Every material Form 8-K Parsons has filed with the SEC since May 01, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Parsons Corporation (NYSE: PSN) said CFO Matt Ofilos will resign effective November 6, 2026, to pursue another professional opportunity, and that his resignation is not due to a disagreement with the company. The board appointed George Ball, a former CFO and current director, as interim CFO on the same date while it searches for a permanent successor.
Matt Ofilos resigns as CFO effective November 6, 2026; the filing says there was no disagreement on operations, policies or practices.
George Ball, CFO from 2008 to 2022 and a board member since 2022, was appointed interim CFO on October 26, 2026, effective November 6, 2026.
Ball will receive a $2.4 million restricted stock unit award that vests on the one-year anniversary, pro-rated for his actual interim service period.
The same-day third-quarter 2026 earnings release reaffirmed the fiscal 2026 revenue and adjusted EBITDA guidance midpoints and narrowed the ranges.
Parsons reported third-quarter 2026 results on October 28, 2026. Revenue rose 2% to $1.7 billion and adjusted EBITDA reached a record $168 million, but net income fell 16% to $54 million and GAAP diluted EPS was $0.51 versus $0.59, which the company attributed mainly to transaction-related expenses. CFO Matt Ofilos will resign effective November 6, 2026, and director George Ball was named interim CFO, while fiscal 2026 revenue and adjusted EBITDA guidance midpoints were reiterated after the ranges were narrowed.
Q3 2026 revenue was $1.7 billion, up 2% year-over-year and down 1% on an organic basis
Net income was $54 million versus $64 million a year earlier; GAAP diluted EPS was $0.51 versus $0.59
Adjusted EBITDA rose 6% to a record $168 million; adjusted EBITDA margin was a record 10.2%
CFO Matt Ofilos resigns effective November 6, 2026; George Ball appointed interim CFO
Parsons reported second quarter 2026 results on July 29, 2026, with revenue of $1.6 billion, down 1% from a year earlier, and a net loss attributable to Parsons of $15 million compared with net income of $55 million a year earlier. The company attributed the decline mainly to $118 million in charges tied to portfolio-shaping actions and a joint venture program, and it lowered its fiscal 2026 revenue and adjusted EBITDA guidance, which weighs on shareholders.
Q2 2026 revenue of $1.6 billion, down 1% year over year and down 5% on an organic basis
Net loss attributable to Parsons of $15 million, or $(0.14) per diluted share, versus net income of $55 million, or $0.50 per share, a year earlier
Adjusted EBITDA fell 72% to $42 million; excluding $118 million in charges, it rose 8% to $161 million
Fiscal 2026 revenue guidance lowered to $6.2 billion to $6.5 billion from $6.5 billion to $6.8 billion; adjusted EBITDA guidance lowered to $500 million to $560 million from $615 million to $675 million
Parsons reported first quarter 2026 results for the quarter ended March 31, 2026. Revenue fell 4% to $1.5 billion and net income attributable to Parsons fell 20% to $53 million, while adjusted EBITDA rose 1% to $151 million. The company reiterated its fiscal 2026 revenue, adjusted EBITDA and operating cash flow guidance ranges.
Q1 2026 revenue of $1.5 billion, down $63 million or 4% year over year; organic revenue down 8%
GAAP diluted EPS of $0.49 versus $0.60 a year earlier; adjusted diluted EPS of $0.79 versus $0.78
Adjusted EBITDA of $151 million, up 1%; total backlog a record $9.3 billion
Fiscal 2026 guidance reiterated: revenue $6,500 million to $6,800 million, adjusted EBITDA $615 million to $675 million
Parsons announced that Soo Lagasse, its senior vice president of global talent acquisition and mobility, will become chief human resources officer effective April 1, 2026. Susan Balaguer, the current CHRO, is retiring effective the same date and will stay in an advisory role through the end of May 2026, with a one-time $250,000 cash bonus approved by the board.
Soo Lagasse succeeds Susan Balaguer as CHRO effective April 1, 2026; she joined Parsons in 2021
Balaguer retires as CHRO effective April 1, 2026 and remains in an advisory role through the end of May 2026
Board approved a one-time $250,000 cash bonus for Balaguer as part of her final payment for service
Parsons' board approved a stock award for CEO Carey A. Smith on February 20, 2026, with a target grant-date value of $10 million, split 60% performance stock units and 40% restricted stock units. The award is meant to recognize her performance and retain her, and its performance units pay out based on the company's relative total stockholder return against a custom peer group, so pay depends on how the stock performs against peers.
Board approved the award on February 20, 2026, with a target grant-date value of $10 million.
PSUs (60%) cover January 1, 2026 through December 31, 2029; target payout is $6 million at the 65th percentile of relative TSR.
