise spans the entirety of our business, from delivering complex infrastructure at major airports throughout North America and the Middle East, supporting the Federal Aviation Administration’s next-generation modernization program, and executing fire-fighting foam transitions,” said Martin Boson, president of Engineered Systems for Parsons. “This award expands our position in the aviation market with a new strategic airport customer, and we look forward to supporting the Metropolitan Knoxville Airport Authority as it advances a terminal development program that will enhance operations, improve the passenger experience, and support the region’s continued growth.”

Parsons will support transparent delivery by aligning program controls, stakeholder coordination, reporting, and construction oversight throughout the expected period of performance. In addition, the company will leverage digital program management and infrastructure delivery technologies to improve decision-making, including tools for managing cost and schedule; executive dashboards; cloud-based document and construction management systems; and data analytics for forecasting and performance monitoring.

Parsons, a leading global aviation solutions provider, has planned, designed, constructed, managed, enhanced, and sustained terminal, landside, and airside infrastructure for over 450 airports in 40 countries. This includes work on major airports including Zayed International Airport and Sharjah International Airport in the United Arab Emirates, Los Angeles International Airport in California, Newark Liberty International Airport in New Jersey, and John F. Kennedy International Airport in New York. From modernizing infrastructure to enhancing operational efficiency, the company leverages cutting-edge technology to address the evolving needs of the aviation industry.

To learn more about Parsons’ Aviation solutions, visit www.parsons.com/aviation/.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Media Contact:
Bernadette Miller
+1 980.253.9781
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Parsons Corporation ("Parsons" or the "Company") (NYSE: PSN).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Parsons and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 29, 2026, Parsons reported its financial results for the second quarter of 2026.  Among other items, it reported revenue of approximately $1.58 billion, missing consensus estimates by $30 billion.  Parsons also lowered its full-year revenue guidance from a range of $6.5 billion to $6.8 billion to a range of $6.2 billion to $6.5 billion.  Parsons also sharply lowered its adjusted EBITDA and full-year cash flow guidance.  On a related earnings call, Parsons said that it had divested certain contacts and opted to exit two programs that faced staffing, supply-chain and management challenges. 

On this news, Parson's stock price fell $21.71 per share, or 35%, to close at $40.32 per share on July 29, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

LOS ANGELES, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Parsons Corporation (“Parsons” or “the Company”) (NYSE: PSN) for violations of the securities laws. INVESTIGATION DETAILS: The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

[url="]Schall, Brown and Schwartz[/url] LLP (“SBS”), a national shareholder rights litigation firm, announces that it is investigating claims on behalf of inv

Parsons Corporation shares dropped 35% after the Company reported a Q2 CY2026 net loss and cut full-year 2026 revenue and adjusted EBITDA guidance. Levi & Korsinsky is investigating potential securities law violations on behalf of PSN investors.

, /PRNewswire/ -- Parsons Corporation (NYSE: PSN) shares fell on July 29, 2026, after the Company reported a Q2 CY2026 net loss of approximately $15 million and adjusted EBITDA of roughly $42 million -- down approximately 72% from the prior-year period. If you suffered a loss on your Parsons investment, you are encouraged to click here to submit your information. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

In a Form 8-K filed the same day, Parsons reduced FY-2026 revenue guidance to $6.2--$6.5 billion, down from $6.5--$6.8 billion, and cut adjusted EBITDA guidance to $500--$560 million from $615--$675 million. Quarterly revenue came in at approximately $1.58--$1.60 billion, roughly 1% below the prior year and short of the $1.61 billion consensus estimate.

Management attributed the shortfall to timing-related impacts from divestitures, project delays, lower pass-through costs, and a confidential fixed-price contract that was cancelled. That program had been described on the Company's November 5, 2025 earnings call as being "in a wind-down state.'"

Investors who purchased Parsons securities and lost money are encouraged to have their losses reviewed at no cost, or contact Joseph E. Levi, Esq. at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

Frequently Asked Questions About the PSN Investigation

Q: What is the PSN securities investigation about?A: A securities investigation is pending concerning Parsons Corporation (NYSE: PSN) regarding potentially materially false or misleading statements. Shares declined after the Company disclosed a Q2 2026 net loss, a roughly 72% year-over-year drop in adjusted EBITDA, and a cut to FY-2026 guidance, causing losses for shareholders.

Q: Who is eligible to participate in the PSN investigation?A: Investors who purchased PSN stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: Which statements are being investigated?A: The investigation concerns whether Parsons Corporation made materially false or misleading statements regarding its full-year 2026 revenue and adjusted EBITDA outlook. When the Company cut guidance on July 29, 2026, the stock price declined 35%.

Q: What do PSN investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500.

Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my PSN shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PSN and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.

Q: What if I live outside the United States?A: U.S. securities fraud investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE Levi & Korsinsky, LLP

NEW YORK--(BUSINESS WIRE)--Parsons Corporation (NYSE: PSN) reported a net loss of $15 million, a $70 million year-over-year reduction; shares fell 35%. If you lost money on Parsons stock, click here to submit your loss information. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.When Parsons reported its Q1 results on April 29, 2026, it reaffirmed previous guidance on the back of a net income of $53 million, a reduced performance o.

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Parsons reaffirmed its 2026 guidance on April 29, 2026. Three months later, the Company cut full-year revenue and adjusted EBITDA targets -- and the stock fell.

, /PRNewswire/ -- Three months after telling investors it was "reaffirming our 2026 guidance ranges," Parsons Corporation (NYSE: PSN) cut those ranges on July 29, 2026, and shares declined 35% as the Company reported a quarterly net loss of roughly $15 million. If you lost money on Parsons stock, you are encouraged to submit your PSN loss information now. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (888) SueWallSt.

On the Company's April 29, 2026 first-quarter earnings call, Chair, President and CEO Carey Smith stated: "We are reaffirming our 2026 guidance ranges... We remain confident in our ability to achieve commitments." On July 29, 2026, Parsons disclosed via Form 8-K that full-year 2026 revenue guidance was reduced to $6.2--$6.5 billion from $6.5--$6.8 billion, and full-year adjusted EBITDA guidance was reduced to $500--$560 million from $615--$675 million -- a cut of as much as $175 million at the midpoint of the EBITDA range.

Second-quarter revenue came in at approximately $1.58--$1.60 billion, about 1% below the prior-year period and short of the $1.61 billion consensus figure. Adjusted EBITDA was approximately $42 million, down roughly 72% year over year. Management attributed the shortfall to "planned divestitures," "lower pass-through costs," and "federal contract timing," as well as a confidential fixed-price contract that was "canceled by the administration." On the Company's November 5, 2025 call, Ms. Smith had described that program as follows: "The program is in a wind-down state, so we're basically demobilizing."

Shareholders who purchased Parsons stock and suffered losses may request a free case evaluation here, or contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the PSN Investigation

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Parsons Corporation made materially false or misleading statements regarding its full-year 2026 revenue and adjusted EBITDA outlook. When the Company cut guidance on July 29, 2026, the stock price declined 35%.

Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Parsons Corporation made materially false or misleading statements regarding its full-year 2026 revenue and adjusted EBITDA outlook. When the Company cut guidance on July 29, 2026, the stock price declined 35%.

