Parsons Corporation · NYSE:PSN

Parsons — Q1 2024 Earnings Presentation

15 slides from Parsons's earnings presentation, May 1, 2024

  1. Slide 1: First Quarter 2024 Earnings Conference Call Presentation

    FIRST QUARTER 2024 Earnings Conference Call Presentation May 1, 2024

  2. 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;

  3. 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

  4. 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 

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. Slide 12: Appendix: Supplemental Materials

    APPENDIX: SUPPLEMENTAL MATERIALS Parsons Corporation Sensitive / Proprietary 12

  13. 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

  14. 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

  15. 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,

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