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Parsons (PSN) investor relations material

Parsons Barclays 43rd Annual Industrial Select Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Barclays 43rd Annual Industrial Select Conference summary18 Feb, 2026

Performance highlights and recent achievements

  • Exceeded high end of 2023 targets, with strong revenue growth across six end markets and 120 basis points EBITDA margin expansion; cash flow CAGR reached 26%.

  • Middle East delivered double-digit growth for three years, with 8.5% projected for the coming year; North America growth is more cyclical due to project completions.

  • Federal business expects 6.5% growth (excluding a confidential contract), with strong demand in missile defense and cyber/electronic warfare.

  • Margin expansion continues, with 10.4% in critical infrastructure and 20 basis points expected in federal; recent Altamira acquisition adds accretive margins.

  • Backlog at record levels: 73% funded, $8.7B in backlog, and $11B in awarded-not-booked, with strong visibility and quality.

Forward-looking growth and strategic positioning

  • 2026-2028 plan targets mid-single digit organic growth, anchored by strong Middle East performance and infrastructure opportunities.

  • Book-to-bill expected at 1.0 or better in both federal and critical infrastructure, with 21 consecutive quarters above 1.0 in CI.

  • FAA technical support contract to increase by 25% in 2026; new and renewed federal contracts include missile defense, cyber, and research lab awards.

  • Golden Dome missile defense project offers long-term integration and system engineering opportunities, with a key flight test in 2028.

  • Growth drivers include alignment with major federal and infrastructure funding bills, Middle East megaprojects, and expanding defense and security sectors.

Competitive advantages and portfolio strategy

  • Six decades of continuous Middle East presence, with a 50/50 joint venture in Saudi Arabia and delivery of major projects like Qiddiya and King Salman Airport.

  • Diversified portfolio with a 50/50 split between federal and critical infrastructure, leveraging synergies in aviation, PFAS, and critical infrastructure protection.

  • Altamira acquisition strengthens intelligence, missile warning, and space ground systems capabilities, enhancing cross-selling and federal market reach.

  • AI is deeply embedded in both federal and infrastructure offerings, driving operational transformation and value chain advancement.

  • Focus remains on markets with 4%-11% CAGR, high win rates, and technological differentiation, aiming to stay a top player in enduring, profitable sectors.

Drivers of '26-'28 organic growth rate
Middle East strategy amid shifting priorities?
Levers to exceed 10% adjusted EBITDA margin?
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Parsons Corporation provides engineering, construction and design services. The Company offers advanced technology solutions for the intelligence and defense community, as well as commercial clients. Parsons also provides program management, strategy, systems design and engineering, cyber security, intelligence operations support and infrastructure modernization solutions.

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