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., Aug. 22, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will present at the 2022 Raymond James Diversified Industrials Conference in New York City on Tuesday, August 23, 2022, at approximately 8:35 a.m. Eastern Time.

Parsons to Present at Raymond James Diversified Industrials Conference

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CENTREVILLE, Va., Aug. 18, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company joined the United Nations Global Compact Initiative – a voluntary leadership platform for the development, implementation, and disclosure of responsible business practices that improves global sustainability.

Parsons Joins the United Nations Global Compact Initiative

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CENTREVILLE, Va., Aug. 08, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a leader in the global defense, intelligence, and space markets, announced today the addition of Aurora Insight as a strategic partner for commercial space research, development, and mission exploration and advancement. The multi-year agreement provides an agile vehicle where both companies can align their strengths and solutions with the goal of delivering affordable, rapid mission capabilities to U.S. national security and allied customers in the space domain.

Parsons and Aurora Insight Partner to Advance Commercial Space Solutions for Military Operations

CENTREVILLE, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) joined Los Angeles World Airports (LAWA) to celebrate the unveiling of the 1st of 44 Automated People Mover (APM) vehicles to be delivered to the Los Angeles International Airport (LAX). The APM is a 2.25-mile electric train system that will enhance the traveler experience by making it easier to get into and out of the world's fifth-busiest airport, reduce traffic congestion, and provide a more predictable and reliable commute to and from the airport. The APM incorporates best practices in vehicle sustainability, manufacturing, design, and construction.

Parsons Joins LAWA in Making LAX Airport More Efficient and Sustainable

Parsons Corporation (NYSE:PSN ) Q2 2022 Earnings Conference Call August 3, 2022 8:00 AM ET Company Participants Dave Spille - Senior Vice President, Investor Relations Carey Smith - Chair, President and Chief Executive Officer Matt Ofilos - Chief Financial Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Jasper Bibb - Truist Bert Subin - Stifel Gavin Parsons - Goldman Sachs Josh Sullivan - The Benchmark Company Cai von Rumohr - Cowen Louie DiPalma - William Blair Operator Good day, and welcome to the Parsons Corporation's Second Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode.

Parsons Corporation's (PSN) CEO Carey Smith on Q2 2022 Results - Earnings Call Transcript

Parsons (PSN) delivered earnings and revenue surprises of 0% and 10.09%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Matches Q2 Earnings Estimates

Parsons Reports Second Quarter 2022 Results; Momentum and Strategic M&A Continues

CENTREVILLE, Va., July 27, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Defense Threat Reduction Agency (DTRA) as one of five awardees to execute an assessments, exercises, modeling and simulation support indefinite delivery/indefinite quantity (IDIQ), multiple award task order contract. The $850 million ceiling value contract contains a five-year base period with one five-year option period.

Parsons Wins Seat On Defense Threat Reduction Agency (DTRA) Contract With $850M Ceiling

CENTREVILLE, Va., July 25, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has named Matt Ofilos as the company's chief financial officer (CFO). Ofilos, who previously served as Parsons' executive vice president of finance, succeeds George Ball, who served as CFO since 2008 and will remain in an advisory capacity through September 2022. Ofilos brings more than 20 years of finance experience and a proven track record of delivering profitable growth and building high-performance finance teams to the role. The board of directors also announced the appointment of two new directors: George Ball and Ellen Lord, the former Under Secretary of Defense for Acquisition and Sustainment. All three appointments are effective July 25, 2022.

Parsons Promotes Matt Ofilos to Chief Financial Officer; Names George Ball and Ellen Lord to Board of Directors

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CENTREVILLE, Va., July 11, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release second quarter 2022 financial results before the markets open on Wednesday, August 3, 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 Second Quarter 2022 Financial Results on August 3, 2022

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Parsons (PSN) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Parsons (PSN) Soars 5.4%: Is Further Upside Left in the Stock?

CENTREVILLE, Va., June 27, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Greater Asheville Regional Airport Authority (GARAA) to provide program management, including evaluation, development, and management of the terminal building modernization and expansion project.

Parsons To Help Modernize and Expand Asheville Regional Airport

CENTREVILLE, Va., June 21, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has announced the promotion of Tim Schmitt to its executive leadership team, effective Aug. 1, 2022. Schmitt joined Parsons in 2018 through the company's acquisition of Polaris Alpha® and has served as chief development officer since that time. In his new role, Schmitt will continue serving as chief development officer, leading Parsons' robust merger and acquisition (M&A) program and overseeing the corporation's strategy and market research efforts.

Parsons Appoints Tim Schmitt to Executive Leadership Team

CENTREVILLE, Va., June 16, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) was selected by the U.S. Defense Health Agency (DHA) to provide health-related research and development and additional activities of interest for the Department of Defense and the Military Healthcare System. The $10 billion ceiling value Omnibus IV is a five-year multiple-award indefinite delivery/indefinite quantity contract with one five-year option period.

Parsons Supporting U.S. Defense Health Agency On $10 Billion Omnibus IV Contract

CENTREVILLE, Va., June 08, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today the opening of an innovation laboratory focused on rapidly developing and delivering operational technology to the nation's Department of Defense (DoD), Intelligence Community, and Federal Civilian markets in an open, experimental environment: the PALADIN Lab.

Parsons Opens Innovation Lab in Maryland

CENTREVILLE, Va., June 02, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, Chairwoman, President, and Chief Executive Officer, and Matt Ofilos, Executive Vice President of Finance, will present at the Stifel 2022 Cross Sector Insight Conference on Wednesday, June 8, 2022, at approximately 9:10 a.m. Eastern Time.

Parsons to Present at the Stifel 2022 Cross Sector Insight Conference

CENTREVILLE, Va., June 01, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it completed the previously communicated acquisition of Xator Corporation in a deal valued at $400 million. The strategic acquisition expands Parsons' presence within the U.S. Special Operations Command, the Intelligence Community, Federal Civilian customers, and global critical infrastructure markets, while providing new customer access at the Department of State, which is expected to experience significant budgetary growth.

Parsons Completes Acquisition of Xator Corporation

CENTREVILLE, Va., May 26, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Carey Smith, Chairwoman, President, and Chief Executive Officer, and Matt Ofilos, Executive Vice President of Finance, will present at the Jefferies Virtual IT Services Summit on Wednesday, June 1, 2022, at approximately 8:00 a.m. Eastern Time.

Parsons to Present at the Jefferies Virtual IT Services Summit

CENTREVILLE, Va., May 26, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Niagara International Transportation Technology Coalition (NITTEC) to provide an innovative artificial intelligence (AI) based regional border transportation management system that will expedite the movement of goods and people around the Buffalo-Niagara bi-national region in Western New York State and Southern Ontario.

Parsons Awarded Contract for AI-Based Smart Mobility System

Parsons Corp (NYSE: PSN) has agreed to acquire Reston, Virginia-based Xator Corp for $400 million. Xator provides mission-focused solutions addressing critical infrastructure protection, national security, and mission training requirements for the U.S. Government worldwide.

Parsons Strengthens Technical Capabilities Via This $400M Deal - Read More For Deails

CENTREVILLE, Va,, May 23, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it has entered into a definitive agreement to acquire Xator Corporation in a transaction valued at $400 million. Founded in 2005, Xator expands Parsons' customer base and brings differentiated technical capabilities in critical infrastructure protection, counter-unmanned aircraft systems (cUAS), intelligence and cyber solutions, biometrics, and global threat assessment and operations, increasing the company's addressable market in both the federal solutions and critical infrastructure segments.

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