Parsons Corporation provides technology-driven solutions for national security and global infrastructure markets through Federal Solutions and Critical Infrastructure activities. Company news commonly covers U.S. government and defense contract awards, nuclear enterprise mission assurance support, energy resilience and microgrid work, program management, transportation design, and digital infrastructure technologies such as demand response systems and TAK-as-a-Service.
Updates also report quarterly results, backlog, book-to-bill trends, guidance, acquisitions, and project milestones across cyber and electronic warfare, space and missile defense, transportation, water, environment, urban development, and critical infrastructure protection.
Parsons (PSN) announced that Matt Ofilos will resign as executive vice president and chief financial officer, effective November 6, 2026. He is leaving to pursue another professional opportunity; his resignation does not result from any disagreement over company operations, policies or practices.
The board appointed George Ball, a former Parsons CFO and current director, as interim CFO effective the same day while it searches for a permanent successor. Ball served as CFO from 2008 to 2022. Separately, Parsons reaffirmed the midpoint and narrowed its fiscal 2026 revenue and adjusted EBITDA guidance ranges, while reiterating its operating cash flow guidance range.
Parsons (NYSE: PSN) reported third-quarter 2026 revenue of $1.7 billion, with higher adjusted profitability and operating cash flow but lower net income. Revenue rose 2% year over year but fell 1% organically. Net income fell 16% to $54 million, reflecting higher transaction-related expenses; diluted earnings per share declined to $0.51 from $0.59. Adjusted EBITDA, a non-GAAP profit measure, rose 6% to a record $168 million, with a record 10.2% margin.
Operating cash flow increased to $269 million from $163 million. Net bookings reached $1.8 billion, while total and funded backlog reached records of $9.4 billion and $6.8 billion. Parsons narrowed its 2026 revenue outlook to $6.25–$6.45 billion and adjusted EBITDA outlook to $510–$550 million, retaining both midpoints; operating cash flow guidance remained $430–$490 million. A definitive agreement covers the remote-location contracts divestiture, with contract transfer approval being finalized.
Parsons (NYSE: PSN) received federal approval for its technology to remediate soil contaminated with per- and polyfluoroalkyl substances, known as PFAS.
The U.S. Department of War’s Environmental Security Technology Certification Program and Defense Innovation Unit issued a Success Memo. It enables government buyers to pursue follow-on production contracts without additional competitive procedures. Parsons demonstrated its patented thermal conduction heating technology in a competitive prototype project, removing PFAS from impacted soil on-site to below laboratory reporting limits. The process eliminated transportation and offsite disposal of large amounts of contaminated material.
Parsons (NYSE: PSN) will release its third-quarter 2026 financial results before the market opens on October 28, 2026.
A conference call at 8:00 a.m. Eastern Time that day will cover earnings and guidance, followed by questions and answers. A webcast will be accessible through the investor relations website, with a replay available approximately two hours after the call for one year.
Parsons (PSN) won an initial $85 million agreement to advise development of U.S. Space Command's new headquarters in Alabama.
Army Contracting Command – Rock Island selected Parsons in coordination with the Air Force Civil Engineering Center. The agreement has a 75-month performance period and represents new work for Parsons. As Owner's Advisor, Parsons will provide program and construction management support through planning, design, construction and operationalization. It will help the government manage scope, cost, schedule, quality and risk for a planned 950,000-square-foot campus at Redstone Arsenal that will support up to 1,800 personnel.
Parsons (PSN)/b) secured nine digital solutions designated as “Awardable” across two Department of War (DoW) digital marketplaces as of September 14, 2026.Six offerings were recognized in the Tradewinds Solutions Marketplace: Ground Operations Command as a Service (GOCaaS), OrbitXchange™, SPARTAN Antenna, DroneArmor™, C2Core® Air, and Assured Positioning System (APS™). These products span automated satellite operations, secure satellite communications, multi-spacecraft antenna systems, counter-drone command-and-control, distributed air operations planning, and resilient positioning, navigation, and timing when GPS or other GNSS signals are degraded.
Three solutions were designated “Awardable” in the Platform One Solutions Marketplace: the Modern Extract, Transform, and Load (METAL) application development approach, Support Velocity Helpdesk Automation, and the TReX signal and channel emulation tool, enabling faster evaluation, procurement, and deployment of mission-ready software and testing capabilities.
Parsons (PSN)/b) will participate in a fireside chat Q&A at the 2026 Jefferies Global Industrials Conference on September 9, 2026, at approximately 9:30 a.m. Eastern Time.The session with chair, president and CEO Carey Smith and CFO Matt Ofilos will be available via live webcast on Parsons’ investor relations website, with a replay accessible for 30 days after the event.
Parsons (NYSE: PSN) announced its selection to participate in the Trump Administration’s Project Watershed 250, a scalable water cybersecurity pilot program launched in San Antonio, Texas, to protect critical water infrastructure. Parsons plans to contribute red teaming, vulnerability assessments, remediation, mitigation, and AI-enabled cyber defense.
According to Parsons, the company brings more than 80 years of water and wastewater infrastructure experience and currently supports over 400 U.S. electric and water utilities, plus more than 60 years of work in Texas. The release also highlights Parsons’ broader cybersecurity portfolio, including roles with Los Angeles World Airports, the $16 billion Hudson Tunnel Project between New Jersey and New York, technology transformation programs at Dallas Fort Worth International Airport and Dallas Love Field Airport, and an on-call cybersecurity services contract for the Golden Gate Bridge Highway and Transportation District.
Parsons (NYSE: PSN) announced two new task orders, Middle East 3 (ME3) Region and Africa 2 Region, under the U.S. Department of Energy NNSA’s Counter Nuclear Smuggling Systems Deployment (CNSSD) contract. The awards cover counter-nuclear smuggling system design and deployment across 25 countries.
According to Parsons, the task orders run through a base period ending July 2027, with four option periods extending potential work to July 2031. These additions bring Parsons’ CNSSD portfolio to seven task orders totaling approximately $90 million in awarded value, building on its March 2024 selection for one of two positions on the CNSSD MATOC with a $1 billion ceiling.
Parsons (NYSE: PSN) announced it has been awarded a position on the U.S. Missile & Space Intelligence Center’s Contract Operations for Missile Evaluation and Testing (COMET) multiple-award IDIQ, which has a combined ceiling of more than $14 billion across awardees.
The COMET contract supports scientific and technical intelligence, foundational military intelligence, and analytical-enabling services across the Defense Intelligence Enterprise. Parsons will compete for task orders covering research, development, integration, sustainment of hardware, systems and software, and all-source analytical services, leveraging its long-standing missile, space, and intelligence experience in Huntsville and Dayton, as well as capabilities gained from its Altamira Technologies acquisition.