Parsons posts record Q3 earnings, expands backlog and announces CFO resignation
+3 new sources since this summary was written
Parsons Corporation reported third‑quarter 2026 revenue of $1.7 billion, a 2% year‑over‑year increase, and a record adjusted EBITDA of $168 million with a 10.2% margin. The company’s total backlog rose to $9.4 billion, of which $6.8 billion is funded, and it secured a $750 million contract with U.S. Cyber Command. Chief Financial Officer Matt Ofilos will resign effective Nov. 6, 2026, and board member George Ball will serve as interim CFO.
Why it matters
The record earnings and expanded backlog reinforce Parsons’ growth outlook, but the CFO turnover could affect financial execution and investor confidence (the company noted the change). The large funded backlog provides visibility for future cash flow.
Key facts
- 1Q3 2026 revenue was $1.7 billion, up 2% year‑over‑year. stocktitan.net
- 2Adjusted EBITDA reached a record $168 million, a 6% increase, with a margin of 10.2%. stocktitan.net
- 3Total backlog grew to $9.4 billion, up 6% year‑over‑year. stocktitan.net
- 4Funded backlog rose to $6.8 billion, up 7% year‑over‑year. stocktitan.net
- 5Parsons received a contract award valued at $750 million from U.S. Cyber Command. stocktitan.net
- 6Chief Financial Officer Matt Ofilos will resign effective November 6, 2026; George Ball will serve as interim CFO. tradingview.com
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.