Parsons Corporation announced on April 30, 2025, its first quarter 2025 financial results, reporting record performance across key metrics including net income, EPS, Adjusted EBITDA, and margin. Total revenue reached $1.55 billion, a 1.2% increase year-over-year, which missed Wall Street expectations. GAAP diluted EPS was $0.60, and Adjusted EPS was $0.78, exceeding analyst estimates.
Adjusted EBITDA for Q1 2025 was a record $148.8 million, up 5% year-over-year, resulting in a record first quarter Adjusted EBITDA margin of 9.6%. The Critical Infrastructure segment saw a robust 13.7% increase in revenue, driven by 8% organic growth and contributions from recent acquisitions. However, the Federal Solutions segment experienced a 7.4% revenue decrease, with a 9% organic decline, primarily due to a confidential contract operating at reduced volume.
Excluding the impact of this specific confidential contract, total revenue growth was 11% and organic growth was 7%. Parsons reiterated its 2025 guidance, projecting total revenue between $7.0 billion and $7.5 billion, representing 7% growth at the midpoint. Adjusted EBITDA is guided between $640 million and $710 million, indicating 12% growth at the midpoint, with a target Adjusted EBITDA margin of 9.3%.
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