Q: When did Parsons Corporation allegedly mislead investors?A: The investigation concerns statements made before the July 29, 2026 corrective disclosure that allegedly caused investors to purchase securities at inflated prices.

Q: What do PSN investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.

Q: What is a lead plaintiff and why does it matter?A: If the investigation proceeds to legal action, a lead plaintiff is the investor the court appoints to represent the group of affected investors. Lead plaintiffs are typically investors with the largest documented losses. Contacting the firm during the investigation phase preserves that option.

Q: What if I already sold my PSN shares -- can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PSN and sold at a loss may still participate in the investigation.

Q: What does it cost me to participate?A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis. No upfront fees, no retainer, and no out-of-pocket costs.

Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

[email protected]\

Tel: (888) SueWallSt\

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay Wolke & Rotter LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Parsons Corporation (“Parsons” or the “Company”) (NYSE: PSN) investors concerning the Company's possible violations of the federal securities laws.IF YOU ARE AN INVESTOR WHO LOST MONEY ON PARSONS CORPORATION (PSN), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS.What Happened?On July 2.

ATLANTA, July 30, 2026 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Parsons Corporation (“Parsons” or the “Company”) (NYSE: PSN) complied with federal securities laws. On July 29, 2026, Parsons reported second quarter 2026 results revealing a decrease of $70 million year over year in net income, a decrease of 72% in adjusted EBITDA, and a contraction of 670 basis points in adjusted EBITDA margin. The Company cited “portfolio-shaping actions” and a “joint venture program charge” as having an impact on the quarter’s results.   Following this news, the price of the Company’s stock dropped. 

If you purchased Parsons stock and suffered a loss on that investment, you are encouraged to contact Corey Holzer, Esq. at [email protected] or Joshua Karr, Esq. at [email protected], call our toll-free number at (888) 508-6832, or visit our website at www.holzerlaw.com/case/parsons/ to discuss your legal rights.  

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website,

www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.

 CONTACT:  
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
[email protected]

Posted by Defense World Staff on Jul 30th, 2026

Parsons Corporation (NYSE:PSN – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $39.50 and last traded at $36.94, with a volume of 1046624 shares. The stock had previously closed at $62.03.

The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.82). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. Parsons had a return on equity of 11.52% and a net margin of 3.62%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS.

Key Stories Impacting Parsons Here are the key news stories impacting Parsons this week:

Positive Sentiment: Demand indicators remained solid: contract awards increased 24% year over year, the quarterly book-to-bill ratio was 1.2x, and backlog reached approximately $9.3 billion, including $6.6 billion of funded backlog. Federal Solutions bookings rose 51%, while Critical Infrastructure revenue increased 5%. Parsons Reports Second Quarter 2026 Results Positive Sentiment: Management said portfolio-shaping actions are intended to prioritize more profitable, sustainable growth. The company also reported continued resilience in its Middle East business, with 10% organic revenue growth. Parsons Reports Second Quarter 2026 Results Neutral Sentiment: Some insiders have purchased shares in recent months, including directors Mark Holdsworth and George Ball. However, institutional positioning was mixed, with some major investors adding shares and others reducing their holdings. Parsons Q2 revenue falls to $1.6 billion as net loss hits $15 million Neutral Sentiment: Broader market weakness, including an oil-price surge and pressure on major equity indexes ahead of the Federal Reserve decision, added to the difficult trading environment. Trading in PSN was also briefly halted under a volatility-related LULD pause. Oil Spikes 7%, Nasdaq 100 Sinks Before Fed Negative Sentiment: Parsons reported a quarterly loss of $0.06 per share, far below the roughly $0.74–$0.76 analyst consensus and $0.78 earned a year earlier. Revenue of about $1.6 billion was down approximately 1% year over year and slightly below estimates. Results were pressured by portfolio-shaping actions and charges related to a joint-venture program. Parsons Reports Q2 Loss, Lags Revenue Estimates Negative Sentiment: Management lowered fiscal 2026 revenue guidance to $6.2 billion–$6.5 billion from the approximately $6.7 billion analyst expectation. The reduced outlook implies weaker near-term growth and raises concerns about earnings visibility, explaining the stock’s negative reaction. Parsons plunges after slashing full-year guidance Analyst Ratings Changes A number of research firms have weighed in on PSN. Robert W. Baird reaffirmed a “neutral” rating and issued a $60.00 price objective on shares of Parsons in a report on Monday, April 13th. Zacks Research raised shares of Parsons from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. TD Cowen restated a “buy” rating on shares of Parsons in a research report on Wednesday. Citigroup raised their target price on Parsons from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Finally, KeyCorp lowered Parsons from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 14th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.82.

View Our Latest Analysis on Parsons

Insider Buying and Selling at Parsons In other Parsons news, CEO Carey A. Smith purchased 12,500 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of $49.97 per share, with a total value of $624,625.00. Following the completion of the purchase, the chief executive officer owned 575,376 shares in the company, valued at approximately $28,751,538.72. This represents a 2.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Keith Holdsworth purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the transaction, the director directly owned 39,918 shares of the company’s stock, valued at $2,046,595.86. The trade was a 33.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 32,500 shares of company stock valued at $1,637,325 over the last quarter. 1.31% of the stock is currently owned by insiders.

Institutional Trading of Parsons A number of hedge funds have recently bought and sold shares of PSN. Aster Capital Management DIFC Ltd acquired a new position in Parsons during the fourth quarter worth $25,000. Danske Bank A S purchased a new stake in Parsons in the 4th quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new stake in Parsons in the 4th quarter valued at $32,000. Versant Capital Management Inc increased its stake in shares of Parsons by 183.6% in the 2nd quarter. Versant Capital Management Inc now owns 553 shares of the company’s stock worth $29,000 after acquiring an additional 358 shares during the last quarter. Finally, ST Germain D J Co. Inc. acquired a new stake in shares of Parsons in the 4th quarter worth $41,000. Institutional investors and hedge funds own 98.02% of the company’s stock.

Parsons Stock Performance The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $55.45 and a 200 day moving average price of $58.38. The firm has a market cap of $4.32 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.96 and a beta of 0.66.

About Parsons (Get Free Report)

Parsons Corporation (NYSE: PSN) is a technology-driven engineering, construction, technical and professional services firm. The company delivers end-to-end solutions that span feasibility studies, design and engineering, construction management, system integration and ongoing operations support. Parsons serves both government and commercial clients and focuses on critical infrastructure, defense, security, intelligence and environmental programs.

Core services include program and construction management for transportation systems, water and environmental infrastructure, cybersecurity and advanced systems integration.

Recommended Stories Five stocks we like better than Parsons Why SK hynix Could Be the Best AI Chip Stock to Buy Now Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead? Why Bloom Energy May Be the Most Important AI Infrastructure Stock Receive News & Ratings for Parsons Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsons and related companies with MarketBeat.com's FREE daily email newsletter.

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It's that time of summer again. With August on the doorstep, companies are busy announcing financial results. Like many other businesses, Parsons (PSN -37.11%) posted quarterly earnings before the bell today -- and investors are clearly unhappy with what the company reported -- though it has more to do with what management offered on 2026 guidance.

