Parsons reports Q2 adjusted EPS 78c, consensus 74c

Reports Q2 revenue $1.58B, consensus $1.6B. “We are pleased with our second quarter results as we delivered strong total and organic revenue growth across our core business, 40 basis points of margin expansion and exceptional free cash flow. In addition, we continued to leverage our balance sheet to close another strategic accretive acquisition. We continue to capitalize on unprecedented global infrastructure spending and the increasing demand for national security solutions that are aligned to the Administration’s priorities. We are very excited about our future given our team’s strong execution, the exceptional tailwinds we have in both segments, our large total and funded backlog, and our strong pipeline of big opportunities. This backdrop positions Parsons (PSN) to continue to outpace industry growth rates and deliver significant shareholder value over the long-term,” said Carey Smith, chair, president and CEO.