Q3 2026 Key Takeaways

• Revenue, profitability, and cash flow exceeded commitments, with adjusted EBITDA and margin reaching record levels
• Continued strong demand across both segments, with contract awards increasing 14% year-over-year and a 1.1x consolidated book-to-bill ratio, including a 53% increase in Federal Solutions contract awards
• Record total and funded backlog
• Third-quarter financial results, combined with growing backlog, strong bookings, and a robust pipeline, underscore the resilience of the company’s portfolio and provide a solid foundation for sustained organic growth across both segments

Q3 2026 Highlights

• Achieved a 1.1x book-to-bill ratio, maintaining a TTM ratio of at least 1.0x in every quarter since 2019 IPO; both segments delivered a third-quarter ratio of 1.0x or greater
• Q3 revenue of $1.7 billion increased 2% year-over-year and decreased 1% on an organic basis, exceeding commitments
• Revenue growth of 5% excluding confidential contract; 2% on an organic basis
• Net income of $54 million decreased $10 million. Net income was impacted by transaction-related expenses
• Adjusted EBITDA increased 6% to a record $168 million; margin expanded 40 basis points to a record 10.2%
• Total and funded backlog increased 6% and 7%, respectively, both reaching record levels of $9.4 billion and $6.8 billion
• Signed a definitive purchase agreement and finalizing novation for the divestiture of the remote-location contracts; made measurable progress on the Critical Infrastructure joint venture program
• Narrowing and reiterating mid-point of fiscal year 2026 revenue and adjusted EBITDA guidance ranges; reiterating operating cash flow guidance range

CHANTILLY, Va., Oct. 28, 2026 (GLOBE NEWSWIRE) — Parsons Corporation (NYSE: PSN) today announced financial results for the third quarter ended September 30, 2026.

CEO Commentary

“We delivered a strong third quarter, exceeding our commitments with record adjusted EBITDA and adjusted EBITDA margin, and robust operating cash flow and bookings across both Federal Solutions and Critical Infrastructure. This performance highlights the resilience of our diversified portfolio and the strength of our differentiated solutions and products. Strong awards, record total and funded backlog, and a robust pipeline provide a solid foundation for continued organic growth,” said Carey Smith, chair, president, and chief executive officer.

“We also continued to strengthen our portfolio, making meaningful progress on the strategic initiatives we outlined last quarter. While we continue to navigate procurement timing and geopolitical uncertainty, the alignment of our differentiated capabilities with our customers’ most critical national security and infrastructure needs reinforces our confidence in Parsons’ outlook. We remain focused on disciplined execution, converting our strong pipeline and recent awards into profitable growth, and delivering long-term value for our customers, employees, and shareholders.”

Third Quarter 2026 Results

Year-over-Year Comparisons (Q3 2026 vs. Q3 2025)

Total revenue for the third quarter of 2026 increased by $29 million, or 2%, to $1.7 billion and was down 1% on an organic basis. Excluding the company's confidential contract, total revenue increased 5% and organic revenue increased 2%, driven by growth in our Cyber and Electronic Warfare and Transportation markets. Operating income decreased 4% to $104 million primarily due to higher transaction-related expenses. Net income decreased 16% to $54 million because of these same factors. GAAP diluted earnings per share (EPS) attributable to Parsons was $0.51 in the third quarter of 2026, compared to $0.59 in the prior year period.

Adjusted EBITDA including noncontrolling interests for the third quarter of 2026 was $168 million, a 6% increase over the prior year period. Adjusted EBITDA margin expanded 40 basis points to 10.2%, a company record, compared to 9.8% in the third quarter of 2025. These increases were driven by accretive growth across both our Critical Infrastructure and Federal Solutions segments. Adjusted diluted EPS was $0.89 in the third quarter of 2026, compared to $0.86 in the third quarter of 2025. The year-over-year adjusted diluted EPS increase was driven by the items that impacted adjusted EBITDA above.

Segment Results

Critical Infrastructure Segment

Critical Infrastructure Year-over-Year Comparisons (Q3 2026 vs. Q3 2025)

Third quarter 2026 Critical Infrastructure revenue increased $13 million, or 2%, from the third quarter of 2025, reaching an all-time high. This increase was driven by organic growth of 1% and inorganic revenue contributions from the company's Applied Sciences acquisition. Organic growth was primarily driven by our Transportation market.

Third quarter 2026 adjusted EBITDA including noncontrolling interests increased by $8 million, or 9%, compared to the prior year period. Adjusted EBITDA margin expanded 80 basis points to a record 11.1% from 10.3% in the prior year period. These increases were driven by ramp up of recent awards, contributions from accretive acquisitions, and stronger program execution.

Federal Solutions Segment

Federal Solutions Year-over-Year Comparisons (Q3 2026 vs. Q3 2025)

Third quarter 2026 revenue increased $16 million, or 2%, compared to the prior year period and decreased 3% on an organic basis. Excluding the company's confidential contract, Federal Solutions' revenue increased 9% and 3% on an organic basis. These increases were driven by growth in our Cyber and Electronic Warfare and Transportation markets, and contributions from our Altamira acquisition.

Third quarter 2026 Federal Solutions adjusted EBITDA including noncontrolling interests increased by $2 million, or 2%, compared to the prior year period. Adjusted EBITDA margin remained unchanged at 9.2% compared to the prior year period. These increases were primarily driven by contributions from acquisitions and growth on accretive contracts.

Third Quarter 2026 Key Performance Indicators

• Book-to-bill ratio: 1.1x on net bookings of $1.8 billion.
• Book-to-bill ratio (trailing twelve months): 1.1x on net bookings of $7.3 billion.
• Record total backlog of $9.4 billion, up $530 million, or 6%, from Q3 2025. Record funded backlog of $6.8 billion represented 73% of total backlog and increased 7% year-over-year.
• Cash flow from operating activities: Q3 2026 of $269 million compared to $163 million in third quarter of 2025. On a trailing-12-month basis, the company generated $490 million in operating cash flow, an increase of 12% over the prior 12-month period.

