Parsons Corporation (NYSE:PSN) Q3 2022 Earnings Conference Call November 2, 2022 8:00 AM ET

Company Participants

Dave Spille - Vice President, Investor Relations

Carey Smith - Chair, President & Chief Executive Officer

Matt Ofilos - Chief Financial Officer

Conference Call Participants

Greg Konrad - Jefferies

Bert Subin - Stifel

Mariana Perez Mora - Bank of America

Tobey Sommer - Truist

Josh Sullivan - The Benchmark Company

Cai von Rumohr - Cowen

Louie DiPalma - William Blair

Gavin Parsons - Goldman Sachs

Operator

Good morning, and welcome to the Q3 2022 Parsons Corporation Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this is being recorded.

I now like to hand the conference over to Dave Spille, VP of Investor Relations. Please go ahead.

Dave Spille

Thank you. Good morning, and thank you for joining us today to discuss our third quarter 2022 financial results. Please note that, we provided presentation slides on the Investor Relations section of our website.

On the call with me today are Carey Smith, Chair, President and CEO; and Matt Ofilos, CFO. Today, Carey will discuss our corporate strategy and operational highlights, and then Matt will provide an overview of our third quarter financial results. We then will close with a question-and-answer session.

Management may also make forward-looking statements, during the call, regarding future events, anticipated future trends and the anticipated future performance of the company. We caution you that, such statements are not guarantees of future performance, and involve risks, and uncertainties that are difficult to predict.

Actual results may differ materially from those projected in the forward-looking statements, due to a variety of factors. These risk factors are described in our Form 10-K for fiscal year ended December 31, 2021, and other SEC filings. Please refer to our earnings press release for Parsons' complete forward-looking statement disclosure. We do not undertake any obligation to update forward-looking statements.

Management will also make reference to non-GAAP financial measures during this call. We remind you that, these non-GAAP financial measures are not a substitute for their comparable GAAP measures.

And now, I'll turn the call over to Carey.

Carey Smith

Thank you, Dave. Good morning, and welcome to Parsons' third quarter 2022 earnings call. We delivered strong third quarter financial results, with record revenue and record adjusted EBITDA. During the quarter, we achieved year-over-year double-digit organic revenue growth in both business segments and grew adjusted EBITDA by 22% and contract awards by 21%.