A provider of advanced technology and infrastructure services, Parsons helps U.S. government agencies with cyber, space, and missile defense work while engineering transportation, water, and urban projects worldwide. Founded in 1944 by aeronautical engineer Ralph M. Parsons, the company began with post-war reconstruction and Cold War missile facilities. Its employees once owned the entire firm—the 1984 shift to employee ownership was reported as the largest such buyout in U.S. history.
Parsons reports Q2 2026 net loss of $15 million, revenue down 1% to $1.6 billion
Net income was ($15 million), down $70 million year-over-year, impacted by $85 million in net losses from portfolio-shaping actions and joint venture charges.
Show detailsHide details
Q2 2026 revenue was $1.6 billion, down 1% year-over-year and 5% on an organic basis.
Adjusted EBITDA decreased 72% to $42 million; excluding $118 million in charges, adjusted EBITDA rose 8% to $161 million.
Book-to-bill ratio was 1.2x on net bookings of $1.9 billion; total backlog increased to $9.3 billion.
Parsons Corporation stockholders elect four directors and approve auditor ratification and executive compensation at 2026 annual meeting.
Directors elected: Carey A. Smith, Letitia A. Long, Harry T. McMahon, and Robert H. Smith, with vote counts ranging from 77.7 million to 92.5 million for.
Show detailsHide details
At the April 14, 2026 annual meeting, Parsons Corporation stockholders elected four directors to three-year terms expiring at the 2029 annual meeting.
Stockholders ratified PricewaterhouseCoopers LLP as independent auditor for fiscal year 2026, with 95.4 million votes for and 2.9 million against.
Advisory vote on named executive officer compensation was approved, with 89.5 million for, 3.4 million against, and 360,241 abstentions.
The report was filed under Item 5.07 to disclose the results of these stockholder votes.
5.07 Submission of Matters to a Vote of Security Holders
Parsons promotes Soo Lagasse to CHRO as Susan Balaguer retires, effective April 1, 2026.
Susan Balaguer, Chief Human Resources Officer, announced retirement effective April 1, 2026, and will stay in an advisory role through end of May 2026.
Show detailsHide details
Soo Lagasse, currently SVP of global talent acquisition and mobility, will become CHRO effective April 1, 2026.
The Board approved a one-time $250,000 cash bonus for Balaguer as part of her final payment.
Balaguer served nearly five years, modernizing HR and achieving record hiring and retention results.
Lagasse joined Parsons in 2021 and led a talent acquisition overhaul with multiple record hiring quarters.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Parsons acquires Altamira Technologies for up to $375 million
Parsons Corporation announced the signing and closing of a Stock Purchase Agreement to acquire Altamira Technologies Corporation on January 15, 2026.
Show detailsHide details
The transaction is valued at up to $375 million, with $330 million paid in cash at closing and an additional $45 million cash earnout payable in Q1 2027 if certain 2026 EBITDA targets are met.
Altamira, founded in 1999 and headquartered in McLean, Virginia, provides signals intelligence, cyber, missile warning, and space capabilities, and will be aligned with Parsons' Defense & Intelligence business unit.
Parsons estimates Altamira will generate over $200 million in revenue in 2026, and the acquisition is expected to be accretive to Parsons' fiscal year 2026 revenue growth, adjusted EBITDA margin, and adjusted earnings per share.
The acquisition was reported under Item 8.01 as an other event, with the press release furnished as an exhibit.
8.01 Other Events · 9.01 Financial Statements and Exhibits