Parsons Reports $1.6B in Q2 2026 Revenue, $9.3B Backlog
Parsons reported Q2 2026 revenue of $1.6B, down 1% year over year, with $9.3B backlog and a 1.2x book-to-bill on net bookings of $1.9B. Net income fell to a $15M loss. Adjusted EBITDA was $161M, margin 10.1%. The company cited defense contract wins and M&A strategy.
How this was made
The 30-second read
Why it matters
Key tradable elements are the earnings metrics (revenue, net income/loss, adjusted EBITDA and margins), backlog and book-to-bill (demand signal), and contract awards (TEAMS-Next extension, OTA wins, Navy/NRL IDIQs) plus portfolio actions (divestment of SETA contracts).
Market read
A fresh earnings and backlog disclosure with multiple large contract awards and margin commentary, likely driving near-term positioning around defense services demand and execution.
What to watch
The article highlights divestment of two SETA contracts and portfolio-shaping charges; traders may want to separate one-time items from sustainable margin trajectory and watch for follow-through in federal segment organic growth.
Background
Parsons is a defense and infrastructure engineering contractor reporting Q2 2026 results, backlog, and contract wins, alongside commentary on M&A and FY 2027 positioning.
Ticker impact
Parsons reported Q2 2026 revenue of $1.6B, net loss of $15M, $9.3B backlog, and 1.2x book-to-bill on $1.9B net bookings.
Likely modest positive bias if investors focus on backlog and book-to-bill, but earnings loss and segment softness could cap upside.
Article provides concrete earnings and backlog metrics plus segment EBITDA margin changes excluding charges, but no explicit FY 2027 numeric guidance or consensus comparison.
Market effects
Reinforces demand visibility for defense IT, cyber, missile defense engineering, and space-ground software work, which can influence sentiment across government services peers.
Limited direct regional read-through; primarily US federal contracting and defense spending narrative.
Low global relevance beyond defense spending and Middle East program performance referenced by management.
Counterpoint
Investors may discount backlog quality if revenue is down and federal solutions reported EBITDA loss on a reported basis, implying near-term execution or charge-driven optics.
Key entities
- companyParsons
Defense and infrastructure engineering contractor reporting Q2 2026 revenue, backlog, and contract wins.
- personCarey Smith
Parsons CEO who discussed contract wins, M&A strategy, and FY 2027 outlook.
- government_agencyMissile Defense Agency
Agency referenced for a TEAMS-Next Systems Engineering contract extension.
- government_agencyU.S. Naval Research Laboratory
Referenced as awarding a five-year IDIQ for mission-critical software modules and cybersecurity.
- government_agencyU.S. Cyber Command
Referenced for intent to raise the JCHK contract ceiling to $750M.
