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    Parsons Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

    6/2/25 5:30:24 PM ET
    $PSN
    EDP Services
    Technology
    Get the next $PSN alert in real time by email
    8-K
    0000275880false00002758802025-06-022025-06-02

     

    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549

     

    FORM 8-K

     

    CURRENT REPORT

    Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

    Date of Report (Date of earliest event reported): June 02, 2025

     

     

    Parsons Corporation

    (Exact name of Registrant as Specified in Its Charter)

     

     

    Delaware

    001-07782

    95-3232481

    (State or Other Jurisdiction
    of Incorporation)

    (Commission File Number)

    (IRS Employer
    Identification No.)

     

     

     

     

     

    14291 Park Meadow Drive, Suite 100

     

    Chantilly, Virginia

     

    20151

    (Address of Principal Executive Offices)

     

    (Zip Code)

     

    Registrant’s Telephone Number, Including Area Code: (703) 988-8500

     

     

    (Former Name or Former Address, if Changed Since Last Report)

     

    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

    ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

    Securities registered pursuant to Section 12(b) of the Act:


    Title of each class

     

    Trading
    Symbol(s)

     


    Name of each exchange on which registered

    Common Stock, $1 par value

     

    PSN

     

    New York Stock Exchange

    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

    Emerging growth company ☐

    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

     


    Item 8.01 Other Events.

    Given the recent Department of State reorganization issued May 29, 2025, which created additional uncertainty surrounding Parsons’ confidential contract, the Company is removing the anticipated financial effects of contract from its 2025 guidance for any period after June 2025. After that date, the Company is unable to accurately estimate the size or scope of its potential work. Set forth below is the Company’s previous and updated guidance for 2025.

     

     

    Current FY25 Guidance

    Prior FY25 Guidance

    FY25 Y/Y Change
    at Mid-Point

    Total Revenue

    $6,450 - $6,650M

    $7,000 - $7,500M

    -3% (-5% organic)

    Total Revenue Excluding Confidential Contract

    $6,165 - $6,365M

    $6,250 - $6,450M

    +17% (14% organic)

    Adjusted EBITDA including non-controlling interest (1)

    $590 - $630M

    $640 - $710M

    +1%

    Adjusted EBITDA including non-controlling interest margin

    9.1% - 9.5%

    9.1% - 9.5%

    30 bps expansion

    Cash Flow from operating activities

    $380 - $420M

    $420 - $480M

    -24%

     

    1 Net income guidance and reconciliation is not presented as the company believes volatility associated with interest, taxes, depreciation, amortization and other matters affecting net income, including but not limited to one-time and nonrecurring events and impact of M&A, makes those items not reasonably available and thus the company is unable to provide accurate net income guidance or reconciliation for fiscal year 2025.

    Item 9.01 Financial Statements and Exhibits.

    (d) Exhibits:

     

    104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

     

     

     

     


    SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     

     

     

    PARSONS CORPORATION

     

     

     

     

    Date:

    June 2, 2025

    By:

    /s/ Michael R. Kolloway

     

     

     

    Michael R. Kolloway
    Chief Legal Officer

     


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