RSUs (40%) vest ratably over four years starting March 10, 2026, about $1 million per year at target.
PSU payout is zero at or below the 35th percentile and capped at $9 million (150% of target) at or above the 75th percentile.
Parsons reported fourth-quarter and full-year 2025 results on February 11, 2026. Full-year revenue fell 6% to $6.4 billion, driven by a 20% decline in Federal Solutions, while net income rose 3% to $241 million and diluted EPS rose to $2.20 from $2.12. The company also set fiscal 2026 revenue guidance of $6.5 billion to $6.8 billion, with adjusted EBITDA of $615 million to $675 million.
Q4 2025 revenue was $1.6 billion, down 8% year over year; net income was $56 million, up 3%, and diluted EPS was $0.51 versus $0.49.
Fiscal 2025 revenue was $6.4 billion, down 6%; net income was $241 million, up 3%, and diluted EPS was $2.20 versus $2.12.
Federal Solutions full-year revenue fell $786 million, or 20%, to $3.2 billion, mainly due to lower volume on a fixed-price confidential contract.
Fiscal 2026 guidance: revenue $6.5 billion to $6.8 billion; adjusted EBITDA $615 million to $675 million; operating cash flow $470 million to $530 million.
Parsons Corporation appointed John T. Martinez as its Chief Legal Officer, effective February 16, 2026, succeeding Michael R. Kolloway, who has held the role since 2017 and plans to retire in the second quarter of 2026. Martinez brings more than 25 years of legal experience, including prior chief legal officer and general counsel roles at Maximus, GE Aerospace and Raytheon Technologies subsidiaries.
John T. Martinez named Chief Legal Officer, effective February 16, 2026
Predecessor Michael R. Kolloway has served as CLO since 2017 and will remain as an advisor until retirement in Q2 2026
Martinez previously served as chief legal officer and corporate secretary at Maximus, Inc. and vice president and general counsel at GE Aerospace
Parsons Corporation's board elected Robert H. Smith as a director effective December 1, 2025, and increased the board size to 12 members. Smith, former CEO of Blue Origin, joins as a Class I director with a term expiring at the 2026 annual meeting. The filing describes the appointment as adding relevant aerospace and government experience, though it gives no financial figures.
Robert H. Smith elected to the board effective December 1, 2025, as a Class I director
Board size increased to 12 members; term expires at the 2026 annual meeting of stockholders
Smith was CEO of Blue Origin from 2017 through January 2024 and has served on Parsons' Strategic Advisory Board since April 2024
Smith will receive cash and equity compensation under the non-employee director policy
Parsons reported third quarter 2025 revenue of $1.6 billion, down 10% from a year earlier, and net income attributable to Parsons of $64 million, down from $72 million. The company lowered its fiscal 2025 revenue guidance, while reiterating its adjusted EBITDA and operating cash flow ranges at the mid-point, which matters to shareholders because the lower revenue outlook signals weaker top-line expectations for the year.
Q3 2025 revenue was $1.6 billion, down 10% year over year and down 14% on an organic basis.
Q3 GAAP diluted EPS was $0.59, compared with $0.65 in the prior year period.
Fiscal 2025 revenue guidance is now $6,400 million to $6,500 million, down from $6,480 million to $6,680 million; adjusted EBITDA ($600 million to $630 million) and operating cash flow ($380 million to $460 million) ranges were reiterated a
Total backlog was $8.8 billion at September 30, 2025, with a book-to-bill ratio of 1.0x for the quarter.
Parsons reported second-quarter 2025 results on August 6, 2025, with revenue down 5% year-over-year and net income attributable to Parsons down 20% to $55 million. The company raised its fiscal 2025 guidance ranges for revenue, adjusted EBITDA and cash flow from operations, and reported total backlog of $8.9 billion. For shareholders, weaker quarterly profit and revenue sit alongside a higher full-year outlook.
Q2 2025 revenue was $1.6 billion, down 5% year-over-year and down 9% on an organic basis.
Net income attributable to Parsons was $55 million, versus $69 million a year earlier; diluted EPS was $0.50 versus $0.63.
Adjusted EBITDA was $149 million, down 1%, while adjusted EBITDA margin rose 40 basis points to 9.4%.
Fiscal 2025 revenue guidance was raised to $6,480 million-$6,680 million from $6,450 million-$6,650 million.
Parsons entered into a $450 million unsecured term loan and a $750 million unsecured revolving credit facility on June 5, 2025, with Bank of America as administrative agent. The new term loan paid off a $350 million delayed draw term loan, and the new revolver replaced the 2021 revolving credit agreement, which was paid off in full, so the company's borrowing terms are refreshed ahead of older maturities. The filing does not report revenue, profit, or guidance, so it does not show direct effects on operating results.