Significant Contract Wins

Parsons continues to win new business across both segments. During the third quarter of 2026, the company received three contract actions valued at more than $100 million each and continued to expand its use of Other Transaction Agreements (OTAs).

• Received an increase in the ceiling value of the five-year, sole-source OTA with U.S. Cyber Command to $750 million. Under this agreement, the company has begun full-rate production of the Joint Cyber Hunt Kit, or JCHK. In total, the company has booked $250 million on this agreement.
• Awarded a 66-month, $495 million ceiling value contract for a national security customer to acquire and deploy advanced communications, power, and software capabilities. The company booked $37 million on this contract during the third quarter.
• Booked $234 million of the $514 million Missile Defense Agency’s (MDA) Technical, Engineering, Advisory, and Management Support (TEAMS) – NEXT Systems Engineering contract two-year option period. For the first nine months of 2026, the company has booked $429 million on this contract extension.
• Awarded a five-year, $97 million Other Transaction Agreement by a government customer to deliver technology to simulate radio frequency and cyber conditions. The company booked $4 million on this agreement during the third quarter.
• Awarded a five-year, $95 million Other Transaction Agreement by a government customer to modernize software supporting early-warning capabilities. The company booked $19 million on this agreement during the third quarter.
• Awarded an OTA by the Department of War for solutions related to the Pacific Command theater of operations. This three-year OTA has a ceiling value of $95 million and expands the company’s footprint in PACOM, enabling continued deployment of exquisite solutions that advance mission success and protect national security. The company booked $30 million on this agreement during the third quarter.
• Awarded a 75-month, $86 million OTA by Army Contracting Command – Rock Island, in coordination with Air Force Civil Engineering Center. Under this agreement, which represents new work for the company, Parsons will serve as the Owner’s Advisor for the development of U.S. Space Command's new headquarters at Redstone Arsenal in Huntsville, Alabama, providing comprehensive program and construction management support during planning, design, construction, and operationalization. This OTA will oversee one of the Department of War’s largest progressive design-build initiatives to date and is one of the Air Force’s first uses of an Owner’s Advisor delivery approach. The company booked the full amount on this agreement during the third quarter.
• Awarded a $70 million single-award task order under the Air Base, Air Defense IDIQ contract. Under this task order, Parsons will support the integration, testing, deployment, sustainment, maintenance, and operational transition of point-defense systems designed to defend personnel, aircraft, installations, and other critical assets from emerging aerial threats through Europe and Africa. This contract has a four-year period of performance with three 12-month option periods. The company booked $46 million on this contract during the third quarter.

CFO Transition

Matt Ofilos, Parsons’ Chief Financial Officer, has notified the Company of his decision to resign from his position, effective November 6, 2026, to pursue another professional opportunity. Mr. Ofilos’ resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.

George Ball, who served as Parsons’ Chief Financial Officer from 2008 to 2022 and has served on the Company’s Board of Directors since 2022, has been appointed interim Chief Financial Officer, effective November 6, 2026.

Additional Corporate Highlights

Parsons continues to be recognized as a leading global infrastructure company, receiving multiple awards for project excellence. Parsons was also designated a Best Veteran Employer.

• Received an Award of Merit under the Highway/Bridge category for the Brooklyn Bridge Rehabilitation project by Engineering News-Record (ENR) New York. This project was also honored with the Centennial Project of the Year by the New York State Society of Professional Engineers.
• Recognized by ENR Midwest with an Award of Merit under the Highway/Bridge category for the I-70 Rocheport Bridge Replacement Design-Build and Best Project designation for The Gordie Howe International Bridge Project, which was also named a Finalist in the Midwest Best Projects of the Year by ENR.
• Honored with the Best Project designation under the Airport/Transit category, Award of Merit for Excellence in Sustainability, and Excellence in Safety for the Federal Way Link Extension project by ENR Northwest.
• Awarded Digital Transformation of the Year under the Consultant category at the Construction Technology Awards 2026.
• Recognized as a Best Veteran Employer by Vetted Employer for 2026-2027. This official designation was earned by meeting the benchmark requirements of the Vetted Checkup Survey, which evaluates an organization’s veteran hiring practices, retention, and military-connected support programs.

Fiscal Year 2026 Guidance

The company is narrowing and reiterating the mid-point of its fiscal year 2026 revenue and adjusted EBITDA guidance ranges and reiterating its operating cash flow guidance range.

We have not provided a reconciliation of our Adjusted EBITDA guidance because the information needed to reconcile this measure is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, which may be significant. Additionally, estimating such GAAP measures and providing a meaningful reconciliation for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort.

Conference Call Information

Parsons will host a conference call today, October 28, 2026, at 8:00 a.m. ET to discuss the financial results for its third quarter 2026.

Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here.

A replay will be available on the company's website approximately two hours after the conference call and continuing for one year.

About Parsons Corporation

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements
This Earnings Release contains forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. Words or phrases such as “may”, “will”, “should”, “expects”, “plans”, “anticipates”, “could”, “intends”, “target”, “projects”, “contemplates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these words or other similar terms or expressions are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, without limitation, the factors listed under “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2025, and subsequent filings with the U.S. Securities and Exchange Commission, as well as the following: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; volatility of government budgets and funding; our dependence on the award, maintenance and renewal of long-term government contracts, which are subject to the government’s budgetary approval process; our ability to successfully and timely perform our contractual obligations; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive  bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; underperformance, misconduct or other improper activities of our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts, including the impact of contract divestments, program exits and program changes, and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue and expenses; internal system or service failures and cyber or other security breaches; and inherent uncertainties and potential adverse developments in legal proceedings including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements, failure to successfully collect on judgments or claims to the extent we expected and recorded as revenue, or other unfavorable outcomes. 

Forward-looking statements are primarily based on our current estimates, assumptions, expectations and projections. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control and difficult to predict. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. These statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. We undertake no obligation to update any forward-looking statements due to subsequent events, new information or otherwise, except as required in connection with our ongoing requirements under federal securities laws.