As of 12:58 p.m. ET, shares of Parsons, a specialist in defense, intelligence, and critical infrastructure solutions, are down 38.1%.

Image source: Getty Images.

Beating bottom-line expectations isn't enough to outshine a less auspicious outlook for 2026 Reporting second-quarter adjusted earnings per share (EPS) of $0.86, Parsons exceeded the $0.76 adjusted EPS that analysts had anticipated. Investors aren't impressed, though.

Today's Change

(

-37.11

%) $

-23.02

Current Price

$

39.01

Instead, they're focusing on management's downwardly revised 2026 outlook. The company now projects 2026 revenue of $6.2 billion to $6.5 billion, down from the original sales forecast of $6.5 billion to $6.8 billion. Similarly, management revised profitability expectations. Whereas it had originally projected 2026 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), including non-controlling interest, of $615 million to $675 million, it now projects $500 million to $560 million.

Parsons also revisited cash flow expectations. Paring back its original 2026 operating cash flow guidance of $470 million to $530 million, management now projects $430 million to $490 million in cash from operations.

According to Matt Ofilos, the company's CFO, the downwardly revised guidance doesn't reflect something materially wrong with the business. It stems from the company's divestitures and the timing of new awards.

Does today's sell-off represent a buying opportunity? While the market is thoroughly disappointed with the company's new outlook for 2026, there's reason to believe that the future remains bright for Parsons as the company reported a 4% year-over-year increase in its total backlog. For those able to see past the market's immediate reaction to the company's earnings report, now might be a good time for patient investors to pick up shares of this tech stock.

Parsons (PSN - Free Report) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of $0.74. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -108.11%. A quarter ago, it was expected that this software and infrastructure services provider would post earnings of $0.7 per share when it actually produced earnings of $0.79, delivering a surprise of +12.86%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Parsons, which belongs to the Zacks Technology Services industry, posted revenues of $1.58 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.92%. This compares to year-ago revenues of $1.58 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Parsons shares have added about 0.4% since the beginning of the year versus the S&P 500's gain of 8.5%.

What's Next for Parsons?While Parsons has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Parsons was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.86 on $1.76 billion in revenues for the coming quarter and $3.28 on $6.64 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the bottom 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Symbotic Inc. (SYM - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +340%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Symbotic Inc.'s revenues are expected to be $714.76 million, up 20.7% from the year-ago quarter.

Key Takeaways

Continued strong demand with 24% year-over-year increase in contract awards and a 1.2x book-to-bill ratio for the quarter, positioning the company for continued successMiddle East resiliency with 10% organic revenue growth and a 1.1x book-to-bill ratioPortfolio-shaping initiatives implemented to prioritize profitable, sustainable growth and enhance long-term shareholder value
Q2 2026 Financial Highlights

Book-to-bill ratio of 1.2x, exceeded 1.0x in both segments and continued streak of TTM book-to-bill ratio of 1.0x or greater in every quarter since 2019 IPO. Federal Solutions bookings increase 51% year-over-yearSignificant Q2 2026 wins underscore Parsons strategic positioning and technology leadershipQ2 revenue of $1.6 billion decreased 1% year-over-year and 5% on an organic basis, in-line with expectationsRevenue growth of 8% excluding confidential contract and portfolio-shaping actions; 3% on an organic basisNet income of ($15 million) decreased $70 million year-over-year. Net income was impacted by a net loss of $85 million on programs relating to the company’s portfolio-shaping actions and charges on a joint venture programAdjusted EBITDA decreased 72% to $42 million. Excluding $118 million of charges, adjusted EBITDA of $161 million increased 8% year-over-yearAdjusted EBITDA margin contracted 670 basis points to 2.7%. Excluding the impact of charges, adjusted EBITDA increased 70 basis points to 10.1%Total and funded backlog increased to $9.3 billion and $6.6 billion, respectivelyRevising fiscal year 2026 guidance ranges
CHANTILLY, Va., July 29, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the second quarter ended June 30, 2026.

CEO Commentary

“Our second quarter results highlight the demand for our solutions and the effectiveness of our strategy in a dynamic macro environment,” said Carey Smith, chair, president, and chief executive officer. “Parsons delivered strong book-to-bill ratios in both segments, achieved profitable growth in its core business, and secured strategic contract wins for long-term success. The Middle East business performed exceptionally well despite regional conflict, posting a 1.1x book-to-bill ratio and 10% organic revenue growth, demonstrating strong alignment with regional spending priorities.

During the quarter, Parsons took decisive portfolio-shaping actions to focus on profitable and sustainable growth. These steps, combined with robust risk management and enhanced bid discipline, further strengthen the company’s market position and margin profile. Looking ahead, we believe Parsons’ strong backlog, robust pipeline, high win rates, and differentiated technology capabilities—especially in advanced AI, cyber, and electronic warfare—position the company to drive profitable growth and deliver long-term shareholder value.”

Second Quarter 2026 Results

Year-over-Year Comparisons (Q2 2026 vs. Q2 2025)

Total revenue for the second quarter of 2026 decreased by $8 million, or 1%, to $1.6 billion and was down 5% on an organic basis. Excluding the company's confidential contract and portfolio-shaping actions, total revenue increased 8% and organic revenue increased 3% driven by our Transportation, Space and Missile Defense, and Urban Development markets. Operating income decreased 99% to $1 million primarily due to losses on programs the company plans to divest and charges on a joint venture program. Net income decreased 128% to ($15 million) as a result of these same factors. GAAP diluted earnings per share (EPS) attributable to Parsons was ($0.14) in the second quarter of 2026, compared to $0.50 in the prior year period.

Adjusted EBITDA including noncontrolling interests for the second quarter of 2026 was $42 million, a 72% decrease over the prior year period, reflecting $118 million in charges related to portfolio actions and a joint venture program charge. Adjusted EBITDA margin contracted 670 basis points to 2.7% compared to 9.4% in the second quarter of 2025. These decreases were driven by the items that impacted operating income noted above. Excluding these charges, adjusted EBITDA increased 8% to $161 million and adjusted EBITDA margin expanded 70 basis points to 10.1%. These increases were driven by improved infrastructure margins and contributions from accretive acquisitions. Adjusted diluted EPS was $(0.06) in the second quarter of 2026, compared to $0.78 in the second quarter of 2025. The year-over-year adjusted diluted EPS decrease was driven by the same portfolio and joint venture charges affecting operating income.

Segment Results

Critical Infrastructure Segment

Critical Infrastructure Year-over-Year Comparisons (Q2 2026 vs. Q2 2025)

  Three Months Ended  Growth  Six Months Ended  Growth (in millions) June 30, 2026  June 30, 2025  Dollars/
Percent  Percent  June 30, 2026  June 30, 2025  Dollars/
Percent  Percent Revenue $815  $779  $36   5% $1,548  $1,491  $57   4%Adjusted EBITDA $56  $82  $(26)  (32)% $135  $155  $(20)  (13)%Adjusted EBITDA margin  6.9%  10.5%  (3.6)%  (34)%  8.7%  10.4%  (1.7)%  (16)%  Second quarter 2026 Critical Infrastructure revenue increased $36 million, or 5%, from the second quarter of 2025. This increase was driven by organic growth of 4% and inorganic revenue contributions from the company's Applied Sciences acquisition. Organic growth was primarily driven by strong performance in the Middle East where revenue grew 10%.

