Parsons Corp

Parsons Corp. provides engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. It delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers. It operates through Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment is involved in advanced technologies, including cybersecurity, missile defense systems, C5ISR, space launch and situational awareness, geospatial intelligence, RF signals intelligence, nuclear and chemical waste remediation, and engineering services. The Critical Infrastructure segment offers integrated design and engineering services for complex physical and digital infrastructure around the globe. The company was founded by Ralph Monroe Parsons on June 12, 1944 and is headquartered in Centreville, VA.

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Parsons Corp achieves record revenue in Q4 2022 earnings call

Parsons Corp reported strong financial performance in Q4 2022, with record revenue, adjusted EBITDA, and solid cash flow. The company's 2023 priorities include winning new projects, expanding margins, and acquiring accretive assets.
Despite challenges such as unfavorable rate impacts and revenue recognition complexities, Parsons remains optimistic about growth opportunities in various segments. The company's focus on federal solutions and critical infrastructure aligns with market demands and growth expectations.
With a positive outlook for continued growth and opportunities, Parsons Corp is well-positioned to capitalize on infrastructure programs in North America and drive organic revenue growth. Strategic planning and execution will be crucial in navigating challenges and maximizing opportunities.

Parsons Corp reports record Q1 revenue and strong contract wins

Parsons Corp had a strong start to the year, setting records in revenue and financial metrics, while also expanding capabilities through acquisitions. The company faces challenges in legacy contract phase-outs but sees opportunities in geopolitical demand and future bookings potential.

Parsons Corp achieves record Q2 results, eyes strategic expansion

Parsons Corp's Q2 2023 performance reflects exceptional growth in revenue, EBITDA, and contract wins, positioning the company for continued success.
Despite facing challenges such as uncertain budget environments and M&A constraints, Parsons remains confident in its operational capabilities and growth strategies.
With a strong backlog, robust pipeline, and strategic acquisitions, Parsons is well-positioned to capitalize on opportunities for expansion and market growth.

Parsons Corp reports record Q3 results and strengthens cyber capabilities

Parsons Corp delivered exceptional financial performance, raised guidance, and secured significant contract wins across key sectors.
The company's strategic acquisitions in cyber operations and transportation engineering position it well for future growth.
Despite potential challenges like margin pressures and hiring difficulties, Parsons is optimistic about its growth prospects and market positioning.

Parsons Corp achieves record 2023 results, eyes strategic acquisitions

Parsons Corp delivered exceptional financial performance in 2023, driven by strong revenue growth and strategic acquisitions. The company's focus on M&A for capital deployment and technology enhancement presents opportunities for further growth. Challenges include maintaining margin accretion post-acquisition and ensuring all segments meet organic growth targets.

Parsons Corp achieves record Q1 results, eyes global expansion

Parsons Corp's Q1 2024 earnings call showcased exceptional performance, strong financials, and a strategic focus on growth. Despite challenges in hiring for Federal projects, the company is well-positioned for expansion with a robust pipeline and acquisition plans.

Parsons Corp achieves record Q2 results, eyes growth in critical sectors

Parsons Corp's Q2 2024 earnings call highlighted exceptional financial performance, strategic acquisitions, and recognition for innovative solutions. The company's focus on high-value solutions, strong market presence in critical sectors, and robust growth strategies position it well for continued success and expansion.

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Parsons Corp. is a disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. It operates through the Federal Solutions and Critical Infrastructure segments. The Federal Solutions segment is involved in advanced technologies, including cybersecurity, missile defense systems, C5ISR, space launch and situational awareness, geospatial intelligence, RF signals intelligence, nuclear and chemical waste remediation, and engineering services. The Critical Infrastructure segment offers integrated design and engineering services for complex physical and digital infrastructure around the globe. The company was founded by Ralph Monroe Parsons on June 12, 1944 and is headquartered in Chantilly, VA.

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Company Honored for 13th Consecutive Year by Ethisphere Company Honored for 13th Consecutive Year by Ethisphere

Parsons Again Named One of the World's Most Ethical Companies

CENTREVILLE, Va., March 10, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, President and CEO, will present at the J.P. Morgan 2022 Industrials Conference in New York City on Wednesday, March 16, 2022, at approximately 4:40 p.m. Eastern Time.

