Parsons Corporation reported its financial results for the third quarter of 2025, revealing a decline in revenue and profitability compared to the same period last year. The company generated revenue of $1.62 billion for the three months ended September 30, 2025, a decrease of 10.4% from $1.81 billion in the prior year. For the nine-month period, revenue totaled $4.76 billion, down 5.1% from $5.02 billion. Net income attributable to Parsons Corporation was $64.1 million, or $0.60 per share, compared to $72.0 million, or $0.68 per share, in the same quarter of 2024. The decline in revenue was primarily driven by a significant drop in the Federal Solutions segment, which saw a decrease of $317 million, offset by an increase in the Critical Infrastructure segment.
The company’s financial performance was impacted by several strategic developments, including the acquisition of Chesapeake Technology International, Corp for $91.5 million, which was completed on June 30, 2025. This acquisition is expected to enhance Parsons' capabilities in providing technology solutions to the Department of Defense. Additionally, Parsons acquired TRS Group, Inc. for $36.6 million earlier in the year, further expanding its environmental solutions offerings. The revenue generated from these acquisitions was $19.2 million for CTI and $7.6 million for TRS in the third quarter.
Operationally, Parsons reported a total of $7.0 billion in remaining unsatisfied performance obligations (RUPO) as of September 30, 2025, indicating a stable backlog of work. The company’s total current assets increased to $2.65 billion, up from $2.46 billion at the end of 2024, driven by higher accounts receivable and contract assets. However, total liabilities also rose to $3.07 billion, primarily due to an increase in long-term debt, which reached $1.24 billion, up from $784 million at the end of the previous year. The company’s employee headcount remained stable, reflecting its ongoing commitment to maintaining a skilled workforce.
Looking ahead, Parsons Corporation anticipates continued challenges in the Federal Solutions segment due to delays in contract awards and reduced volumes from certain contracts. However, the company remains optimistic about growth in its Critical Infrastructure segment, supported by recent acquisitions and an increase in contract awards. The company’s management expressed confidence in its ability to navigate market conditions and leverage its strategic acquisitions to drive future growth. The outlook for the remainder of the fiscal year remains cautious, with a focus on improving operational efficiency and expanding its market presence.
About PARSONS CORP
Parsons is a global provider of integrated solutions and services in national security, cyber, space, missile defense, and critical infrastructure. It offers advanced engineering, program management, digital, and cybersecurity solutions to government and commercial clients. With a focus on innovation, technology, and long-term relationships, Parsons delivers mission-critical projects in defense, transportation, urban development, and environmental remediation worldwide.
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