Parsons

Q2 FY2026 EarningsQ2 2026 revenue was $1.6B, down 1% YoY (down 5% organic). Net income fell to a loss of $15M, down 128% YoY, primarily due to $118M in non-operating charges related to portfolio divestitures and a joint venture program. Excluding these items, Adjusted EBITDA rose 8% to $161M with a margin of 10.1% (+70bps). Total backlog reached $9.3B (+4% YoY) with a strong 1.2x book-to-bill ratio, led by Federal Solutions bookings growth of 51%. FY2026 guidance was revised downward across revenue and Adjusted EBITDA to reflect portfolio-shaping actions.