Parsons(US:PSN)2024-10-30 11:58Financial Performance Highlights - Record revenue of $1.8 billion, a 28% increase year-over-year[3, 5, 6] - Record organic revenue growth of 26%[3, 5, 6] - Record net income increased 52% to $72 million[3, 5] - Record adjusted EBITDA increased 31% to $167 million[3, 5, 6] - Record cash flow from operations increased by $95 million to $299 million[3, 5, 6] - Record trailing twelve-month operating cash flow of $587 million, a 91% increase over the prior twelve-month period[3, 6] - Adjusted EBITDA margin expands 20 basis points to 9.2%[5, 6] Contract Awards and Acquisitions - Contract awards increased 24% to $1.8 billion, a third quarter record[3, 5, 6] - Announced and closed BlackSignal Technologies acquisition for approximately $204 million[3, 11] - After Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Engineering, LLC for approximately $230 million[3, 11] Fiscal Year 2024 Guidance - Raised FY24 guidance ranges for revenue to $6.6 - $6.8 billion, adjusted EBITDA to $590 - $620 million, and cash flow from operations to $425 - $465 million[3, 12]