PARSONS CORP (PSN): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Parsons Corporation (NYSE:PSN) secured a $100 million contract amendment for environmental engineering services on the U.S. west coast, expanding an existing contract. The work includes sampling, waste characterization, and remediation. The client and project locations were not disclosed. The contract's ceiling value is $100 million, with actual revenue depending on task orders.

Parsons' subsidiary Altamira won a $63M contract to support the National Air & Space Intelligence Center's Collaboration Collection. The contract covers development, maintenance, and enhancement of capabilities. Parsons is publicly traded on the NYSE under the ticker PSN.

Parsons Corporation (PSN) secured a $63M, four-year task order from the National Air & Space Intelligence Center. The contract is a post-acquisition win for Altamira, acquired in January 2026. No prior-period comparison was provided.

Palantir's U.S. commercial revenue surpassed government revenue for the first time in Q3, while Booz Allen, CACI, and BigBear.ai reported larger backlogs and raised full-year targets. Parsons narrowed its guidance. Federal funding deadline is Dec. 11, with budget uncertainty lingering. Palantir reported $2.313B Q3 revenue, raising FY2026 guidance to $8.530B-$8.534B. Booz Allen's Q2 revenue was $2.8B, with raised EPS guidance. CACI's Q1 revenue was $2.5B, with raised FY2027 revenue guidance.

Parsons reported Q3 earnings, highlighting $100M+ contract wins and $850M in awards under protest. Federal Solutions revenue grew 9% YoY, while Critical Infrastructure set a record with $846M revenue. The company narrowed full-year revenue guidance to $6.25B-$6.45B and adjusted EBITDA to $510M-$550M. Parsons also announced CFO Matt Ofilos' departure and George Ball's interim appointment.

Parsons Corporation reported Q3 2026 earnings with a 10.2% adjusted EBITDA margin, driven by growth and improved execution. The company is divesting remote contracts to focus on higher-margin opportunities. Federal Solutions and Critical Infrastructure segments showed strength. Management narrowed 2026 revenue and EBITDA guidance but maintained a wider cash flow range due to geopolitical volatility. Product-related revenue is expected to grow 20-30% in 2027.