Second quarter 2026 adjusted EBITDA including noncontrolling interests decreased by $26 million, or (32%), compared to the prior year period, and includes $41 million of joint venture-related charges. Adjusted EBITDA margin contracted 360 basis points to 6.9% from 10.5% in the prior year period. Excluding these charges, adjusted EBITDA increased 18% to $97 million and adjusted EBITDA margin expanded 140 bps to 11.9%. These increases were driven by accretive growth in the Middle East and improved mix in North America on higher Parsons’ labor contributions.

Federal Solutions Segment

Federal Solutions Year-over-Year Comparisons (Q2 2026 vs. Q2 2025)

  Three Months Ended  Growth  Six Months Ended  Growth (in millions) June 30, 2026  June 30, 2025  Dollars/
Percent  Percent  June 30, 2026  June 30, 2025  Dollars/
Percent  Percent Revenue $761  $805  $(45)  (6)% $1,519  $1,648  $(129)  (8)%Adjusted EBITDA $(14) $67  $(81)  (121)% $58  $143  $(85)  (59)%Adjusted EBITDA margin  (1.8)%  8.3%  (10.1)%  (122)%  3.8%  8.7%  (4.9)%  (56)%  Second quarter 2026 revenue decreased $45 million, or 6%, compared to the prior year period and 14% on an organic basis. Excluding the company's confidential contract and portfolio-shaping actions, Federal Solutions' revenue increased 11% and 2% on an organic basis. These increases were driven by our Space and Missile Defense and Transportation markets, and contributions from our Altamira and Chesapeake Technologies acquisitions.

Second quarter 2026 Federal Solutions adjusted EBITDA including noncontrolling interests decreased by $81 million, or 121%, compared to the prior year period, and includes $77 million in charges related to programs planned for divestiture. Adjusted EBITDA margin decreased to (1.8%) from 8.3% in the prior year period. Excluding these charges, adjusted EBITDA decreased 5% to $64 million and adjusted EBITDA margin declined 10 bps to 8.2%. These decreases were primarily driven by lower volume on the company's fixed-price confidential contract and higher volume of materials and subcontract efforts diluting margins.

Second Quarter 2026 Key Performance Indicators

Book-to-bill ratio: 1.2x on net bookings of $1.9 billion.Book-to-bill ratio (trailing twelve-months): 1.1x on net bookings of $7.0 billion.Total backlog: $9.3 billion, up $314 million from Q2 2025. Funded backlog of $6.6 billion represents 71% of total backlog.Cash flow from operating activities: Q2 2026 of $58 million compared to $160 million in second quarter of 2025. Cash flow decreased from the prior year period primarily due to the proactive investment of memory and storage inventory for high-margin, high-demand products aligned with national security priorities, and the timing of customer payments. Significant Contract Wins

Parsons continues to win new business across both segments. During the second quarter of 2026, the company won five single-award contracts worth more than $100 million each.

Awarded a two-year, $514 million contract extension under the Missile Defense Agency’s (MDA) Technical, Engineering, Advisory, and Management Support (TEAMS) – Next Systems Engineering contract. This award exercises the second option period and extends Parsons’ more than four-decade partnership with the MDA. Under the contract, Parsons will continue to deliver advanced engineering for the integrated Missile Defense System (MDS). The company booked $195 million on this contract during the second quarter.Awarded $400 million in Other Transaction Agreements, each with a three-year period of performance. The company booked $125 million under these contracts during the second quarter. These new OTAs reflect demand for our mission-critical defense and intelligence solutions, and confidence in our ability to rapidly deliver.Awarded a five-year, $245 million indefinite delivery, indefinite quantity contract from the U.S. Naval Research Laboratory. Under this contract, Parsons will design, test, maintain, and enhance mission-critical software modules, and provide configuration control and cybersecurity for space and ground systems supporting national security missions. The company booked $71 million under this contract during the second quarter.Awarded a new seven-year, single-award indefinite delivery, indefinite quantity contract with a ceiling value of $184 million to support the Department of Navy’s Intelligence Carry-On Program. This contract represents new work for the company and supports the rapid delivery of innovative capabilities that enhance speed and agility for the warfighter. The company booked $26 million on this contract during the second quarter.Received an additional $161 million to continue serving as the Main Construction Manager for remediation projects on the Giant Mine program in Canada, known as one of the largest and most complex mine reclamation projects in the world. The company booked the full amount during the second quarter.Awarded over $160 million across two classified contracts - one focused on national security and the other on cybersecurity. The company booked $78 million on these contracts during the second quarter.Awarded $84 million by the New York City Department of Environmental Protection for the Newtown Creek Combined Sewer Overflow Storage Tunnel project in New York City. Parsons serves as a member of Newtown Creek CSO Partners, a joint venture with AECOM and EPC Consultants Inc., supporting the delivery of a major underground infrastructure program designed to eliminate untreated sewer discharges into local waterways. Under the 16-year program, which represents one of New York City’s most significant wastewater infrastructure investments, Parsons will provide construction management (CM) services for the large-diameter storage tunnel, tunnel dewatering pump station, and other structures, drawing on its experience delivering complex tunnel and sewer programs in dense urban environments. The company booked the full amount during the second quarter.Awarded an additional $73 million contract in support of the Air Force Research Laboratory’s Global Application Research, Development, Engineering and Maintenance (GARDEM) mission. The contract is the fourth in support of GARDEM in 2026, bringing Parsons’ total awards to $218 million. Under this contract, Parsons will perform research and development and operations and maintenance (O&M) across GARDEM 2 enterprise platform and mission application software baselines, including Platform and Mission Application support for field sites and existing installations. The company booked $5 million on this contract during the second quarter.During the quarter, U.S. Cyber Command expressed their intent to increase the Joint Cyber Hunt Kit, or JCHK, contract ceiling to $750 million. This is a powerful testament to the company's ability to deliver advanced, deployable hardware and software solutions at scale.
Additional Corporate Highlights

Parsons continues to be recognized as a leading global infrastructure company, receiving multiple awards for project excellence. During the quarter, the company was recognized as a global industry leader for Program Management by Engineering News-Record and received multiple awards from the American Council of Engineering Companies for its innovative solutions. Parsons was also recognized for being a top employer for military veterans.

Recognized by Engineering News-Record as one of the top three global companies in each of their 2026 rankings: Program Management, Professional Services, and Program/Construction Management for Fee. These rankings reflect the company’s worldwide reputation and ability to successfully win and execute infrastructure programs.Received two prestigious 2026 National Recognition Engineering Excellence Awards by the American Council of Engineering Companies (ACEC) for the Gulfport Redevelopment Project at the Gulfport Job Corps Center and the Twin Ports Interchange Final Design. The Twin Ports Interchange project also received a Grand Award and placed third in the Grand Conceptor category in the 2026 ACEC of Minnesota Engineering Excellence Awards.Honored with a 2026 Award of Excellence in Steel Construction in the infrastructure category by the Canadian Institute of Steel Construction for the Kicking Horse Canyon Phase 4 project in British Columbia.Recognized as a 2026 VETS Indexes 5 Star Employer for its strong commitment to recruiting, hiring, retaining, developing, and supporting veterans and the military-connected community. This marks the fourth consecutive year of VETS Index Employer Awards recognition. Fiscal Year 2026 Guidance

The company is updating its fiscal year 2026 revenue, adjusted EBITDA, and operating cash flow guidance ranges. The table below summarizes the company’s fiscal year 2026 guidance.

