PARSONS CORP — Form 8-K
Filed October 28, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Parsons reported Q3 2026 revenue of $1.7B (up 2% YoY), adjusted EBITDA of $168M (record, up 6%), and adjusted EBITDA margin of 10.2% (record, +40 bps). Total backlog reached record $9.4B (up 6%), funded backlog $6.8B (up 7%). Contract awards increased 14% YoY to $1.8B with 1.1x book-to-bill. However, CFO Matt Ofilos resigned effective November 6, 2026; interim CFO George Ball (former CFO 2008–22) appointed. Company narrowed FY2026 guidance: revenue $6.25–6.45B (from $6.20–6.50B), adjusted EBITDA $510–550M (from $500–560M), maintaining operating cash flow guidance at $430–490M.
Why this rating
Strong operational momentum (record EBITDA, growing backlog, 14% award growth) is positive, but CFO departure and moderately narrowed guidance are offsetting factors. Relative to $7.7B market cap, the core business performance is solid but not transformational; CFO transition creates modest uncertainty. Most material is $9.4B backlog, ~122% of cap.
See more from October 28, 2026.
EDGAR·FLOW summarizes public SEC EDGAR filings with automated analysis. Materiality scores and stock-impact predictions are algorithmically generated and are not investment advice. Always verify against the source filing on SEC.gov.