Parsons Q1 revenue rises 31% to $1.5 billion; net loss of $107 million on debt charge
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 01, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.