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High materiality8/10

Parsons Q3 2026 results show record EBITDA and backlog expansion

Oct 28, 2026, 6:44 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong backlog, record EBITDA/margin, and rising contract awards point to durable demand and potential multiples expansion if execution continues; positive for PSN cash flow and valuation near-term.

AI summary

What happened, with direct paths to the underlying reporting

Parsons reported a strong Q3 2026 with revenue of $1.7 billion, up 2% year over year and organic decline of 1%, alongside a record adjusted EBITDA of $168 million and 10.2% margin. Backlog reached a record $9.4 billion total and $6.8 billion funded, supported by a 14% YoY rise in contract awards (Federal Solutions up 53%). The company narrowed its fiscal year guidance while reaffirming operating cash flow targets, underscoring durable demand and execution momentum.

Q3 revenue $1.7B, +2% YoY; organic basis down 1%.
Adjusted EBITDA $168M; margin 10.2%; up 6% and at a record level.
Backlog total $9.4B; funded backlog $6.8B; both at record levels.
Contract awards up 14% YoY; Federal Solutions awards up 53%.
Definitive purchase agreement and novation progress for remote-location contracts.

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Parsons Q3 2026 results show record EBITDA and backlog expansion

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