PARSONS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)

Weighted average number shares used to compute basic and diluted EPS
(In thousands) (Unaudited)  

Net income available to shareholders used to compute diluted EPS as a result of adopting the if-converted method in connection with the Convertible Senior Notes
(In thousands) (Unaudited)

PARSONS CORPORATION
CONSOLIDATED BALANCE SHEETS
(In thousands, except share information)

PARSONS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

Contract Awards 
(in thousands)

Backlog
(in thousands)

Book-To-Bill Ratio¹:

Non-GAAP Financial Information
The tables under "Parsons Corporation Inc. Reconciliation of Non-GAAP Measures" present Adjusted Net Income attributable to Parsons Corporation, Adjusted Earnings per Share, Earnings before Interest, Taxes, Depreciation, and Amortization (“EBITDA”), Adjusted EBITDA, EBITDA Margin, and Adjusted EBITDA Margin, reconciled to their most directly comparable GAAP measure. These financial measures are calculated and presented on the basis of methodologies other than in accordance with U.S. generally accepted accounting principles ("Non-GAAP Measures"). Parsons has provided these Non-GAAP Measures to adjust for, among other things, the impact of amortization expenses related to our acquisitions, costs associated with a loss or gain on the disposal or sale of property, plant and equipment, restructuring and related expenses, costs associated with mergers and acquisitions, software implementation costs, legal and settlement costs, and other costs considered non-operational in nature. These items have been Adjusted because they are not considered core to the company’s business or otherwise not considered operational or because these charges are non-cash or non-recurring. The company presents these Non-GAAP Measures because management believes that they are meaningful to understanding Parsons’s performance during the periods presented and the company’s ongoing business. Non-GAAP Measures are not prepared in accordance with GAAP and therefore are not necessarily comparable to similarly titled metrics or the financial results of other companies. These Non-GAAP Measures should be considered a supplement to, not a substitute for, or superior to, the corresponding financial measures calculated in accordance with GAAP.

PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Net Income to Adjusted EBITDA
(in thousands)

PARSONS CORPORATION
Non-GAAP Financial Information
Computation of Adjusted EBITDA Attributable to Noncontrolling Interests
(in thousands)

PARSONS CORPORATION
Non-GAAP Financial Information
Reconciliation of Net Income Attributable to Parsons Corporation to Adjusted Net Income Attributable to Parsons Corporation
(in thousands, except per share information)

Featured Image: DepositPhotos @ Gornist

Disclaimer

FREMONT, Calif., Oct. 28, 2026 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, today announced the shipment of its first 310 × 310 mm Ultra ECP ap-p panel-level horizontal electroplating production system to a customer in Asia outside mainland China. The shipment marks another significant advance in ACM's core panel-level technologies and represents an important step forward in broadening its multi-product platform and expanding its global customer presence.

As advanced packaging technologies continue to evolve, panel-level processing is gaining traction across the industry for its ability to accommodate larger substrates. Electroplating is one of the most critical steps in advanced packaging manufacturing, where equipment stability, plating thickness uniformity and consistency are essential to successful process integration, product yield and manufacturing efficiency. The newly shipped tool is designed for 310 × 310 mm panel-level applications, and demonstrates ACM's ability to quickly advance product development per customer requirements. This follows last year’s shipment of ACM’s first 515 × 510 mm R&D tool, highlighting ACM's ability to rapidly commercialize technical breakthroughs into scale production.

“This is an important milestone for ACM’s advanced packaging efforts, and marks shipment of what we believe is the world's first 310 × 310 mm panel-level horizontal electroplating production tool to a customer in Asia,” said Dr. David Wang, President and Chief Executive Officer of ACM Research. “We believe our proprietary horizontal plating technology is uniquely positioned to enable the next generation of advanced semiconductor packaging across multiple panel sizes and emerging packaging architectures. As AI drives increasingly complex packaging requirements, we see a significant long-term opportunity for ACM to play an enabling role in this rapidly evolving market.”

The Ultra ECP ap-p system features ACM's proprietary horizontal electroplating technology and supports copper (Cu), nickel (Ni), tin-silver (SnAg) and gold (Au) plating processes. Its copper plating chamber incorporates a high-speed plating paddle specifically designed for tall copper pillar applications, capable of achieving good within-die uniformity for 300-micron copper pillars at high plating rates. The system also features a four-sided sealing dry contact chuck for improved reliability, in-cell rinse functionality to minimize chemical cross-contamination between different plating cells, and a horizontal electroplating design that uses ACM's patent-pending technology to synchronize the rotation of the chuck with a rotating rectangular electric field for superior deposition uniformity.

Beyond equipment delivery, ACM is committed to building long-term customer relationships by providing high-quality equipment, supporting reliable volume production and delivering reliable technical support. ACM will continue to advance its technologies, expand its multi-product platform and grow its global customer base. Through collaboration with partners worldwide, ACM aims to support the growth of the AI industry and create greater value for customers with its differentiated semiconductor equipment technologies.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

© ACM Research, Inc. Ultra ECP ap-p and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without the symbol, but that practice does not mean ACM will not assert, to the fullest extent under applicable law, its rights to such trademarks. All other trademarks are the property of their respective owners.

Featured Image: DepositPhotos @ Wavebreakmedia

Disclaimer

FREMONT, Calif., Oct. 28, 2026 (GLOBE NEWSWIRE) — ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications, today announces expectations for preliminary unaudited revenue and total shipments for the third quarter of 2026. Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (“ACM Shanghai”), to the Shanghai Stock Exchange website [link to China Disclosure].

ACM will discuss its full financial results for the third quarter 2026 and its revenue outlook for the remainder of the year on its earnings call on Thursday, November 5, 2026, at 8 a.m. Eastern Time (9 p.m. China Time).