 Current Fiscal Year
2026 GuidancePrior Fiscal Year
2026 GuidanceRevenue$6.2 billion - $6.5 billion$6.5 billion - $6.8 billionAdjusted EBITDA including non-controlling interest$500 million - $560 million$615 million - $675 millionCash Flow from Operating Activities$430 million - $490 million$470 million - $530 million
We have not provided a reconciliation of our Adjusted EBITDA guidance because the information needed to reconcile this measure is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred which may be significant. Additionally, estimating such GAAP measure and providing a meaningful reconciliation for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort.

Conference Call Information

Parsons will host a conference call today, July 29, 2026, at 8:00 a.m. ET to discuss the financial results for its second quarter 2026.

Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here.

A replay will be available on the company's website approximately two hours after the conference call and continuing for one year.

About Parsons Corporation

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements
This Earnings Release contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. Words or phrases such as “may”, “will”, “should”, “expects”, “plans”, “anticipates”, “could”, “intends”, “target”, “projects”, “contemplates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these words or other similar terms or expressions are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, without limitation, the factors listed under “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2025, and subsequent filings with the U.S. Securities and Exchange Commission, as well as the following: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; volatility of government budgets and funding; our dependence on the award, maintenance and renewal of long-term government contracts, which are subject to the government’s budgetary approval process; our ability to successfully and timely perform our contractual obligations; the size of our addressable markets and the amount of government spennding on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; underperformance, misconduct or other improper activities of our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts, including the impact of contract divestments and program exits, and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and cyber or other security breaches; and inherent uncertainties and potential adverse developments in legal proceedings including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. 

Forward-looking statements are primarily based on our current estimates, assumptions, expectations and projections. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control and difficult to predict. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. These statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. We undertake no obligation to update any forward-looking statements to subsequent events, new information or otherwise, except as required in connection with our ongoing requirements under federal securities laws.

Media:Investor Relations:Bryce McDevittDave SpilleParsons CorporationParsons Corporation(703) 851-4425(571) [email protected]@Parsons.us  PARSONS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Revenue $1,575,867  $1,584,323  $3,067,043  $3,138,683 Direct cost of contracts  1,280,629   1,235,970   2,414,385   2,436,347 Equity in losses of unconsolidated joint ventures  (33,748)  (642)  (27,592)  (1,329)Selling, general and administrative expenses  260,195   252,050   528,097   496,113 Operating income  1,295   95,661   96,969   204,894 Interest income  565   1,068   2,376   3,210 Interest expense  (16,386)  (12,569)  (32,384)  (24,815)Other income, net  18,283   5,019   18,094   6,654 Total other income (expense)  2,462   (6,482)  (11,914)  (14,951)Income before income tax expense  3,757   89,179   85,055   189,943 Income tax benefit (expense)  (4,222)  (18,690)  (20,309)  (37,667)Net (loss) income including noncontrolling interests  (465)  70,489   64,746   152,276 Net income attributable to noncontrolling interests  (14,754)  (15,259)  (27,039)  (30,843)Net (loss) income attributable to Parsons Corporation $(15,219) $55,230  $37,707  $121,433 Earnings per share:            Basic $(0.14) $0.52  $0.35  $1.14 Diluted $(0.14) $0.50  $0.35  $1.10   Weighted average number shares used to compute basic and diluted EPS
(In thousands) (Unaudited)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Basic weighted average number of shares outstanding  106,982   106,997   107,082   106,914 Dilutive effect of stock-based awards  700   1,205   918   1,414 Dilutive effect of warrants  -   7   14   223 Dilutive effect of convertible senior notes  -   1,893   -   2,006 Diluted weighted average number of shares outstanding  107,682   110,102   108,014   110,557   Net income available to shareholders used to compute diluted EPS as a result of adopting the if-converted method in connection with the Convertible Senior Notes
(In thousands) (Unaudited)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Net (loss) income attributable to Parsons Corporation $(15,219) $55,230  $37,707  $121,433 Convertible senior notes if-converted method interest adjustment  -   54   -   108 Diluted net (loss) income attributable to Parsons Corporation $(15,219) $55,284  $37,707  $121,541   PARSONS CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except share information)

   June 30, 2026  December 31, 2025 Assets      Current assets:       Cash and cash equivalents (including $79,806 and $153,144 Cash of consolidated joint ventures) $266,044  $466,388  Accounts receivable, net (including $356,033 and $337,270 Accounts receivable of consolidated joint ventures)  1,146,226   1,124,417  Contract assets (including $48,953 and $41,318 Contract assets of consolidated joint ventures)  1,062,280   915,806  Prepaid expenses and other current assets (including $16,942 and $11,145 Prepaid expenses and other current assets of consolidated joint ventures)  228,495   176,932  Assets held for sale  17,233    -  Total current assets  2,720,278   2,683,543          Property and Equipment, net (including $2,334 and $2,488 Property and equipment of consolidated joint ventures)  159,507   151,061  Right of use assets, operating leases (including $3,744 and $4,482 Right of use assets, operating leases of consolidated joint ventures)  147,854   126,770  Goodwill  2,421,427   2,186,650  Investments in and advances to unconsolidated joint ventures  153,328   148,640  Intangible assets, net  384,179   325,880  Deferred tax assets  61,077   88,191  Other noncurrent assets  59,296   58,799  Total assets $6,106,946  $5,769,534         Liabilities and Shareholders' Equity      Current liabilities:       Accounts payable (including $49,525 and $58,914 Accounts payable of consolidated joint ventures) $246,895  $250,514  Accrued expenses and other current liabilities (including $184,251 and $195,747 Accrued expenses and other current liabilities of consolidated joint ventures)  940,534   884,445  Contract liabilities (including $44,283 and $44,802 Contract liabilities of consolidated joint ventures)  346,576   340,113  Short-term lease liabilities, operating leases (including $2,041 and $2,395 Short-term lease liabilities, operating leases of consolidated joint ventures)  40,308   45,353  Income taxes payable  2,102   11,239  Liabilities held for sale  60,725   -  Total current liabilities  1,637,140   1,531,664          Long-term employee incentives  26,923   30,834  Long-term debt  1,474,048   1,237,816  Long-term lease liabilities, operating leases (including $1,699 and $2,083 Long-term lease liabilities, operating leases of consolidated joint ventures)  120,296   94,044  Deferred tax liabilities  10,076   12,159  Other long-term liabilities  90,694   95,345  Total liabilities $3,359,177  $3,001,862 Contingencies (Note 12)      Shareholders' equity:       Common stock, $1 par value; authorized 1,000,000,000 shares; 145,506,001 and 145,676,335 shares issued; 57,556,643 and 56,103,965 public shares outstanding; 49,241,105 and 50,864,117 ESOP shares outstanding $145,506  $145,676  Treasury stock, 38,708,253 shares at cost  (793,002)  (792,638) Additional paid-in capital  2,611,828   2,648,730  Retained earnings  694,530   661,173  Accumulated other comprehensive loss  (27,443)  (20,921) Total Parsons Corporation shareholders' equity  2,631,419   2,642,020  Noncontrolling interests  116,350   125,652  Total shareholders' equity  2,747,769   2,767,672  Total liabilities and shareholders' equity $6,106,946  $5,769,534    PARSONS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

