Parsons

Q2 FY2026 EarningsQ2 FY2026 results were significantly impacted by $118M in portfolio-shaping charges and joint venture losses, leading to a major miss on bottom-line metrics. GAAP EPS of ($0.14) and Adjusted Diluted EPS of ($0.06) both fell far short of the $0.49 and $0.76 consensus mean, respectively. Revenue of $1.58B was slightly below the $1.61B consensus, while management lowered FY2026 revenue guidance to $6.2B-$6.5B and slashed Adjusted EBITDA guidance by ~18% at the midpoint. Despite these headwinds, a record 1.2x book-to-bill ratio and 10% organic growth in the Middle East suggest resilient underlying demand.