ACM announces the following:

• preliminary unaudited revenue for the third quarter of 2026 is expected to be in the range of $360 million to $365 million, which would represent year-to-year growth of 34% to 36%.
• preliminary total shipments are expected to be in the range of $335 million to $340 million, which would represent year-to-year growth of 27% to 29%.

Actual unaudited third quarter 2026 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm.

As of June 30, 2026, ACM owned a 73.2% equity interest in ACM Shanghai, and a substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles, and those results will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.

© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.

For investor and media inquiries, please contact:

Featured Image: DepositPhotos @ Sdecoret

Disclaimer

CHANTILLY, Va., Oct. 28, 2026 (GLOBE NEWSWIRE) — Parsons Corporation (NYSE: PSN) today announced that Matt Ofilos will resign as Executive Vice President and Chief Financial Officer, effective November 6, 2026, to pursue another professional opportunity. Ofilos’ resignation is not the result of any disagreement with the company on any matter relating to the company’s operations, policies, or practices.

The company’s Board of Directors has appointed George Ball, Parsons’ former Chief Financial Officer and a current member of the Board of Directors, to serve as Interim Chief Financial Officer, effective November 6, 2026. This appointment provides continuity in the company’s financial leadership while the Board of Directors conducts a thorough search for a permanent successor.

“I want to thank Matt for his leadership, partnership, and financial stewardship over the past five years,” said Carey Smith, Chair, President, and Chief Executive Officer of Parsons Corporation. “During his tenure, Parsons grew revenue and profitability and advanced its growth strategy. We wish Matt continued success in his next chapter. We are pleased to welcome George back as Interim Chief Financial Officer. George’s deep understanding of Parsons, our customers, employees, and strategic priorities will support an orderly transition as we remain focused on disciplined execution and delivering on our corporate strategy.”

Ball served as Parsons’ Chief Financial Officer from 2008 to 2022 and joined the company’s Board following his retirement as Chief Financial Officer. During his tenure as Chief Financial Officer, he played an integral role in guiding the transformation of the company and helped lead Parsons’ initial public offering in 2019. He joined Parsons in 1995 and held multiple financial and operational leadership positions with global responsibilities before becoming Chief Financial Officer. He has also served on the boards of multiple public and nonprofit organizations.   

In its third-quarter 2026 earnings release issued earlier today, the company reported strong third-quarter results, reaffirmed the midpoint and narrowed its fiscal year 2026 revenue and adjusted EBITDA guidance ranges, and reiterated its operating cash flow guidance range.

For additional information, please refer to the company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission under Item 5.02.

About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn to learn how we’re making an impact.

Media Contact:                                        
Bernadette Miller
+1 980.253.9781
bernadette.miller@parsons.com

Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us

Featured Image: Unsplash @ nmgnetwork

Disclaimer

TORONTO, Oct. 28, 2026 (GLOBE NEWSWIRE) — New analysis from TransUnion (NYSE: TRU) shows nearly half (49%) of Canadians surveyed reported being targeted by a fraud scheme through email, online, phone call or text messaging during a recent three-month period, including 6% who said they became victims. The analysis also found fraudsters are increasingly exploiting familiar communications, including email, phone calls and text messages, to exploit trust and target people through existing customer relationships.

According to TransUnion’s H2 2026 Update to the Top Fraud Trends Report, phishing was the most commonly reported tactic among Canadians who said they were targeted, at 47%, followed by fraudulent phone calls, or vishing, at 44%, and fraudulent text messages, or smishing, at 40%.

The findings show how often fraud is reaching Canadians through the communications they use every day, and AI and automation are making it easier for fraudsters to create convincing identities, documents and communications at greater scale, adding another layer of complexity to how Canadians recognize and respond to fraud.

“Fraudsters are getting better at making scams look and feel legitimate, whether that is a familiar text message, phone call, email or interaction with an account a consumer already uses,” said Andrew Sigfrid, Senior Director of Fraud Solutions at TransUnion. “That makes it increasingly important for Canadians to stay alert even when an interaction looks familiar, and for businesses to continue strengthening how they protect their customers.”

Existing accounts becoming a key target

Consumers’ existing online accounts are becoming a growing target for fraudsters. The rate of suspected digital fraud in financial transaction attempts with TransUnion’s Canadian clients increased 226% from H1 2022 to H1 2026, with criminals using stolen login information, phishing and social engineering to target existing accounts.

Account login accounted for 42.4% of all suspected digital fraud in Canada in H1 2026, making it the largest source of suspected fraud by volume across the customer lifecycle stages measured. The percentage of account logins attempts in Canada that were suspected digital fraud also increased by 108% from H1 2022 to H1 2026.

Account login is the highest-volume digital touchpoint risk

Source: TransUnion global intelligence network

Although existing accounts are a primary target, the risks at account opening have not gone away. Synthetic identity fraud, where criminals combine real and fabricated information to create a false identity, accounted for more than 14% of onboarding credit losses in Canada, among accounts opened in Q4 2023 and measured through Q2 2025.

Together the findings illustrate how fraud risk can follow a customer throughout their relationship with a business. Fraudsters may target consumers when they open an account, return to it, update their information or make a transaction. That means businesses increasingly need to look for potential signs of fraud throughout the customer lifecycle.

Scams are driving fraud losses for Canadian businesses

The impact of scams is also being felt by Canadian businesses. Scam and authorized fraud, defined in the survey as a dishonest scheme intended to trick a person into giving up something of value, like account access, money or information, was the most frequently cited source of fraud losses among Canadian business leaders. More than one-third (34%) said it caused the most losses for their organizations in the past year.

The problem is also becoming more common. Among Canadian business leaders surveyed, 42% said scam or authorized fraud have increased over the past year, more than any other fraud type measured.

At the same time, nearly half (47%) of Canadian business leaders said they are extremely or very concerned that fraud risks are evolving faster than their organization’s ability to detect and prevent them.

Scam/authorized fraud is the most frequently cited source of reported fraud loss

Source: TransUnion business survey

“Protecting customers cannot stop once an account has been opened,” Sigfrid said. “Businesses need to keep looking for signs that something has changed when customers log in, manage their accounts or make transactions, while keeping those experiences streamlined for legitimate customers.”