   For the Six Months Ended    June 30, 2026  June 30, 2025 Cash flows from operating activities:       Net income including noncontrolling interests $64,746  $152,276  Adjustments to reconcile net income to net cash used in operating activities       Depreciation and amortization  72,563   55,995  Amortization of debt issue costs  2,446   2,611  Loss (gain) on disposal of property and equipment  1,000   63  Loss (gain) on sale of business  (19,300)  -  Deferred taxes  1,921   2,225  Foreign currency transaction gains and losses  1,800   (5,171) Equity in losses (earnings) of unconsolidated joint ventures  27,592   1,329  Return on investments in unconsolidated joint ventures  13,062   15,907  Stock-based compensation  22,401   22,926  Contributions of treasury stock  39,130   35,382  Changes in assets and liabilities, net of acquisitions and consolidated
joint ventures:       Accounts receivable  (5,478)  (31,905) Contract assets  (157,998)  (84,802) Prepaid expenses and other assets  (55,126)  (7,544) Accounts payable  (7,266)  62,462  Accrued expenses and other current liabilities  15,022   (94,320) Contract liabilities  68,430   14,472  Income taxes  (10,217)  5,828  Other long-term liabilities  (20,844)  280  Net cash provided by operating activities  53,884   148,014 Cash flows from investing activities:       Capital expenditures  (31,053)  (22,909) Proceeds from sale of property and equipment  -   35  Proceeds from sale of business  23,966   -  Payments for acquisitions, net of cash acquired  (330,123)  (117,858) Investments in unconsolidated joint ventures  (56,859)  (35,496) Return of investments in unconsolidated joint ventures  7,578   11,920  Net cash used in investing activities  (386,491)  (164,308)Cash flows from financing activities:       Proceeds from borrowings under credit agreement  454,900   243,700  Repayments of borrowings under credit agreement  (220,900)  (243,700) Repurchases of convertible notes due 2025  -   (28,486) Proceeds from term loan  -   450,000  Repayment of delayed draw term loan  -   (350,000) Payments for debt issuance costs  -   (2,571) Contributions by noncontrolling interests  234   327  Distributions to noncontrolling interests  (36,575)  (45,055) Repurchases of common stock  (49,989)  (39,994) Taxes paid on vested stock  (19,932)  (18,210) Redemption of warrants  (4)  -  Proceeds from issuance of common stock  5,700   4,796  Net cash (used in) provided by financing activities  133,434   (29,193) Effect of exchange rate changes  (1,171)  3,266  Net increase (decrease) in cash, cash equivalents, and restricted cash  (200,344)  (42,221) Cash, cash equivalents and restricted cash:       Beginning of year  466,388   453,548  End of period $266,044  $411,327   Contract Awards
(in thousands)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Federal Solutions $985,300  $650,770  $2,016,634  $1,395,479 Critical Infrastructure $883,666   855,275   1,910,741   1,877,072 Total Awards $1,868,966  $1,506,045  $3,927,375  $3,272,551   Backlog
(in thousands)

  June 30, 2026  June 30, 2025 Federal Solutions:      Funded $1,868,875  $1,816,590 Unfunded  2,636,203   2,656,547 Total Federal Solutions  4,505,078   4,473,137 Critical Infrastructure:      Funded  4,712,089   4,421,015 Unfunded  39,726   48,886 Total Critical Infrastructure  4,751,815   4,469,901 Total Backlog $9,256,893  $8,943,038   Book-To-Bill Ratio1:

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Federal Solutions  1.3   0.8   1.3   0.8 Critical Infrastructure  1.1   1.1   1.2   1.3 Overall  1.2   1.0   1.3   1.0   1 Book-to-Bill ratio is calculated as total contract awards divided by total revenue for the period.

Non-GAAP Financial Information
The tables under "Parsons Corporation Inc. Reconciliation of Non-GAAP Measures" present Adjusted Net Income attributable to Parsons Corporation, Adjusted Earnings per Share, Earnings before Interest, Taxes, Depreciation, and Amortization (“EBITDA”), Adjusted EBITDA, EBITDA Margin, and Adjusted EBITDA Margin, reconciled to their most directly comparable GAAP measure. These financial measures are calculated and presented on the basis of methodologies other than in accordance with U.S. generally accepted accounting principles ("Non-GAAP Measures"). Parsons has provided these Non-GAAP Measures to adjust for, among other things, the impact of amortization expenses related to our acquisitions, costs associated with a loss or gain on the disposal or sale of property, plant and equipment, restructuring and related expenses, costs associated with mergers and acquisitions, software implementation costs, legal and settlement costs, and other costs considered non-operational in nature. These items have been Adjusted because they are not considered core to the company’s business or otherwise not considered operational or because these charges are non-cash or non-recurring. The company presents these Non-GAAP Measures because management believes that they are meaningful to understanding Parsons’s performance during the periods presented and the company’s ongoing business. Non-GAAP Measures are not prepared in accordance with GAAP and therefore are not necessarily comparable to similarly titled metrics or the financial results of other companies. These Non-GAAP Measures should be considered a supplement to, not a substitute for, or superior to, the corresponding financial measures calculated in accordance with GAAP.

Normalized Financial Measures
In addition to the Non-GAAP Measures described above, for the second quarter of 2026, the company presents normalized Revenue, Net Income, Earnings Per Share (“EPS”), and Operating Cash Flow, each reconciled to its most directly comparable GAAP measure. The company also presents for the second quarter of 2026, normalized Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted EPS – Diluted, each of which is a non-GAAP Measure and is reconciled to the measure’s customary Non-GAAP presentation. These normalization adjustments exclude the effects of the portfolio-shaping actions and joint venture charges, as applicable and further described in this Earnings Release and the following reconciliation tables, which management does not consider indicative of the company’s core operating performance for the period presented. These adjustments may include non-recurring or unusual charges and gains, asset impairments, and other items that are not expected to occur regularly as part of the company’s normal operations. Management believes that excluding the effect of such items provides investors with supplemental information that facilitates period-to-period comparisons of operating performance and enhances an understanding of the company’s underlying business trends. These normalized financial measures should not be considered in isolation or as a substitute for, superior to, or more meaningful than their corresponding GAAP or customary non-GAAP financial measures, and may not be comparable to similarly titled measures used by other companies.

PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Net Income to Adjusted EBITDA
(in thousands)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Net income attributable to Parsons Corporation $(15,219) $55,230  $37,707  $121,433 Interest expense, net  15,821   11,501   30,008   21,605 Income tax expense  4,222   18,690   20,309   37,667 Depreciation and amortization (a)  36,637   28,592   72,563   55,995 Net income attributable to noncontrolling interests  14,754   15,259   27,039   30,843 Equity-based compensation  10,077   11,519   19,531   18,622 Transaction-related costs (b)  (7,126)  5,135   1,313   8,836 Restructuring (c)  -   2,361   -   2,361 Other (d)  (16,946)  844   (15,321)  545 Adjusted EBITDA $42,220  $149,131  $193,149  $297,907   (a) Depreciation and amortization for the three and six months ended June 30, 2026, is $27.5 million and $54.4 million, respectively in the Federal Solutions Segment and $9.1 million and $18.1 million, respectively in the Critical Infrastructure Segment. Depreciation and amortization for the three and six months ended June 30, 2025, is $20.1 million and $39.6 million, respectively in the Federal Solutions Segment and $8.5 million and $16.4 million, respectively in the Critical Infrastructure Segment.

(b) Reflects costs incurred in connection with acquisitions and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.

(c) Reflects costs associated with and related to our corporate restructuring initiatives.

(d) Includes a combination of gain on sale of business, gain/loss related to sale of fixed assets, software implementation costs, and other individually insignificant items that are non-recurring in nature.

PARSONS CORPORATION
Non-GAAP Financial Information
Computation of Adjusted EBITDA Attributable to Noncontrolling Interests
(in thousands)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Federal Solutions Adjusted EBITDA attributable to Parsons Corporation $(13,786) $67,072  $57,767  $142,604 Federal Solutions Adjusted EBITDA attributable to noncontrolling interests  23   11   40   62 Federal Solutions Adjusted EBITDA including noncontrolling interests $(13,763) $67,083  $57,807  $142,666              Critical Infrastructure Adjusted EBITDA attributable to Parsons Corporation  41,007   66,193   107,908   124,380 Critical Infrastructure Adjusted EBITDA attributable to noncontrolling interests  14,976   15,855   27,434   30,861 Critical Infrastructure Adjusted EBITDA including noncontrolling interests $55,983  $82,048  $135,342  $155,241              Total Adjusted EBITDA including noncontrolling interests $42,220  $149,131  $193,149  $297,907   PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Net Income Attributable to Parsons Corporation to Adjusted Net Income Attributable to Parsons Corporation
(in thousands, except per share information)

  Three Months Ended  Six Months Ended   June 30, 2026  June 30, 2025  June 30, 2026  June 30, 2025 Net income attributable to Parsons Corporation $(15,219) $55,230  $37,707  $121,433 Acquisition related intangible asset amortization  23,680   17,054   47,477   33,435 Equity-based compensation  10,077   11,519   19,531   18,622 Transaction-related costs (a)  (7,126)  5,135   1,313   8,836 Restructuring (b)  -   2,361   -   2,361 Other (c)  (16,946)  844   (15,321)  545 Tax effect on adjustments  (1,296)  (7,865)  (11,905)  (16,406)Adjusted net income attributable to Parsons Corporation $(6,830) $84,278  $78,802  $168,826 Adjusted earnings per share:            Weighted-average number of basic shares outstanding  106,982   106,997   107,082   106,914 Weighted-average number of diluted shares outstanding (d)  107,682   108,202   108,000   108,328 Adjusted net income attributable to Parsons Corporation per basic share $(0.06) $0.79  $0.74  $1.58 Adjusted net income attributable to Parsons Corporation per diluted share $(0.06) $0.78  $0.73  $1.56   (a) Reflects costs incurred in connection with acquisitions and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.

(b) Reflects costs associated with and related to our corporate restructuring initiatives.

(c) Includes a combination of gain on sale of business, gain/loss related to sale of fixed assets, software implementation costs, and other individually insignificant items that are non-recurring in nature.

(d) Excludes dilutive effect of convertible senior notes due 2025 due to bond hedge.

PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Reported GAAP Results to Adjusted Results on a Normalized Basis(a)
(in thousands, except per share information)

  Q2 2026
As Reported (GAAP)  Federal Charge
and Divestitures  Infrastructure
JV Charge  Q2 2026
Adjusted Results (non-GAAP) Federal Solutions revenue $760,868  $16,810  $-  $777,678 Critical Infrastructure revenue  814,999   -   -   814,999 Total Revenue $1,575,867  $16,810  $-  $1,592,677 Net (loss) income attributable to Parsons Corporation $(15,219) $49,861  $35,086  $69,728 Earnings per share:            Basic $(0.14) $0.46  $0.33  $0.65 Operating Cash Flow $57,584  $-  $-  $57,584   (a) Reconciliation incorporates a $19.3 million pre-tax gain from the divestiture of two SETA contracts, a $77.5 million pre-tax loss on two contracts which are held for sale, and a $40.9 million pre-tax charge to equity in earnings on a project affected by historic rainfall and program delays in Q2 2026 being performed as part of a joint venture.

PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Adjusted EBITDA, Net Income and EPS on a Normalized Basis(a)
(in thousands, except per share information)

  Q2 2026
As Reported  Federal Charge  Infrastructure
JV Charge  Q2 2026
Adjusted Results (non-GAAP) Federal Solutions Adjusted EBITDA
including noncontrolling interests $(13,763) $77,535  $-  $63,772 Critical Infrastructure Adjusted EBITDA
including noncontrolling interests  55,983   -   40,893   96,876 Total Adjusted EBITDA
including noncontrolling interests $42,220  $77,535  $40,893  $160,648 Margin  2.7%        10.1%Adjusted net income attributable to Parsons Corporation $(6,830) $64,509  $35,086  $92,765 Adjusted Earnings per share:            Diluted $(0.06) $0.60  $0.33  $0.86   (a) Reconciliation incorporates a $77.5 million pre-tax loss on two contracts which are held for sale, and a $40.9 million pre-tax charge to equity in earnings on a project affected by historic rainfall and program delays in Q2 2026 being performed as part of a joint venture.

Key Takeaways

Parsons’ expanding portfolio of mission-focused products – underpinned by artificial intelligence – complements and enhances the company's broader global solutions offerings across national security and critical infrastructure markets.Products including Cyber Fly-Away Kits, AresNXT™, Javelin®, DroneArmor™, TReX®, Peanut™, iNET®, BlueFly®, GOCaaS™, and OrbitXchange™ demonstrate the company's ability to innovate, commercialize, and scale technologies that support customer missions.Parsons continues to invest in product development and commercialization to deliver repeatable, high-value offerings that drive mission outcomes, long-term growth, and margin expansion.
CHANTILLY, Va., July 23, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a leading global solutions provider in the defense, intelligence, and infrastructure markets, today highlighted its growing portfolio of mission-focused products – underpinned by artificial intelligence (AI) – that complement and enhance the company's global solutions and help customers address evolving challenges.

Built on decades of operational experience and customer collaboration, Parsons' product portfolio strengthens the company's ability to deliver integrated solutions across complex mission environments. These technologies provide customers with agile, scalable capabilities that enhance decision-making, improve resilience, and support mission success while creating flexible offerings.

