Parsons Corporation (PSN) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Parsons published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Parsons reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Parsons reports in thousands of dollars; the figures on this page are converted to millions.
• Parsons' confidential contract in Federal Solutions has run at reduced volume since a Department of State reorganization issued May 29, 2025, which is why Parsons also gives growth rates that exclude it.

Source: Parsons Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Parsons splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Parsons's Federal Solutions revenue was $805 million in Q3 2026, up 2% from $789 million in Q3 2025, 49% of total revenue.
• Parsons's Critical Infrastructure revenue was $846 million in Q3 2026, up 2% from $833 million in Q3 2025, 51% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Parsons said:

“The company is narrowing and reiterating the mid-point of its fiscal year 2026 revenue and adjusted EBITDA guidance ranges and reiterating its operating cash flow guidance range.”

“We have not provided a reconciliation of our Adjusted EBITDA guidance because the information needed to reconcile this measure is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, which may be significant.”

Source: Parsons Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PSN forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and GAAP diluted EPS attributable to Parsons, each as first reported in that quarter's release.

We do not hold a confirmed date for Parsons's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Parsons reports two segments of nearly equal size. In Q3 2026 Critical Infrastructure revenue was $846 million and Federal Solutions $805 million, each up 2%. Total revenue rose $29 million, or 2%, to $1.7 billion and fell 1% on an organic basis. Excluding its confidential contract, Parsons' revenue rose 5% and organic revenue 2%, driven by its Cyber and Electronic Warfare and Transportation markets. (Parsons Q3 2026 release, Oct 28, 2026)

Federal Solutions sells technology and engineering to the U.S. government for cyber operations, missile defense, space and electronic warfare. Its Q3 2026 revenue fell 3% organically, but excluding the confidential contract it rose 9%, and 3% organically, with help from the Altamira acquisition. Parsons' 10-K says one customer set within the federal government exceeded 20% of its revenue in 2025. (Parsons Q3 2026 release, Oct 28, 2026; Parsons Form 10-Q, Q3 2026, Oct 28, 2026; Parsons Form 10-K, 2025, Feb 11, 2026)

Critical Infrastructure revenue reached an all-time high of $846 million on 1% organic growth, mainly in Transportation, plus revenue from the Applied Sciences acquisition. Parsons is winding down its participation in construction joint ventures, and a write down there turned equity in joint venture earnings into a loss for the first nine months of 2026. (Parsons Q3 2026 release, Oct 28, 2026; Parsons Form 10-Q, Q3 2026, Oct 28, 2026)

Parsons' contract mix shifted away from fixed-price work. In Q3 2026 cost-plus contracts produced $771.3 million of revenue, fixed-price $468.1 million (down from $535.9 million, mainly because of the fixed-price confidential contract) and time-and-materials $411.1 million. By customer location, North America accounted for $1,339.5 million and the Middle East for $306.5 million. (Parsons Form 10-Q, Q3 2026, Oct 28, 2026)

Parsons' GAAP diluted EPS fell to $0.51 from $0.59 while adjusted diluted EPS rose to $0.89 from $0.86. Net income fell 16% to $54 million, which Parsons attributed to higher transaction-related expenses. Its adjusted figures exclude acquisition related intangible asset amortization ($21.5 million), transaction-related costs ($16.2 million, against $5.1 million), equity-based compensation ($11.5 million) and other items, net of a tax effect of $11.2 million. (Parsons Q3 2026 release, Oct 28, 2026)

The effective tax rate rose to 23.3% from 16.4%, mainly because of higher valuation allowances against deferred tax assets for foreign tax credit carryforwards. Diluted shares were 106,755 thousand, against 109,078 thousand a year earlier, and Parsons spent $110.0 million repurchasing stock in the first nine months of 2026. (Parsons Form 10-Q, Q3 2026, Oct 28, 2026; Parsons Q3 2026 release, Oct 28, 2026)

Parsons does part of its work through consolidated joint ventures, which produced 13% of its revenue in 2025. The partners' share is deducted before EPS: net income attributable to noncontrolling interests was $13.3 million in Q3 2026, against $17.7 million. (Parsons Form 10-K, 2025, Feb 11, 2026; Parsons Q3 2026 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Parsons gives full-year guidance in its release for revenue, adjusted EBITDA and operating cash flow, with no EPS guidance. In Q3 2026 it narrowed the fiscal 2026 revenue range to $6.25 billion - $6.45 billion (from $6.20 billion - $6.50 billion) and adjusted EBITDA including non-controlling interest to $510 million - $550 million (from $500 million - $560 million), and kept cash flow from operating activities at $430 million - $490 million. (Parsons Q3 2026 release, Oct 28, 2026)

Parsons' CFO Matt Ofilos is resigning effective November 6, 2026, and George Ball, CFO from 2008 to 2022, becomes interim CFO. Parsons also plans to sell two Remote Programs in Federal Solutions, held for sale at September 30, 2026, and expects the sale and novation to be completed by the end of 2026. (Parsons Q3 2026 release, Oct 28, 2026; Parsons Form 10-Q, Q3 2026, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Parsons, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Parsons's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PSN is on is PSN a buy or a sell?, what analysts expect next is on the PSN forecast, and what the company does is on the Parsons Corporation (PSN) stock page.

Every number on this page can be traced to a document Parsons published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.