Fraud concerns remain high heading into the holiday season

With the holiday season approaching, fraud is weighing on Canadians, with 59% of Canadians saying they are at least moderately concerned about being victimized by digital fraud this holiday season.

“During the holiday shopping season, consumers expect to see more communications about deals, delivery updates, emails, texts and general activity across their accounts, and fraudsters can use that increased activity to their advantage,” Sigfrid said. “Canadians should be especially mindful this holiday season by taking a moment to verify requests and protect their personal and login information to help reduce their risk of becoming a victim of fraud.”

To learn more about how TransUnion fraud prevention solutions can help businesses guard against fraud and reduce fraud losses, click here.

Methodology

TransUnion’s H2 2026 Update to the Top Fraud Trends Report blends proprietary intelligence from TransUnion’s global network with specially commissioned business and consumer surveys. The Canada business survey included 200 respondents and was conducted June 5–10, 2026, in partnership with Dynata. The Canada consumer survey included 1,000 adults and was conducted July 17–27, 2026, in partnership with Dynata.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

For more information visit: www.transunion.ca

For more information or to request an interview, contact:
Contact: Genevieve Grant
E-mail: genevieve.grant@transunion.com

Featured Image: Megapixl @ Jotabe

Disclaimer

Third Quarter 2026 Financial Results and Highlights

• Record quarterly revenue of $84.4 million, an increase of 12% year–over–year
• Cloud ARR of $107 million, an increase of 21% year-over-year
• Non-GAAP diluted EPS from continuing operations of $0.32; GAAP diluted EPS from continuing operations of $0.11
• Cash flow provided by continuing operations activities of $15.5 million dollars

TEL AVIV, Israel, Oct. 28, 2026 (GLOBE NEWSWIRE) — Radware^® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced its consolidated financial results for the third quarter ended September 30, 2026.

“We delivered another record quarter, highlighted by accelerating revenue growth and continued expansion of our cloud security business,” said Roy Zisapel, President and Chief Executive Officer of Radware. “Customer demand for our application security solutions is robust, as reflected in our cloud bookings and large deal activity. As we continue to expand our cloud security platform with new AI security capabilities, customers are increasingly adopting Radware to protect applications, APIs, infrastructure, and AI environments through a unified platform.”

Financial Highlights for the Third Quarter 2026
Revenue for the third quarter of 2026 totaled $84.4 million:

• Revenue in the Americas region was $39.6 million, an increase of 12% from $35.4 million in the third quarter of 2025.
• Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $25.6 million, an increase of 12% from $22.8 million in the third quarter of 2025.
• Revenue in the Asia-Pacific (“APAC”) region was $19.2 million, an increase of 12% from $17.1 million in the third quarter of 2025.

GAAP net income from continuing operations for the third quarter of 2026 was $4.5 million, or $0.11 per diluted share, compared to GAAP net income from continuing operations of $8.2 million, or $0.19 per diluted share, for the third quarter of 2025.

Non-GAAP net income from continuing operations for the third quarter of 2026 was $13.9 million, or $0.32 per diluted share, compared to non-GAAP net income from continuing operations of $14.8 million, or $0.33 per diluted share, for the third quarter of 2025.

The appreciation of the Israeli shekel against the U.S. dollar had an adverse impact on expenses during the third quarter. Excluding the $4.6 million unfavorable impact of exchange rate movements in the third quarter of 2026, non-GAAP net income from continuing operations and non-GAAP diluted EPS from continuing operations would have been $17.8 million and $0.41, respectively. This compares with the reported $14.8 million and $0.33 per diluted share in the third quarter of 2025, representing year-over-year growth of 20% in non-GAAP net income from continuing operations and 24% in non-GAAP diluted EPS from continuing operations.

As of September 30, 2026, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $421.5 million. Operating cash flow provided by continuing operations was $15.5 million in the third quarter of 2026.

Conference Call
Radware management will host a call today, October 28, 2026, at 8:30 a.m. ET to discuss its third quarter 2026 results and fourth quarter 2026 outlook. To participate in the call, please use the following link: Q3 2026 earnings call registration link.

A replay of the call will be available within approximately 24 hours of the live event on the Investors section of Radware’s website at: https://www.radware.com/ir/financial-reports/.

Use of Non-GAAP Financial Information and Key Performance Indicators

Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release.

In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax–related adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors.

Annual recurring revenue ("ARR") is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Any forward-looking statements made herein that are not statements of historical fact, including statements about Radware’s plans, objectives, expectations, beliefs, projections, future financial performance, business strategies, market opportunities, and developments in our industry, are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “forecast,” “target,” and similar expressions, as well as future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.”

Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global market and economic conditions; our dependence on independent distributors; disruptions in our supply chain, including shortages of components or manufacturing capacity; our reliance on a limited number of vendors; our ability to attract, train and retain qualified personnel; intense competition in the cybersecurity and application delivery markets; our ability to develop new solutions and enhance existing solutions; risks related to defects, vulnerabilities or failures in our products or services, including cybersecurity incidents affecting our systems or those of our customers; risks associated with the use of artificial intelligence technologies, including evolving regulatory frameworks, litigation exposure and reputational considerations; risks related to our information technology systems, including failures, disruptions or security breaches; outages, interruptions, or delays in hosting or cloud-based services; risks related to the interoperability of our products; risks associated with our global operations; and geopolitical risks, including instability in the Middle East and Israel.

These factors are not exhaustive. For a more detailed description of the risks and uncertainties affecting Radware, please refer to Radware’s Annual Report on Form 20-F and other reports filed with or furnished to the Securities and Exchange Commission (SEC) from time to time.

Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, Radware undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of such statements. Radware’s public filings are available from the SEC’s website at www.sec.gov or on Radware’s website at www.radware.com.