“Our innovation is rooted in continuous advancement and a relentless focus on customer outcomes,” said Ricardo Lorenzo, chief technology officer at Parsons. “Parsons is uniquely positioned to combine deep mission expertise, AI-powered solutions, and scalable technologies to solve complex customer challenges. Through our One Parsons approach, we are extending the strength of our existing solutions portfolio by connecting experts across transportation, cyber and electronic warfare, space and missile defense, water and environment, urban development, and critical infrastructure protection.”

The company’s One Parsons approach leverages global expertise to accelerate innovation, strengthen product development, and deliver greater value for customers. Technologies developed in support of one customer mission can be adapted, integrated, and scaled across multiple markets.

“As the global threat landscape and demands on critical infrastructure continue to evolve, Parsons is expanding a product portfolio built around two urgent missions: securing the infrastructure that communities and economies depend on, and delivering AI-enabled, mission-ready technologies that help protect lives,” said Aaron Wajsgras, vice president of product strategy and commercialization at Parsons. “Every offering is rooted in customer outcomes, turning proven innovation into repeatable solutions that help customers operate with faster decision-making, greater resilience, and a mission-critical advantage.”

Parsons' portfolio spans cyber operations, biometrics and identity management, electronic warfare, counter-unmanned aircraft systems (CUAS), space operations, critical infrastructure protection, border security, and transportation. These offerings are sold directly to customers or integrated into larger company solutions.

Domain Superiority: Cyber Fly-Away Kits, TReX®, and Peanut™
Parsons' national security portfolio includes AI-enabled technologies designed to help customers maintain an operational advantage across cyber, electronic warfare, and contested environments.

Cyber Fly-Away Kits provide rapidly deployable defensive cyber capabilities that support cyber hunt and mission assurance activities.TReX® delivers high-fidelity threat emulation and electronic warfare testing capabilities that help customers prepare for evolving threat environments.Peanut™ provides resilient positioning, navigation, and timing (PNT) capabilities that support operations when traditional GPS signals are degraded, denied, or unavailable.
Securing Critical Infrastructure: DroneArmor™, AresNXT™, Javelin®, BlueFly® and TAKaaS
Parsons helps customers protect global critical infrastructure, public venues, transportation systems, and high-consequence assets through a growing portfolio of security and identity management technologies.

AresNXT™ provides next-generation biometric identity management capabilities that improve security, interoperability, and operational efficiency across mobile and enterprise environments.Javelin® delivers secure identity enrollment and verification capabilities that support law enforcement, public safety, national security, and event security missions.Complementing these offerings, DroneArmor™ provides counter-unmanned aircraft system capabilities that help customers detect, identify, and respond to emerging aerial threats, supporting force protection and critical infrastructure security requirements around the world.BlueFly® search-and-rescue system helps first responders and search teams rapidly locate individuals in a difficult environment.TAKaaS offers comprehensive TAK (Tactical Assault Kit/Team Awareness Kit) development, hosting, integration, fielding, and training services unlocking the full potential of the TAK ecosystem and ensuring mission success and effective operations for militaries, security forces, first responders, and event personnel.
Space Solutions: GOCaaS™ and OrbitXchange™
Parsons expansive portfolio of space-focused technologies support resilient satellite operations.

OrbitXchange™ orchestrates automated access to global antenna networks enabling satellite communications, telemetry, tracking, and command services.GOCaaS™ delivers 24/7 operational satellite operations as a service for any satellite delivering automated telemetry, tracking, commanding, mission management, and data delivery within a secure environment, helping government and commercial customers improve efficiency, resiliency, and mission assurance across increasingly complex space environments. Infrastructure Solutions: iNET®
iNET® is a globally deployed platform that helps transportation agencies around the world connect vehicles, infrastructure, and operational systems to improve mobility, safety, and efficiency. Built on Parsons' deep transportation expertise, iNET® demonstrates how the company's One Parsons approach combines digital innovation, infrastructure delivery, and operational experience to help customers build and secure critical infrastructure worldwide.

Parsons’ smart-mobility and traffic-management expertise extend beyond North America into the Middle East, where the company has delivered major ITS, traffic management centers, and smart-city mobility programs across the UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait. These programs include integrated corridor management, centralized traffic operations centers, real-time monitoring and analytics, connected ITS devices, and multimodal coordination.

Parsons’ products trace their origins to customer missions around the world and are deployed across government, commercial, and critical infrastructure environments. From transportation agencies operating statewide mobility networks to security professionals conducting identity operations, cyber teams defending critical assets, and space operators supporting national security missions, the company’s solutions help customers solve complex challenges while preparing for future operational demands.

To learn more about Parsons' products and technology solutions, visit Parsons.com/products.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:                                        
Bryce McDevitt
+1 703.851.4425
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]

Key Takeaways:

Parsons was awarded a $33 million contract to deploy its iNET® smart mobility system statewide to support design, development, integration, testing, operations, and maintenance for NYSDOT’s Transportation Systems Management and Operations (TSMO) software system.The award continues Parsons’ success in winning statewide advanced traffic management system deployments.Leveraging Parsons’ infrastructure market knowledge and technology solutions, the company delivers advanced digital solutions like iNET® to global customers. CHANTILLY, Va., July 20, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the New York State Department of Transportation (NYSDOT) to deliver the NYSDOT Statewide TSMO Software System. The $33 million contract includes an enterprise-level deployment of iNET®, Parsons’ intelligent transportation software (ITS) platform, as well as system design, software development, integration, testing, and operations and maintenance services.

This award represents new work for Parsons and establishes another major statewide anchor, joining Georgia and New Jersey, and builds on district-level advanced traffic management system deployments the company previously delivered in New York.

“The modernization of New York’s transportation systems management operations program reflects a forward-looking investment that will enhance agencies’ abilities to operate safer, smarter, and more resilient transportation networks for their citizens,” said Mark Fialkowski, president, Infrastructure North America for Parsons. “Parsons brings deep advanced traffic management system experience, proven software, and a regional team that understands New York’s transportation priorities. We are proud to support NYSDOT as it advances a unified platform for real-time operations across the state.”

Under the contract, Parsons will provide a fully integrated freeway and arterial advanced traffic management system across NYSDOT’s 11 districts. The platform will help NYSDOT enhance overall transportation system efficiency by centralizing operations into a single statewide view, strengthening coordination across districts, and supporting the agency’s long-term TSMO strategy. In addition, the scope includes replacing central processing unit cards for more than 6,000 traffic signal controllers statewide. This program will help the agency improve how it manages transportation systems and delivers reliable mobility for the New York public.

Parsons has more than half a century of experience designing, delivering, protecting, and connecting the infrastructure that links communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. The company’s ATMS and ITS solutions have been deployed more than 100 times around the world, connecting thousands of devices and traffic signals to monitor, manage, and improve road safety and efficiency. Leveraging digital solutions like ATMS, ITS, as well as digital twins and artificial intelligence, Parsons delivers future-ready solutions that help extend the longevity of infrastructure while elevating the quality of life for the people who rely on that infrastructure every day.

To learn more about iNET®, visit www.parsons.com/products/inet/.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.

Media Contact:
Bernadette Miller
+1 980.253.9781
[email protected]

Investor Relations Contact:
Dave Spille
+1 703.775.6191
[email protected]