Parsons Corporation Reports 1.2% Revenue Growth to $1.55 Billion in Q1 2025

Parsons Corporation reported its financial results for the first quarter of 2025, revealing a revenue increase to $1.55 billion, up 1.2% from $1.54 billion in the same period last year. The company attributed this growth primarily to a $85.7 million increase in its Critical Infrastructure segment, which was partially offset by a $67.1 million decline in the Federal Solutions segment. The operating income for the quarter rose to $109.2 million, compared to $101.8 million in the prior year, while net income attributable to Parsons Corporation increased to $66.2 million, or $0.60 per diluted share, from $39.8 million, or $0.37 per diluted share, in the previous year.

The company’s balance sheet showed total assets of $5.45 billion as of March 31, 2025, a slight decrease from $5.49 billion at the end of 2024. Current liabilities increased to $2.90 billion from $2.95 billion, while shareholders' equity rose to $2.45 billion from $2.42 billion. The increase in equity was driven by net income and a foreign currency translation adjustment, which contributed positively to the overall financial position.

Strategically, Parsons made significant acquisitions in the past year, including TRS Group, Inc. for $36.6 million, which specializes in environmental remediation technology, and BCC Engineering, LLC for $233.5 million, enhancing its infrastructure capabilities. The company also acquired BlackSignal Technologies, LLC for $203.7 million, expanding its offerings in cybersecurity and electronic warfare. These acquisitions are expected to bolster Parsons' market position and contribute to future revenue growth.

Operationally, Parsons reported a total backlog of $9.07 billion as of March 31, 2025, reflecting a stable demand for its services. The company’s remaining unsatisfied performance obligations (RUPO) stood at $6.8 billion, indicating a solid pipeline of future work. The company’s employee headcount was approximately 16,000, and it continues to focus on enhancing its operational efficiency and expanding its market share in both federal and critical infrastructure sectors.

Looking ahead, Parsons expressed optimism about its growth trajectory, driven by ongoing investments in technology and infrastructure, as well as the anticipated increase in government spending on defense and infrastructure projects. The company remains committed to leveraging its recent acquisitions to enhance service offerings and drive profitability, while maintaining a strong focus on cash flow management and operational efficiency.