About Radware
Radware^® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, API, and AI security solutions use AI-driven algorithms for precise, behavior-based, real-time protection against sophisticated web, application, and DDoS attacks, API abuse, business logic threats, and malicious bots. Radware delivers end-to-end API security, including discovery, posture management, testing, and runtime protection, along with advanced protection for AI agents and models. Enterprises and carriers worldwide rely on Radware to address evolving cyberthreats, protect their brands and business operations, and reduce costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on Facebook, LinkedIn, Radware Blog, X, and YouTube.

©2026 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

CONTACTS
Investor Relations:
Yisca Erez, +972-72-3917211, ir@radware.com

Media Contact:
Gina Sorice, ginaso@radware.com

Featured Image: DepositPhotos @ Maxkabakov

Disclaimer

PARIS, Oct. 28, 2026 (GLOBE NEWSWIRE) — Constellium SE (NYSE: CSTM) ("Constellium" or the "Company") today reported results for the third quarter and the nine months ended September 30, 2026.

Third quarter 2026 highlights:

• Shipments of 368 thousand metric tons, down 1% compared to Q3 2025
• Revenue of $2.6 billion, up 22% compared to Q3 2025
• Net income of $119 million compared to net income of $88 million in Q3 2025
• Adjusted EBITDA of $276 million
     > Includes negative non-cash metal price lag impact of $4 million
• Segment Adjusted EBITDA of $102 million at A&T, $162 million at P&ARP and $21 million at AS&I, partially offset by corporate costs of $(5) million, together representing a new third quarter record for the Company
• Cash from Operations of $186 million and Free Cash Flow of $128 million
• Returned $30 million to shareholders through the share repurchase program

Nine months ended September 30, 2026 highlights:

• Shipments of 1.1 million metric tons, down 1% compared to YTD 2025
• Revenue of $7.8 billion, up 26% compared to YTD 2025
• Net income of $463 million compared to net income of $162 million in YTD 2025
• Adjusted EBITDA of $1.1 billion
     > Includes positive non-cash metal price lag impact of $222 million
• Segment Adjusted EBITDA of $340 million at A&T, $478 million at P&ARP and $71 million at AS&I, partially offset by corporate costs of $(37) million, together representing a record first nine months for the Company
• Cash from Operations of $420 million and Free Cash Flow of $223 million
• Returned $78 million to shareholders through the share repurchase program
• Leverage of 1.6x at September 30, 2026

“Constellium delivered another strong quarter, including record third quarter Adjusted EBITDA, despite the ongoing uncertainties on the macroeconomic and geopolitical fronts,” said Ingrid Joerg, Constellium’s Chief Executive Officer. “We achieved strong financial performance across all of our operating segments again this quarter, including record third quarter Segment Adjusted EBITDA at both our A&T and P&ARP segments. During the quarter, we benefited from strong operational focus, cost control and improved market dynamics, including an improved aerospace and transportation, industry and defense (TID) environment, supply shortages of automotive rolled products in North America, and strong recycling performance in both North America and Europe. We generated Free Cash Flow of $128 million in the third quarter, and during the quarter we returned $30 million to shareholders through the repurchase of 1.0 million ordinary shares. As a reminder, in July we completed a $100 million partial redemption of the 5.625% Senior Notes due June 2028. We ended the quarter with leverage at 1.6x, near the low end of our target leverage range of 1.5x to 2.5x.”

Ms. Joerg continued, "Even though the current landscape remains volatile, we have a strong track record of navigating and executing in any environment. Based on our current outlook, we are raising our guidance for 2026 and now expect Adjusted EBITDA in the range of $1.03 billion to $1.06 billion, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of $300 million. Looking ahead, we like our end market position and we are optimistic about our prospects, which include harvesting the benefits from our previously announced return-seeking investments and capturing future market opportunities. Our focus remains on executing our strategy, driving operational performance, controlling cost, maintaining commercial and capital discipline, generating Free Cash Flow and increasing shareholder value.”

Group Summary

For the third quarter of 2026, the Company had shipments of 368 thousand metric tons, a decrease of 1% compared to the third quarter of 2025 due to lower shipments in the P&ARP and AS&I segments, partially offset by higher shipments in the A&T segment. Revenue was $2.6 billion, an increase of 22% compared to the third quarter of 2025 due to higher revenue per ton, including higher metal prices, partially offset by lower shipments. Net income of $119 million reflected an increase of $31 million compared to net income of $88 million in the third quarter of 2025. Adjusted EBITDA was $276 million, an increase of $41 million compared to Adjusted EBITDA of $235 million in the third quarter of 2025 due to stronger results in our A&T and P&ARP segments and lower corporate costs, partially offset by weaker results in our AS&I segment, an unfavorable change in the non-cash metal price lag impact, and unfavorable foreign exchange translation.

For the first nine months of 2026, the Company had shipments of 1.1 million metric tons, a decrease of 1% compared to the first nine months of 2025 due to lower shipments in the P&ARP and AS&I segments, partially offset by higher shipments in the A&T segment. Revenue was $7.8 billion, an increase of 26% compared to the first nine months of 2025 due to higher revenue per ton, including higher metal prices, partially offset by lower shipments. Net income of $463 million reflected an increase of $301 million compared to net income of $162 million in the first nine months of 2025. Adjusted EBITDA was $1.1 billion, an increase of $508 million compared to the first nine months of 2025 due to stronger results in each of our operating segments, a favorable change in the non-cash metal price lag impact, and favorable foreign exchange translation, partially offset by higher corporate costs.

Results by Segment

Aerospace & Transportation (A&T)

For the third quarter of 2026, Segment Adjusted EBITDA was $102 million, an increase of 13% compared to the third quarter of 2025 primarily due to higher shipments and favorable price and mix, partially offset by higher operating costs given higher activity levels and unfavorable foreign exchange translation. Shipments of 59 thousand metric tons reflected an increase of 18% compared to the third quarter of 2025 due to higher shipments of aerospace and TID rolled products, which benefited from an improved market environment. Revenue was $664 million, an increase of 38% compared to the third quarter of 2025 due to higher shipments and higher revenue per ton, including higher metal prices.

