Recent Updates — PSN

Matt Ofilos is stepping down as Chief Financial Officer of Parsons Corporation, effective November 6, 2026, to pursue another professional opportunity. The Board has appointed George Ball, a board member and former CFO who served from 2008 to 2022, as Interim CFO starting the same date. As compensation for his interim service, Ball will receive a $2,400,000 award of restricted stock units vesting on the one-year anniversary, subject to pro-ration based on actual service period. The departure is not due to any disagreement regarding operations or policies. Parsons operates as a leading disruptive technology provider in national security and global infrastructure markets.

Parsons Corporation reported third-quarter 2026 results with total revenue reaching $1.7 billion, a 2% increase year-over-year, while adjusted EBITDA hit a record $168 million, up 6%. Net income decreased to $54 million due to transaction-related expenses, resulting in diluted EPS of $0.51 compared to $0.59 in the prior year period. The company achieved a book-to-bill ratio of 1.1x and reported record total backlog of $9.4 billion. Additionally, CFO Matt Ofilos announced his resignation effective November 6, 2026, with former CFO George Ball appointed as interim CFO. Parsons Corporation is a leading provider of disruptive technology solutions in national security and global infrastructure markets.

Parsons Corporation reported second quarter 2026 financial results on July 29, 2026. Total revenue decreased 1% year-over-year to $1.6 billion, while net income turned to a loss of $15 million compared to prior year profit, driven by $118 million in charges related to portfolio-shaping actions and joint venture programs. Adjusted EBITDA fell 72% to $42 million, though excluding charges it increased 8% to $161 million. The company achieved a book-to-bill ratio of 1.2x with net bookings of $1.9 billion, bringing total backlog to $9.3 billion. Parsons revised its fiscal year 2026 guidance downward, lowering revenue expectations to $6.2–$6.5 billion and adjusted EBITDA to $500–$560 million. The company operates in the national security and global infrastructure markets.