Parsons to Present at the J.P. Morgan 2022 Industrials Conference

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Although US stocks traded higher this morning, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain.

Insiders Buy Around $2.8M Of 3 Stocks

CENTREVILLE, Va., March 02, 2022 (GLOBE NEWSWIRE) -- As the world's digital revolution continues accelerating, Parsons Corporation (NYSE: PSN) is prioritizing the culture of flexibility, inclusivity, diversity, and innovation that has guided the organization for 77 years by launching it's new website: Life at Parsons .

Parsons Reimagines the Employee Experience

CENTREVILLE, Va., Feb. 28, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will feature capabilities critical to the U.S. Air Force's evolving mission requirements at the Air Force Association Air Warfare Symposium on March 2-4, 2022, in Orlando, Fla. The company will highlight its all-domain command and control solutions, electronic warfare and laser neutralization systems that keep deployed airmen safe, and revolutionary solutions that advance the Air Force's joint all-domain command and control (JADC2) vision.

Parsons to Highlight Transformational Capabilities at AFA Air Warfare Symposium

Parsons Corporation (PSN) CEO Carey Smith on Q4 2021 Results - Earnings Call Transcript

Parsons (PSN) delivered earnings and revenue surprises of 1.85% and 2.70%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Tops Q4 Earnings and Revenue Estimates

Parsons Reports Fourth Quarter and Full Year 2021 Results

CENTREVILLE, Va., Feb. 17, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has entered into a collaborative agreement with Battelle Memorial Institute (Battelle) to combine Parsons' unique per- and polyfluoroalkyl substances (PFAS) investigation approach and tools with Battelle's patented PFAS analytical and site investigation tools and technologies. The combined capabilities will deliver a unique and highly advanced approach to help clients quickly, efficiently, and cost effectively investigate potential PFAS impacts and understand PFAS liabilities.

Parsons And Battelle Deliver Industry-Leading PFAS Investigation Capabilities

Parsons Corp (NYSE: PSN) has secured a contract to provide main construction management and care & maintenance (MCM-C&M) services at Faro Mine in Faro, Yukon, Canada. The contract could span over 20 years and exceed $2 billion.

Parsons Secures Significant Contract To Continue Managing Faro Mine Remediation

CENTREVILLE, Va., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded a contract to provide main construction management and care & maintenance (MCM-C&M) services at Faro Mine in Faro, Yukon, Canada. Once the world's largest open pit lead-zinc mine, the Faro Mine Remediation Project is one of the largest and most complex abandoned mine clean-up projects in Canada. Parsons' contract could span over 20 years and exceed $2 billion.

Parsons Awarded Significant Contract to Continue Managing Faro Mine Remediation

CENTREVILLE, Va., Feb. 03, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Cowen 43rd Annual Aerospace/Defense & Industrials Conference. Carey Smith, President and CEO, and George Ball, CFO, will participate in a fireside chat question and answer session on Wednesday, February 9, 2022, at approximately 1:30 p.m. Eastern Time.

Parsons to Present at the Cowen 43rd Annual Aerospace/Defense & Industrials Conference

CENTREVILLE, Va., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced its selection by NEOM Company to provide project management support in building OXAGON – a reimagined industrial city. NEOM was created by Saudi Arabia's Public Investment Fund (PIF) as part of the Kingdom's Vision 2030 to redefine urban living. OXAGON, as one of NEOM's new regions, will represent the future of Industrial Cities. Parsons will work closely with NEOM and OXAGON to deliver project management, technical, commercial and construction management services to deliver a fully functioning industrial city.