For the first nine months of 2026, Segment Adjusted EBITDA was $340 million, an increase of 33% compared to the first nine months of 2025 primarily due to higher shipments, favorable price and mix, and favorable foreign exchange translation, partially offset by higher operating costs given higher activity levels. Shipments of 184 thousand metric tons reflected an increase of 19% compared to the first nine months of 2025 due to higher shipments of aerospace and TID rolled products, which benefited from an improved market environment. TID also benefited from supply shortages of automotive rolled products in North America. Revenue was $2.0 billion, an increase of 36% compared to the first nine months of 2025 due to higher shipments and higher revenue per ton, including higher metal prices.

Packaging & Automotive Rolled Products (P&ARP)

For the third quarter of 2026, Segment Adjusted EBITDA was $162 million, an increase of 98% compared to the third quarter of 2025 primarily due to favorable price and mix and favorable metal costs at both Muscle Shoals and Neuf-Brisach, including the continued ramp up of our recycling center in France, partially offset by lower shipments. Shipments of 266 thousand metric tons reflected a decrease of 3% compared to the third quarter of 2025 due to lower shipments of packaging rolled products, partially offset by higher shipments of automotive rolled products, which benefited from supply shortages in North America. Revenue was $1.6 billion, an increase of 24% compared to the third quarter of 2025 due to higher revenue per ton, including higher metal prices, partially offset by lower shipments.

For the first nine months of 2026, Segment Adjusted EBITDA was $478 million, an increase of 120% compared to the first nine months of 2025 primarily due to favorable price and mix, favorable metal costs at both Muscle Shoals and Neuf-Brisach, including the continued ramp up of our recycling center in France, and favorable foreign exchange translation, partially offset by lower shipments. Shipments of 793 thousand metric tons reflected a decrease of 3% compared to the first nine months of 2025 mainly due to lower shipments of packaging rolled products, partially offset by higher shipments of automotive rolled products, which benefited from supply shortages in North America. Revenue was $4.8 billion, an increase of 28% compared to the first nine months of 2025 due to higher revenue per ton, including higher metal prices, partially offset by lower shipments.

Automotive Structures & Industry (AS&I)

For the third quarter of 2026, Segment Adjusted EBITDA was $21 million, a decrease of 36% compared to the third quarter of 2025 primarily due to lower shipments and unfavorable price and mix primarily driven by net customer compensation for underperformance of an automotive program received in the third quarter of 2025, partially offset by lower operating costs. Shipments of 46 thousand metric tons reflected a decrease of 4% compared to the third quarter of 2025 due to lower shipments of both automotive and other extruded products. Revenue was $402 million, a decrease of 2% compared to the third quarter of 2025 due to lower shipments, partially offset by higher revenue per ton, including higher metal prices.

For the first nine months of 2026, Segment Adjusted EBITDA was $71 million, an increase of 6% compared to the first nine months of 2025 primarily due to lower operating costs and favorable foreign exchange translation, partially offset by lower shipments and unfavorable price and mix primarily driven by net customer compensation for underperformance of an automotive program received in the third quarter of 2025. Shipments of 151 thousand metric tons reflected a decrease of 3% compared to the first nine months of 2025 due to lower shipments of both automotive and other extruded products. Revenue was $1.3 billion, an increase of 5% compared to the first nine months of 2025 primarily due to higher revenue per ton, including higher metal prices, partially offset by lower shipments.

The following table reconciles the total of our segments’ measures of profitability to the group’s net income:

Reconciling items excluded from our Segment Adjusted EBITDA include the following:

Metal price lag

Metal price lag represents the financial impact of the timing difference between when aluminum prices included within Constellium's Revenue are established and when aluminum purchase prices included in Cost of sales are established, which is a non-cash financial impact. The calculation of metal price lag adjustment is based on a standardized methodology applied at each of Constellium’s manufacturing sites. Metal price lag is calculated as the average value of product purchased in the period, approximated at the market price, less the value of product in inventory at the weighted average of metal purchased over time, multiplied by the quantity sold in the period.

For the third quarter of 2026, metal price lag was negative, which reflects prices for primary aluminum decreasing during the period. For the third quarter of 2025 and the first nine months of both 2026 and 2025, metal price lag was positive, which reflects prices for primary aluminum increasing during the periods.

Other adjustments are detailed in the Reconciliation of net income to Adjusted EBITDA Table on page 16.

Net Income

For the third quarter of 2026, net income of $119 million compares to net income of $88 million in the third quarter of the prior year. The increase in net income is primarily related to higher gross profit (revenue less cost of sales, excluding depreciation and amortization), partially offset by unfavorable changes in other gains and losses.

For the first nine months of 2026, net income of $463 million compares to net income of $162 million in the first nine months of the prior year. The increase in net income is primarily related to higher gross profit (revenue less cost of sales, excluding depreciation and amortization) and favorable changes in other gains and losses, partially offset by higher selling and administrative expenses and higher income tax expense.

Cash Flow

Cash flows from operating activities were $420 million for the first nine months of 2026 compared to cash flows from operating activities of $271 million in the first nine months of the prior year.

Free Cash Flow was $223 million in the first nine months of 2026 compared to $68 million in the first nine months of the prior year. The increase in Free Cash Flow was primarily due to higher Segment Adjusted EBITDA, partially offset by an unfavorable change in working capital.

Cash flows used in investing activities were $195 million for the first nine months of 2026 compared to cash flows used in investing activities of $200 million in the first nine months of the prior year.

Cash flows used in financing activities were $184 million for the first nine months of 2026 compared to cash flows used in financing activities of $103 million in the first nine months of the prior year. During the first nine months of 2026, the Company repurchased 2.8 million ordinary shares of the Company for $78 million and redeemed $100 million out of the $325 million outstanding aggregate principal amount of its 5.625% Senior Notes due June 2028. During the first nine months of 2025, the Company repurchased 6.5 million ordinary shares of the Company for $75 million.

