Slide 1: First Quarter 2024 Earnings Conference Call Presentation
FIRST QUARTER 2024 Earnings Conference Call Presentation May 1, 2024
Slide 2: Forward Looking Statements
FORWARD This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and terminations or cancellations caused by competitors’ protests of major contract awards received by us;
Slide 3: Major Messages: Record First Quarter Results
MAJOR MESSAGES Record First Quarter Results Momentum continues with record first quarter results for revenue, adjusted EBITDA, adjusted EBITDA margin, contract awards and total backlog Record revenue of $1.5B increases 31% year-over-year Record first quarter organic revenue growth of 29%, incl
Slide 4: Q1 2024 Key Highlights
Q1 2024 KEY HIGHLIGHTS Record start to the year Total revenue growth of 31% year-over-year; total organic growth of 29% Double-digit total revenue growth across all 4 business units and major geographies Q1 2024 REVENUE Four consecutive quarters with organic revenue growth >20% $1.5 Billion
Slide 5: Q1 2024 Financial Summary
Q1 2024 FINANCIAL SUMMARY Record quarterly revenue, adjusted EBITDA, adjusted EBITDA margin, contract awards, and total backlog Q1 2024 total revenue of $1.5B increased 31% year-over- Contract awards increased 51% to $2.1B year Total backlog increased 8% to $9.0B from Q1 2023 Organic revenue
Slide 6: Business Segment Summary
BUSINESS SEGMENT SUMMARY Federal Solutions Critical Infrastructure Q1 2024 revenue increased 43% and Q1 2024 revenue increased 16% and 15% 41% organically from Q1 2023 organically from Q1 2023 Adjusted EBITDA of $93M increased Adjusted EBITDA of $49M increased 65% from prior year period; adj
Slide 7: Significant Contract Wins
SIGNIFICANT CONTRACT WINS Selected by the Gateway Development Commission as the delivery partner on the $16 billion Hudson Tunnel Selected for Project and the company plans to book its portion of this contract in the second quarter of 2024. This milestone project is supported by the bipartisan Infra
Slide 8: Significant Contract Wins (continued)
SIGNIFICANT CONTRACT WINS (continued) Parsons was one of two companies awarded a position on an IDIQ contract by the National Nuclear Security Awarded Administration’s Office of Nuclear Smuggling Detection and Deterrence. This $1 billion ceiling value contract to deploy global counter-nuclear smuggl
Slide 9: Additional Corporate Highlights
Additional Corporate Highlights Named One of the World’s Most Ethical Companies for 15 Consecutive Years Named by Ethisphere as one of the 2024 World's Most Ethical Companies. The company has been honored with this recognition for 15 consecutive years. Delivering Project Excellence Parsons was recog
Slide 10: Fiscal Year 2024 Guidance: Increasing All Guidance Ranges
FISCAL YEAR 2024 GUIDANCE: INCREASING ALL GUIDANCE RANGES Current FY24 Prior FY24 FY24 Y/Y Growth at Guidance Guidance Mid-Point Total Revenue $6.1 - $6.4B $5.8 - $6.0B +15% (+14% organic) Adjusted EBITDA $535 - $575M $505 - $545M +19% Cash Flow from Operations $380 - $440M $350 - $410M 1%* *2024 fr
Slide 11: Fiscal Year 2024 Guidance Assumptions
FISCAL YEAR 2024 GUIDANCE ASSUMPTIONS ~ 57% of total revenue to be generated from Federal D&A expenses of ~ $92M, which includes ~ $50M of Solutions segment at the mid-point acquisition-related amortization Adjusted EBITDA margin of ~ 8.9% at the mid-point of FY24 guidance includes ~$12M of
Slide 12: Appendix: Supplemental Materials
APPENDIX: SUPPLEMENTAL MATERIALS Parsons Corporation Sensitive / Proprietary 12
Slide 13: Adjusted EBITDA Reconciliation
ADJUSTED EBITDA RECONCILIATION PARSONS CORPORATION Non-GAAP Financial Information Reconciliation of Net (Loss) Income to Adjusted EBITDA (in thousands) Three Months Ended March 31, 2024 March 31, 2023 Net (loss) income attributable to Parsons Corporation $(107,355) $25,553 Interest expense, net 11,8
Slide 14: Adjusted EBITDA Attributable to NCI
ADJUSTED EBITDA ATTRIBUTABLE TO NCI PARSONS CORPORATION Non-GAAP Financial Information Computation of Adjusted EBITDA Attributable to Noncontrolling Interests (in thousands) Three Months Ended March 31, 2024 March 31, 2023 Federal Solutions Adjusted EBITDA attributable to Parsons Corporation $92,541
Slide 15: Adjusted Net Income Attributable to Parsons
ADJUSTED NET INCOME ATTRIBUTABLE TO PARSONS PARSONS CORPORATION Non-GAAP Financial Information Reconciliation of Net (Loss) Income Attributable to Parsons Corporation to Adjusted Net Income Attributable to Parsons Corporation (in thousands, except per share information) Three Months Ended March 31,