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.

CENTREVILLE, Va., June 16, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) delivered the secondary payload on the recent SBIRS GEO5 Altas V launch as part of the existing $100 million Launch Manifest Systems Integrator (LMSI) contract. Awarded in 2019, LMSI is designed to expand access to space and maximize the orbit delivery potential of each launch. The company designs, develops, tests, and integrates multi-manifest satellite vehicles on U.S. Government space launch systems.

Parsons Integrates Secondary Payload on Latest Atlas V Launch

Acquisition enhances cyber, electronic warfare, and information dominance capabilities Acquisition enhances cyber, electronic warfare, and information dominance capabilities

Parsons to Acquire BlackHorse Solutions, Inc.

CENTREVILLE, Va., June 04, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Stifel 2021 Virtual Cross Sector Insight Conference. Chuck Harrington, Chairman and CEO, and George Ball, CFO, will participate in a fireside chat question and answer session on Tuesday, June 8, 2021, at approximately 3:20 p.m. Eastern Time.

Parsons to Present at the Stifel 2021 Virtual Cross Sector Insight Conference

CENTREVILLE, Va., June 03, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today the upgrade of the Department of Defense's airborne mission planning software, C2Core® Air, with a new cloud-native, web-based client sharing capability that unlocks the full power of cloud computing for combat operations, enhances the operator's quick reaction capabilities, and significantly reduces mission planning timelines. The system is the first commercial global, cloud-compliant airborne mission planning software currently in operations.

Parsons' C2Core® Becomes First Commercial Cloud-Native Airborne Mission Planning Software

CENTREVILLE, Va., May 19, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a change order by the Georgia Department of Transportation (Georgia DOT) to continue serving as the owner's representative and general engineering consultant for the I-285/I-20 East Interchange reconstruction. The $27 million contract includes concept development, environmental documentation, technical reviews and inspection services.

Parsons Awarded $27 Million Contract By Georgia Department of Transportation To Improve I-285/I-20 East Interchange

CENTREVILLE, Va., May 17, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has been awarded a task order contract by the Space and Missile Systems Center Special Programs Directorate (SMC/SPG) for Integrated Solutions for Situational Awareness (ISSA) support, potentially worth up to $185 million. The cost-plus-fixed-fee (CPFF) contract has a one-year base period with four one-year options. It will provide SMC/SPG and its strategic partners with highly specialized services in IT engineering, space domain expertise, software development, scientific analysis, and data analytics to develop, maintain, sustain, and enhance the ISSA system.

Parsons Wins $185 Million Space Situational Awareness Task Order Contract

CENTREVILLE, Va., May 10, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has named Jason Yaley as the company's new chief communications officer, effective May 17. Yaley joins Parsons from Advanced Concepts and Technologies International (ACT I), where he served as chief management officer. He will report to Carey Smith, Parsons' president and chief operating officer.

Parsons Names Jason Yaley as Chief Communications Officer

CENTREVILLE, Va., May 10, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Goldman Sachs Industrials & Materials Conference 2021. Carey Smith, President and COO, and George Ball, CFO, will participate in a fireside chat question and answer session on Thursday, May 13, 2021, at approximately 1:00 p.m. Eastern Time.

Parsons to Present at the Goldman Sachs Industrials & Materials Conference 2021

Parsons Corporation (PSN) CEO Chuck Harrington on Q1 2021 Results - Earnings Call Transcript

CENTREVILLE, Va., May 07, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), in partnership with the Modern Military Association of America (MMAA), is proud to announce Jonathan Hegwood, military spouse and U.S. Army veteran, as the inaugural recipient of the 2021 MMAA Donna Johnson Military Spouse Scholarship.

Parsons & MMAA Provide Scholarship to Third-Generation Military Veteran

Parsons Corp (NYSE: PSN) reported a first-quarter FY21 revenue decline of 10% year-on-year to $874.7 million, missing the analyst consensus of $902.68 million. The pandemic affected $64 million of contract work, and lower pass-through revenue drove the decline.

Parsons Stock Dropped On Q1 Revenue Miss

Parsons (PSN) delivered earnings and revenue surprises of 21.43% and -2.34%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Tops Q1 Earnings Estimates

CENTREVILLE, Va., May 05, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) was awarded a $618 million task order by the U.S. General Services Administration (GSA) for professional services that advance the Intelligence Community's global cyber and intelligence technologies for C5ISR, exercise, operations, and information services (CEOIS).

Parsons Awarded $618 Million Cyber & Intelligence Task Order

CENTREVILLE, Va., May 5, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2021.

Parsons Reports First Quarter 2021 Results

CENTREVILLE, Va., May 4, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Qatar Public Works Authority (PWA) to provide site supervision services for projects in the western area of Qatar as well as Doha City.

Parsons Awarded $114 Million Contract By Qatar Public Works Authority To Improve Infrastructure

CENTREVILLE, Va., May 04, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) received a 2021 CSO50 Award from IDG's Chief Security Officer (CSO) for security projects and initiatives that demonstrate outstanding business value and thought leadership. Parsons is a global technology company whose commitment to information risk management and security extends from customer-focused solutions to internal best practices.

Parsons Awarded 2021 CSO50 Award for Internal Security Practices

CENTREVILLE, Va., May 4, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company is implementing digital twin and enhanced 3D modeling technology for the Connecticut Department of Transportation's (CTDOT's) I-91/I-691/Route 15 interchange project.

Parsons and CTDOT Leverage Digital Twin Technology to Improve Interchange

Parsons (PSN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Parsons (PSN) to Report a Decline in Earnings: What to Look Out for

CENTREVILLE, Va., April 26, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that it's working with the Selma Center for Nonviolence, Truth, and Reconciliation on a new architectural lighting design and installation for the Edmund Pettus Bridge in Selma, Alabama.

Parsons and HLB Lighting Design Partner with Selma Center on National Historic Landmark

CENTREVILLE, Va., April 23, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today the release of its 2021 corporate social responsibility (CSR) report.

Parsons Reaffirms Commitment to Delivering a Better World

CENTREVILLE, Va., April 20, 2021 /PRNewswire/ -- The board of directors of Parsons Corporation (NYSE: PSN) has elected Carey Smith as chief executive officer, effective July 1st, 2021.

Parsons Announces CEO Transition

CENTREVILLE, Va., April 16, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the City of Toronto as the owner's engineer and technical advisor for the delivery of the F.G.

Parsons Selected by City of Toronto for Delivery of Gardiner Expressway Rehabilitation Project

CENTREVILLE, Va., April 15, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company's contract has been amended by 94 million CAD ($75 million USD) to manage new work at the Giant Mine in the Northwest Territories, Canada.

Parsons Continues Giant Mine Project With Contract Amendment

CENTREVILLE, Va., April 8, 2021 /PRNewswire/ -- Parsons Corporation (NYSE:PSN) will release first quarter 2021 financial results before the markets open on Wednesday, May 5, 2021.

Parsons to Announce First Quarter 2021 Financial Results on May 5, 2021

CENTREVILLE, Va., April 7, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) will provide support to the National Security Agency's (NSA) three-day cyber competition – NSA Cyber Exercise (NCX) – designed to enhance the full-spectrum cyber operational capabilities of U.S. Service Academies, senior military colleges, and current employees in NSA development programs.

News for Parsons Corp Stock (PSN)