Liquidity and Net Debt

Liquidity at September 30, 2026 was $992 million, comprised of $158 million of cash and cash equivalents and $834 million available under our committed lending facilities and factoring arrangements.

Total debt was $1,817 million at September 30, 2026, compared to $1,944 million at December 31, 2025. Net debt was $1,658 million at September 30, 2026, compared to $1,824 million at December 31, 2025.

As a reminder, in July the Company completed a $100 million partial redemption of the 5.625% Senior Notes due June 2028, leaving $225 million aggregate principal amount outstanding.

Outlook

Based on our current outlook, we are raising our guidance for 2026 and now expect Adjusted EBITDA in the range of $1.03 billion to $1.06 billion, excluding the non-cash impact of metal price lag, and Free Cash Flow in excess of $300 million.

We are not able to provide a reconciliation of this Adjusted EBITDA guidance to net income, the comparable GAAP measure, because certain items that are excluded from Adjusted EBITDA cannot be reasonably predicted or are not in our control. In particular, we are unable to forecast the timing or magnitude of realized and unrealized gains and losses on derivative instruments, metal price lag, impairment or restructuring charges, or taxes without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, net income in the future.

Recent Developments

On October 22, 2026, the Pan-U.S. ABL was amended to, among other things, increase the available commitments from $550 million to $700 million and extend the maturity to October 22, 2031.

Forward-looking statements

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release contains “forward-looking statements” with respect to our business, results of operations and financial condition, including, among others, statements regarding anticipated macroeconomic, end-market and industry environments, our areas of execution focus, and earnings guidance. You can identify forward-looking statements because they contain words such as, but not limited to, “anticipates,” “approximately,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “likely,” “may,” “plans,” “should,” “targets,” “will,” “would,” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties and are based on underlying assumptions that may prove incorrect. Many risks and uncertainties are inherent in our industry and markets, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: market competition; global or regional economic downturns or industry specific conditions, including the impacts of tax and tariff programs, inflation, foreign currency exchange, and industry consolidation; disruption to business operations; natural disasters including severe flooding and other weather-related events; geopolitical tensions and conflicts, including the ongoing conflict between Russia and Ukraine and the ongoing conflict involving the United States, Israel and Iran; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; supply disruptions; excessive inflation; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 10-K, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

About Constellium

Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value-added aluminum products for a broad scope of markets and applications, including aerospace, packaging and automotive. Constellium generated $8.4 billion of revenue in 2025.

Constellium’s earnings materials for the third quarter and the nine months ended September 30, 2026 are also available on the company’s website (www.constellium.com).

Non-GAAP measures

In addition to the results reported in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”), this press release includes information regarding certain financial measures which are not prepared in accordance with U.S. GAAP (“non-GAAP measures”). The non-GAAP measures used in this press release are: Adjusted EBITDA, Free Cash Flow and Net debt. Reconciliations to the most directly comparable U.S. GAAP financial measures are presented in the schedules to this press release. We believe these non-GAAP measures are important supplemental measures of our operating and financial performance. By providing these measures, together with the reconciliations, we believe we are enhancing investors’ understanding of our business, our results of operations and our financial position, as well as assisting investors in evaluating the extent to which we are executing our strategic initiatives. However, these non-GAAP financial measures supplement our U.S. GAAP disclosures and should not be considered an alternative to the U.S. GAAP measures and may not be comparable to similarly titled measures of other companies.

Adjusted EBITDA is not a presentation made in accordance with U.S. GAAP, is not a measure of financial condition, liquidity or profitability and should not be considered as an alternative to profit or loss for the period, revenues or operating cash flows determined in accordance with U.S. GAAP. The most directly comparable U.S. GAAP measure to Adjusted EBITDA is our net income or loss for the relevant period.

Adjusted EBITDA is defined as income / (loss) from continuing operations before income taxes, results from joint ventures, net finance costs, other expenses and depreciation and amortization as adjusted to exclude restructuring costs, impairment charges, unrealized gains or losses on derivatives and on foreign exchange differences on transactions which do not qualify for hedge accounting, share based compensation expense, non-operating gains / (losses) on pension and other post-employment benefits, factoring expenses, effects of certain purchase accounting adjustments, start-up and development costs or acquisition, integration and separation costs, certain incremental costs and other exceptional, unusual or generally non-recurring items.

We believe Adjusted EBITDA is useful to investors as it illustrates the underlying performance of continuing operations by excluding certain non-recurring and non-operating items. We believe that Adjusted EBITDA is frequently used by securities analysts, investors and other stakeholders in their evaluation of the Company’s performance.

Free Cash Flow is defined as net cash flow from operating activities, less capital expenditures, net of property, plant and equipment inflows. Management believes that Free Cash Flow is a useful measure of the net cash flow generated or used by the business as it takes into account both the cash generated or consumed by operating activities, including working capital, and the capital expenditure requirements of the business. However, Free Cash Flow is not a presentation made in accordance with U.S. GAAP and should not be considered as an alternative to operating cash flows determined in accordance with U.S. GAAP. Free Cash Flow has certain inherent limitations, including the fact that it does not represent residual cash flows available for discretionary spending, notably because it does not reflect principal repayments required in connection with our debt or capital lease obligations.

Net debt is defined as debt plus or minus the fair value of cross currency basis swaps net of margin calls less cash and cash equivalents and cash pledged for the issuance of guarantees. Management believes that Net debt is a useful measure of indebtedness because it takes into account the cash and cash equivalent balances held by the Company as well as the total external debt of the Company. Net debt is not a presentation made in accordance with U.S. GAAP and should not be considered as an alternative to debt determined in accordance with U.S. GAAP. Leverage is defined as Net debt divided by last twelve months Segment Adjusted EBITDA, which excludes the non-cash impact of metal price lag.

CONSOLIDATED INCOME STATEMENT (unaudited)

CONSOLIDATED BALANCE SHEETS (unaudited)