Parsons Building the Future of Industrial Cities at OXAGON

Company named one of the Best Places to Work for LGBTQ+ equality Company named one of the Best Places to Work for LGBTQ+ equality

Parsons Receives Perfect Score on Human Rights Campaign Equality Index

CENTREVILLE, Va., Jan. 24, 2022 (GLOBE NEWSWIRE) -- The board of directors of Parsons Corporation (NYSE: PSN) has unanimously elected Carey A. Smith as chairwoman, effective April 14, 2022. Smith will serve as chairwoman, president, and chief executive officer. She succeeds Charles “Chuck” Harrington, who currently serves as executive chairman and will retire when his current term on the board of directors expires on April 14, 2022, following 40 years with the company. The board also elected Steven F. Leer to serve as lead independent director effective April 14, 2022, succeeding James “Jim” McGovern, who has served as a director since joining the Parsons' board in 2005 and currently serves as lead independent director.

Parsons Corporation Board Unanimously Elects Carey Smith as Chairwoman

CENTREVILLE, Va., Jan. 19, 2022 (GLOBE NEWSWIRE) -- In December 2021, Parsons Corporation (NYSE: PSN) was awarded an $11 million sole-source contract to plan, standup, and demonstrate a prototype ground operations center (GOC) in support of Defense Advanced Research Project Agency's (DARPA) Blackjack flight demonstration activities. The new contract represents Parsons continued commitment to delivering innovative solutions for customers across the space domain and is a follow-on to a phase II small business innovation research (SBIR) contract won by Braxton Technologies, LLC prior to Parsons' 2020 acquisition of the software company.

DARPA Selects Parsons to Prototype Ground Operations for Blackjack Mission

CENTREVILLE, Va., Jan. 18, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release fourth quarter and fiscal year 2021 financial results before the markets open on Wednesday, February 23, 2022. The company will host a conference call at 8:00 a.m. Eastern Time that day to discuss its earnings results and strategic corporate initiatives.

Parsons to Announce Fourth Quarter and Fiscal Year 2021 Financial Results on February 23, 2022

JetBlue Airways

Parsons Corp (NYSE: PSN) has secured a $12.6 million program management contract from JetBlue Airways Corp (NASDAQ: JBLU) to deliver program management services for the development of Terminal 5 at Fort Lauderdale/Hollywood International Airport (FLL). This contract will assist JetBlue in implementing the design and building of a new five-gate, $300 million passenger terminal at FLL.

Parsons Secures $12M Contract From JetBlue To Support Terminal Development

CENTREVILLE, Va., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a contract by new client JetBlue Airways to deliver program management services for the development of Terminal 5 at Fort Lauderdale/Hollywood International Airport (FLL). JetBlue Airways has been selected to manage the construction of Terminal 5 on behalf of the Broward County Aviation Department. The $12.6M program management contract will assist JetBlue in implementing the design and building of a new five-gate, $300M passenger terminal at FLL.

Parsons Awarded $12M Contract to Support Terminal Development for JetBlue

CENTREVILLE, Va., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has been awarded a $38 million task order on the U.S. Army's Responsive Strategic Sourcing for Services contract for tactical applications core infrastructure, utilities, and integration. The new contract will have a one-year base period with three one-year option periods.

U.S. Army Awards Parsons $38 Million Task Order for Tactical Applications

William Blair analyst Louie DiPalma downgraded Parsons Corp (NYSE:PSN) to Market Perform from Outperform without a price target.  DiPalma mentions that the company's organic growth should rebound in 2022, but not as much as consensus estimates imply.

William Blair Downgrades Parsons Citing 2022 Revenue Outlook Risk

CENTREVILLE, Va., Dec. 07, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's Investor Relations (IR) organization was recognized for excellence as part of Institutional Investor's 2022 All-America Executive Team annual survey.

Parsons' Leadership Recognized for Investor Relations Excellence

CENTREVILLE, Va., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company is implementing visual and thermal drone-based sensors to perform roof inspections at U.S. Department of Labor (DOL) Job Corps facilities. Utilizing drones will provide comprehensive roof condition assessments, allowing DOL to more efficiently complete maintenance and repairs.

Parsons Leverages Advanced Drone Technology to Improve Department of Labor Facility Management

CENTREVILLE, Va., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's work on New York City's RFK Bridge – the Harlem River Drive North Connector Ramp – was recognized by the American Council of Engineering Companies New York (ACEC NY) with a Diamond Award as part of the 2021 New York Engineering Excellence Awards.

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