“Interest expense for the three months ended March 31, 2026 and March 31, 2025 is primarily due to debt related to our Convertible Senior Notes, Term Loan, and Revolving Credit Facility.”10-Q · Apr 29, 2026 ↗
Parsons Corporation
PSN
Market read
Parsons Corporation's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
- Revenue decreased 4.1% versus the comparable filing period.
- PSN's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if PSN's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
- Revenue decreased 4.1% versus the comparable filing period.
- Operating margin fell 0.6 percentage points.
- Net income decreased 20.1% versus the comparable filing period.
- PSN's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
No qualifying supportive evidence was identified.
- Latest annual revenue changed -5.7% year over year.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- Demand and volume has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 10, 2026
45.88Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The decrease in Federal Solutions backlog was primarily related to a reduction in work on our confidential contract as a result of the Department of State reorganization issued May 29, 2025, partially offset by an overall increase in awards.”10-Q · Apr 29, 2026 ↗
“These other items include net income (loss) attributable to noncontrolling interests, asset impairment charges, income and expense recognized on litigation matters, expenses incurred in connection with acquisitions and other non-recurring transaction costs an…”10-Q · Apr 29, 2026 ↗
“These other items include net income (loss) attributable to noncontrolling interests, asset impairment charges, income and expense recognized on litigation matters, expenses incurred in connection with acquisitions and other non-recurring transaction costs an…”10-Q · Apr 29, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for PSN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-29 against the comparable filing from 2025-04-30.
What improved
No thresholded improvement was identified.
What weakened
- Revenue decreased 4.1% versus the comparable filing period.
- Operating margin fell 0.6 percentage points.
- Net income decreased 20.1% versus the comparable filing period.
Filing receipts
“Interest expense for the three months ended March 31, 2026 and March 31, 2025 is primarily due to debt related to our Convertible Senior Notes, Term Loan, and Revolving Credit Facility.”
“Supplemental Pro Forma Information (Unaudited) Supplemental information of unaudited pro forma operating results assuming the ATC acquisition had been consummated as of the beginning of fiscal year 2025 (in thousands) is as follows: Three Months Ended March 31, 2026 March 31, 2025 Pro forma Revenue $ 1,497,153 $ 1,589,396 Pro forma Net Income including noncontrolling interests 71,799 71,228 The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired 8 intangible assets, the pro forma impact of interest expense on acquired deb...”
“Direct costs of contracts Three Months Ended Variance (U.S. dollars in thousands) March 31, 2026 March 31, 2025 Dollar Percent Direct costs of contracts $ 1,133,756 $ 1,200,377 $ (66,621 ) (5.6 )% Direct cost of contracts decreased $66.6 million for the three months ended March 31, 2026 when compared to the corresponding period last year, primarily due to a decrease of $76.5 million in our Federal Solutions segment offset by an increase of $9.9 million in our Critical Infrastructure segment.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind PSN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PWFiling-linked namesupplierFeb 11, 2026 ▾
“IPKeys Power Partners On April 13, 2023, the Company entered into a merger agreement to acquire a 100% ownership interest in IPKeys Power Partners (“IPKeys”), a privately-owned company, for $43.0 million.”
Depended on by
GSATGlobalstar, Inc.partnerMay 7, 2026 ▾
“Government Services We have an exclusive partnership with Parsons Corporation, a governmental services company, to utilize the Globalstar System to provide an innovative solution design to enhance resilience against disrupted communication pathways.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
PSN is currently a Follower in the organic co-movement group Industrial Cyclicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.