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.

CHANTILLY, Va., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Kicking Horse Canyon Phase 4 (KHCP4), a transformative infrastructure initiative in British Columbia (BC), Canada, has been awarded the prestigious 2024 Global Best Project Award in the Road/Highway category by Engineering News-Record (ENR). Led by Kicking Horse Canyon Constructors – a joint venture between Aecon Constructors, Parsons Corporation, and Emil Anderson Construction – the project was delivered in partnership with the Transportation Investment Corporation and the BC Ministry of Transportation and Infrastructure.

Kicking Horse Canyon Wins Global Best Project of the Year Award

Parsons (PSN) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.

Parsons (PSN) Loses -9.8% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

CHANTILLY, Va., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the Tennessee Department of Transportation (TDOT) has selected the company to serve as lead designer for the proposed America's River Crossing project, a pivotal infrastructure project aimed at enhancing transportation connectivity and economic growth in the Memphis region. This contract win marks a significant milestone for Parsons, further solidifying its position as a leader in long-span bridge design.

Parsons Extends Bridge Franchise with America's River Crossing Award

Parsons (PSN) possesses solid growth attributes, which could help it handily outperform the market.

3 Reasons Why Growth Investors Shouldn't Overlook Parsons (PSN)

CHANTILLY, Va., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has launched the latest version of its DERMS solutions platform, a distributed energy resource (DER) management system and IoT platform. This open standards-based system, available as SaaS or enterprise landed, revolutionizes the integration and realization of the environmental and economic benefits of renewable energy also known as DERs that include solar panels, wind turbines, energy storage, electric batteries, thermostat controllers and building energy systems.

Parsons Launches New Version of DERMS, Enhancing Grid Reliability and Resiliency

NEW YORK , Nov. 11, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Parsons Corporation (NYSE: PSN) on behalf of the company's shareholders.  The investigation seeks to determine whether Parsons's directors breached their fiduciary duties in connection with recent corporate actions.

SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Parsons Corporation (NYSE: PSN)

CHANTILLY, Va., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) was recognized as “Contractor of the Year” this week at the 22nd Annual Greater Washington Government Contractor Awards, where the company won the “Contractor of the Year, greater than $300 million” category. The annual event, presented by the Northern Virginia Chamber of Commerce and the Professional Services Council, is the premier event honoring the leadership, innovation, and commitment to excellence of the people and businesses of the government contracting community.

Parsons Named Government Contractor of the Year

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Investors interested in stocks from the Technology Services sector have probably already heard of Parsons (PSN) and AppLovin (APP). But which of these two stocks is more attractive to value investors?

PSN or APP: Which Is the Better Value Stock Right Now?

Parsons Corporation's share price surged 78% in the past year, yet it still has room for growth with a one-year price target of $132.62. Analysts expect double-digit earnings growth through 2026, driven by profitable growth, management expertise, and rising free cash flow. Despite competitive pressures, Parsons shows strong Q3 results with record net income, adjusted EBITDA, and cash flow, supporting its growth stock status.

Parsons Still Has Room For More Double-Digit Growth

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

Parsons Completes Acquisition of BCC Engineering

Parsons (PSN) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

Parsons Corporation (PSN) Hits Fresh High: Is There Still Room to Run?

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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Parsons (PSN) is well positioned to outperform the market, as it exhibits above-average growth in financials.

Is Parsons (PSN) a Solid Growth Stock? 3 Reasons to Think "Yes"

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

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

Does Parsons (PSN) have what it takes to be a top stock pick for momentum investors? Let's find out.

Are You Looking for a Top Momentum Pick? Why Parsons (PSN) is a Great Choice

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.

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