$450 million term loan, three-year maturity, no required amortization; initial rate set at the middle of a Term SOFR plus 0.875% to 1.500% range
$750 million revolver, five-year maturity, with no amounts funded at closing; initial rate set at the middle of a Term SOFR plus 1.00% to 1.625% range
Proceeds used to repay the $350 million 2022 delayed draw term loan and the 2021 revolver, with remaining amounts available for working capital and general corporate purposes
Parsons reported first-quarter 2025 results, with revenue up 1% to $1.6 billion and GAAP diluted EPS of $0.60, compared with $0.37 a year earlier. The company reiterated its fiscal 2025 guidance ranges for revenue, adjusted EBITDA and operating cash flow. Organic revenue fell 2% and operating cash flow was negative $12 million, so the profit gains are the main positive for shareholders.
Revenue of $1.6 billion rose $19 million, or 1%, year over year, and fell 2% on an organic basis.
Net income attributable to Parsons was $66 million, up from $40 million; diluted EPS was $0.60 versus $0.37.
Adjusted EBITDA was $149 million, up 5%; adjusted EPS was $0.78 versus $0.70.
Fiscal 2025 guidance reiterated: revenue of $7.0 billion to $7.5 billion and adjusted EBITDA of $640 million to $710 million.
Parsons reported record fourth-quarter and full-year 2024 results, with full-year revenue of $6.8 billion, up 24%, and net income attributable to Parsons of $235 million, up 46%. The company also issued fiscal 2025 guidance of $7.0 billion to $7.5 billion in revenue and $640 million to $710 million in adjusted EBITDA, which gives shareholders a benchmark for the year ahead.
Q4 2024 revenue rose 16% to $1.7 billion, and net income rose 21% to $54 million
Q4 adjusted EBITDA margin was 8.5%, versus 8.6% a year earlier, after $29 million of adjustments on two programs
FY2025 guidance: revenue $7.0 billion to $7.5 billion; adjusted EBITDA $640 million to $710 million; operating cash flow $420 million to $480 million
Full-year 2024 operating cash flow was $524 million, up 28%
Parsons Corporation reported record third-quarter 2024 revenue of $1.8 billion, up 28%, and net income attributable to Parsons of $72 million, up 52%. The company raised its fiscal 2024 revenue, adjusted EBITDA, and operating cash flow guidance ranges, citing its third-quarter performance and the BlackSignal acquisition.
Q3 2024 revenue rose 28% to $1.8 billion; net income rose 52% to $72 million; diluted EPS was $0.65 versus $0.42 a year earlier.
Fiscal 2024 revenue guidance raised to $6.6 billion-$6.8 billion from $6.35 billion-$6.55 billion; adjusted EBITDA guidance raised to $590 million-$620 million.
Critical Infrastructure adjusted EBITDA fell 25% to $47 million in Q3, driven by a write-down on a legacy program.
Nine-month net income attributable to Parsons was $33.8 million, down from $116.2 million, after a $211 million loss on extinguishment of debt.
Parsons reported second-quarter 2024 revenue of $1.7 billion, up 23% from a year earlier, and net income attributable to Parsons of $69 million, up 60%. The company raised its fiscal 2024 revenue, adjusted EBITDA and operating cash flow guidance ranges, and said it has agreed to acquire BlackSignal Technologies for approximately $200 million.
Q2 2024 revenue $1.7 billion, up 23%; organic growth 22%
Q2 diluted EPS $0.63 vs. $0.38 a year earlier; adjusted EBITDA $150 million, up 27%
FY2024 revenue guidance raised to $6.35 billion-$6.55 billion from $6.1 billion-$6.4 billion
Six-month net loss attributable to Parsons of $38.2 million, including a $211 million loss on extinguishment of debt
Parsons reported first-quarter 2024 revenue of $1.5 billion, up 31% from a year earlier, and raised its fiscal 2024 revenue, adjusted EBITDA, and operating cash flow guidance. The company posted a net loss of $107 million because of a $214 million pre-tax charge tied to repurchasing part of its 2025 convertible notes, so shareholders see stronger operations offset by a large one-time loss.
Revenue of $1.5 billion, up $362 million or 31% year over year; adjusted EBITDA of $141 million, up 56%
Net loss of $107 million, or $1.01 per diluted share, including a $214 million pre-tax charge on convertible note repurchases; excluding that charge, diluted EPS would have been $0.49
Fiscal 2024 revenue guidance raised to $6.1 billion-$6.4 billion from $5.8 billion-$6.0 billion; adjusted EBITDA guidance raised to $535 million-$575 million
Total backlog of $9.0 billion, up 8%; book-to-bill ratio of 1.4x on $2.1 billion of net bookings
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