PSN

EX-99.1

2 psn-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Parsons* third quarter 2022 earnings press release

Parsons Reports First Quarter 2026 Results

Q1 2026 Financial Highlights

▪ Q1 revenue of $1.5 billion decreased 4% year-over-year and 8% on an organic basis

▪ Revenue growth of 8% excluding confidential contract; 3% on an organic basis

▪ Net income of $53 million decreased $13 million year-over-year

▪ Adjusted EBITDA increased 1% to $151 million, a Q1 record

▪ Adjusted EBITDA margin expanded 50 basis points to a record 10.1%

▪ Cash flow used in operating activities of $4 million, a Q1 record

▪ Book-to-bill ratio of 1.4x in both segments extends company streak of TTM book-to-bill ratio of 1.0x or greater in every quarter since IPO

▪ Total and funded backlog increased to a record $9.3 billion and $6.6 billion, respectively

▪ Reiterating fiscal year 2026 guidance ranges

Chantilly, VA – April 29, 2026 Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2026.

CEO Commentary

“Our first quarter results highlighted the resilience of our business and our team's high level of execution, as we delivered our highest adjusted EBITDA margin ever, reached record levels for both total and funded backlog, achieved a robust book-to-bill ratio of 1.4x in both segments, and generated record first quarter cash flow. Revenue performance was in line with our expectations, and we continued to complement our organic growth with strategic, accretive acquisitions that enhance our differentiation and drive long-term shareholder value," said Carey Smith, chair, president, and chief executive officer.

"Looking forward, we are very optimistic about our future. There is increasing global demand for both defense and infrastructure. Our ability to deliver operationally relevant solutions with speed, digitally transform our offerings, and leverage non-traditional commercial business models enables us to uniquely meet our customers’ critical needs. We have a unique and synergistic Critical Infrastructure and Federal Solutions portfolio, consisting of six growing, profitable, and enduring end-markets. With our record total and funded backlog, robust pipeline of large opportunities, strong win rates, and $11 billion in awarded contracts not yet booked, we believe we are well positioned to deliver for our customers and shareholders."

First Quarter 2026 Results

Year-over-Year Comparisons (Q1 2026 vs. Q1 2025)

Total revenue for the first quarter of 2026 decreased by $63 million, or 4%, to $1.5 billion and was down 8% on an organic basis. Excluding the company's confidential contract, total revenue increased 8% and organic revenue increased 3% driven by growth in the company's Critical Infrastructure and Protection, Space and Missile Defense, and Transportation markets. Operating income decreased 12% to $96 million primarily due to lower volume on the company's fixed-price confidential contract, and higher acquisition-related expenses. Net income decreased 20% to $53 million due to the items noted above. GAAP diluted earnings per share (EPS) attributable to Parsons was $0.49 in the first quarter of 2026, compared to $0.60 in the prior year period.

Adjusted EBITDA including noncontrolling interests for the first quarter of 2026 was $151 million, a 1% increase over the prior year period. Adjusted EBITDA margin expanded 50 basis points to 10.1% compared to 9.6% in the first quarter of 2025. These increases were driven by improved execution and contributions from accretive acquisitions, offsetting lower revenue on the company's confidential contract. Adjusted diluted EPS was $0.79 in the first quarter of 2026, compared to $0.78 in the first quarter of 2025. The year-over-year adjusted diluted EPS increase was driven by the items that impacted adjusted EBITDA above.

parsons.com

©Parsons Corporation. All Rights Reserved. 2

Segment Results

Critical Infrastructure Segment

Critical Infrastructure Year-over-Year Comparisons (Q1 2026 vs. Q1 2025)

Three Months Ended

Growth

March 31, 2026

March 31, 2025

Dollars/ Percent

Percent

Revenue

$

732,828

$

711,803

$

21,025

3

%

Adjusted EBITDA

$

79,359

$

73,193

$

6,166

8

%

Adjusted EBITDA margin

10.8

%

10.3

%

0.5

%

5

%

First quarter 2026 Critical Infrastructure revenue increased $21 million, or 3%, from the first quarter of 2025. This increase was driven by organic growth of 2% and inorganic revenue contributions from the company's TRS Group and Applied Sciences acquisitions. Organic growth was primarily driven by the Global Transportation markets.

First quarter 2026 adjusted EBITDA including noncontrolling interests increased by $6 million, or 8%, compared to the prior year period. Adjusted EBITDA margin expanded 50 basis points to 10.8% from 10.3% in the prior year period. Both adjusted EBITDA dollars and margins were first quarter records for Critical Infrastructure. These increases were driven by the

8-K

0000275880false00002758802026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 11, 2026

Parsons Corporation (Exact name of Registrant as Specified in Its Charter)

Delaware

001-07782

95-3232481

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

14291 Park Meadow Drive, Suite 100

Chantilly, Virginia

20151

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (703) 988-8500

Centreville, Virginia 21120

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $1 par value

PSN

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 11, 2026, Parson Corporation (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2025 and certain other financial information. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 Item 9.01 Financial Statements and Exhibits. (d) Exhibits:

The following exhibit is furnished as part of this Report pursuant to Item 2.02

99.1 Press Release Dated February 11, 2026, announcing the Company’s financial results for the year ended December 31, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

The information disclosed pursuant to Items 2.02 and 9.01 in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for the purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to the liabilities of that section. Furthermore, the information disclosed pursuant to Items 2.02 and 9.01 of this Current Report on Form 8-K, including the exhibit, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, of the Securities Exchange Act of 1934, as amended

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Parsons Corporation

Date:

February 11, 2026

By:

/s/ Matthew M. Ofilos

Matthew M. Ofilos Chief Financial Officer

8-K

false000027588000002758802025-11-052025-11-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 05, 2025

Parsons Corporation (Exact name of Registrant as Specified in Its Charter)

Delaware

001-07782

95-3232481

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

14291 Park Meadow Drive, Suite 100

Chantilly, Virginia

20151

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (703) 988-8500

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $1 par value

PSN

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On November 5, 2025, Parson Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2025 and certain other financial information. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 Item 9.01 Financial Statements and Exhibits. (d) Exhibits:

The following exhibit is furnished as part of this Report pursuant to Item 2.02

99.1 Press Release Dated November 5, 2025, announcing the Company’s financial results for the quarter ended September 30, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

The information disclosed pursuant to Items 2.02 and 9.01 in this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for the purposes of Section 18 of the Securities Act of 1934, as amended, or otherwise subject to the liabilities of that section. Furthermore, the information disclosed pursuant to Items 2.02 and 9.01 of this Current Report on Form 8-K, including the exhibit, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, of the Securities Exchange Act of 1934, as amended

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Parsons Corporation

Date:

November 5, 2025

By:

/s/ Matthew M. Ofilos

Matthew M. Ofilos Chief Financial Officer