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.

Parsons Corporation (NYSE:PSN ) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET Company Participants Dave Spille - Senior Vice President, Investor Relations Carey Smith - Chair, President and CEO Matt Ofilos - Chief Financial Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Andrew Wittmann - Baird Cai von Rumohr - TD Cowen Tobey Sommer - Truist Securities Alex Dwyer - KeyBanc Capital Josh Sullivan - The Benchmark Company Louie DiPalma - William Blair Noah Poponak - Goldman Sachs Operator Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2024 Parsons Corporation Earnings Conference Call.

Parsons Corporation (PSN) Q3 2024 Earnings Call Transcript

Parsons (PSN) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.69 per share a year ago.

Parsons (PSN) Tops Q3 Earnings and Revenue Estimates

Q3 2024 Financial Highlights Record revenue of $1.8 billion increases 28% year-over-year Record organic revenue growth of 26%, including six consecutive quarters with year-over-year organic growth above 20% Record net income increases 52% to $72 million Record adjusted EBITDA increases 31% to $167 million Record cash flow from operations increases by $95 million to $299 million; record trailing twelve-month operating cash flow of $587 million increases 91% over the prior twelve-month period Contract awards increase 24% to $1.8 billion, a third quarter record Announced and closed BlackSignal Technologies acquisition After Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Engineering, LLC Increasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the third quarter ended September 30, 2024.

Parsons Reports Record Results Since IPO for the Third Quarter of 2024

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CHANTILLY, Va., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a Defense Threat Reduction Agency (DTRA) Proliferation Prevention Program task order to reduce the threat of weapons of mass destruction (WMD) proliferation in Eastern Europe. The $27 million ceiling-value task order under the DTRA Cooperative Threat Reduction Integrating Contract (CTRIC) III is new work for the company and consists of a two-year period of performance and three one-year option periods.

Parsons Awarded $27 Million Defense Threat Reduction Agency Task Order for Proliferation Prevention

Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S. Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S.

Parsons to Acquire BCC Engineering

CHANTILLY, Va., Oct. 17, 2024 (GLOBE NEWSWIRE) --  Parsons Corporation (NYSE: PSN) announced today that the company was awarded a seat on a $225 million multiple award task order contract (MATOC) by the United States Army Corps of Engineers (USACE) Kansas City District. The contract for environmental remediation activities has a one-year base period and four one-year option periods and represents new work for the company. The contract includes projects funded by the Infrastructure Investment and Jobs Act in support of Environmental Protection Agency (EPA) cleanup projects that protect public health and safety.

Parsons Wins Seat on $225M U.S. Army Corps of Engineers Contract for Environmental Remediation

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CHANTILLY, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded two contracts worth $25 million to perform design engineering for a Middle East transportation customer. With the same customer, Parsons has won more than $90 million in contract awards over the last 9 months.

Parsons Awarded $25M Contracts for Middle East Transportation Projects

CHANTILLY, Va., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced that the company was selected by the National Guard Bureau to manage the operation and maintenance of a per-and polyfluoroalkyl substances (PFAS) groundwater treatment system at Burlington Air National Guard Base, Vermont. The two-year task order is new work for the company.

Parsons Leading PFAS Groundwater Treatment at Burlington Air National Guard Installation

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CHANTILLY, Va., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on an indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract (MATOC) by the Defense Threat Reduction Agency (DTRA) to support Countering Weapons Of Mass Destruction (CWMD) objectives. The $4 billion ceiling value contract includes a five-year base period and one five-year option period and is new work for the company.

Parsons Awarded Position on $4B Defense Threat Reduction Agency Contract

CHANTILLY, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a leading national security solutions company in the space domain, is proud to announce the successful delivery of Phase 1.0, the initial capabilities release for the National Oceanic and Atmospheric Administration's (NOAA) Office of Space Commerce's (OSC) Traffic Coordination System for Space (TraCSS) program. Parsons is the system integration and cloud management services lead for TraCSS, a modern, cloud-based IT system that will provide space situational awareness (SSA) and space traffic coordination (STC) services to private and civil space operators.

Parsons Delivers Critical Milestone for NOAA's TraCSS Program

CHANTILLY, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release third quarter 2024 financial results before the markets open on Wednesday, October 30, 2024. 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 Third Quarter 2024 Financial Results on October 30, 2024

CHANTILLY, Va., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been named to S&P Dow Jones Indices prestigious S&P MidCap 400 Index, effective prior to the open of trading on September 23, 2024. The company, which celebrated its 80th anniversary earlier this year, is a leading 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.

Parsons Corporation Named to S&P MidCap 400

CHANTILLY, Va., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a contract by the United States Army Corps of Engineers (USACE) Honolulu District to provide the design-bid-build delivery of new U.S. Army housing units in the Kwajalein Atoll in the Republic of the Marshall Islands. The three-year, $68.5 million single-award contract is new work for the company.

Parsons Supports U.S. Indo-Pacific Defense With $68.5 Million U.S. Army Infrastructure Contract

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CHANTILLY, Va., Aug. 28, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Jefferies Industrials Conference. Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session on Wednesday, September 4, 2024, at approximately 9:50 a.m. Eastern Time.

Parsons to Present at the Jefferies Industrials Conference

CHANTILLY, Va., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the Georgia Department of Transportation (GDOT) and the Georgia State Road and Tollway Authority (SRTA) have selected a team that includes the company as lead engineer for the State Route 400 (SR 400) Express Lanes Major Mobility Investment Program (MMIP) Project. The project is led by a Public Private Partnership (P3) awarded to SR 400 Peach Partners consisting of Acciona Concesiones, ACS Infrastructure, and Meridiam as the lead operations, maintenance, and toll operations providers. Dragados and Acconia Construction will serve as the lead construction contractors, and Indra USA will serve as the toll systems integration contractor. Parsons will serve as the lead engineer for the construction contractors.

Parsons Selected as Lead Engineer to Add Express Toll Lanes to State Route 400 in Georgia

Parsons (PSN) is selected as a lead designer in Honolulu's $1.66B rail project, strengthening its position in sustainable infrastructure.

Parsons (PSN) Secures Role in the $1.66B Honolulu Rail Project

CHANTILLY, Va., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded nearly $46M to oversee Operations Technology Maintenance Services for an East Coast strategic transportation customer.

Parsons Selected to Maintain Advanced Transportation Operation Technology for Transportation Customer

Parsons is increasingly using artificial intelligence (AI) to improve and expand its solutions for government and commercial customers. The company's profitability has been increasing since its IPO.

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CHANTILLY, Va., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a global leader in rail and transit, environment solutions, aviation, and engineering, will serve as the lead designer on the Honolulu Authority for Rapid Transportation's (HART) City Center Guideway and Stations Project in Honolulu, Hawaii.

Parsons Awarded Lead Design Contract on $1.66B Honolulu Rail Project

Acquisition enhances Parsons' cybersecurity, electronic warfare, and artificial intelligence capabilities Acquisition enhances Parsons' cybersecurity, electronic warfare, and artificial intelligence capabilities

Parsons Completes Acquisition of BlackSignal Technologies

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News for Parsons Corp Stock (PSN)