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.

Earnings data Q1 2024

Parsons Corporation achieves record Q1 revenue and anticipates growth opportunities

Parsons Corporation's Q1 2023 performance reflects strong revenue growth, significant contract wins, and an expanded presence in critical infrastructure. The company's recognition for ethical practices, healthy backlog, and strategic positioning in the Middle East and M&A pipeline further bolster its outlook. However, challenges related to potential deceleration in growth rate and measured guidance approach require careful navigation.

Parsons Corporation Achieves Record-Breaking Q2 Results and Eyes Federal Opportunities

Parsons Corporation's Q2 2023 earnings call showcased exceptional performance, driven by record-breaking results, strong ESG commitment, and a positive outlook. While the company faces challenges related to cash flow and specific market factors, it continues to capitalize on opportunities in federal bookings, acquisitions, and unbooked ceiling value. Overall, Parsons' strategic strengths position it well for future growth and success.

Parsons Corporation Achieves Record Q3 Results and Expands Capabilities

Parsons Corporation delivered exceptional Q3 2023 results, driven by significant contract wins, strong financial performance, and strategic acquisitions. The company's focus on cyber, intelligence space, missile defense, and critical infrastructure protection positions it well for sustained growth. While potential challenges exist, Parsons has a strong foundation and promising opportunities for future expansion.

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Parsons Corp. engages in the provision of 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 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., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a contract to compete for a potential $68 million multiple-award contract to support the enterprise communications and networks division at the Naval Information Warfare Center Pacific (NIWC Pacific) for technical development, engineering, and strategic communications in joint and coalition environments. The contract has a three-year base period with four one-year options and will provide continuing command, control, communications, computer and intelligence (C4I) systems engineering support.

Parsons Awarded Contract to Compete for Potential $68 Million U.S. Navy Contract

CENTREVILLE, Va., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has named Peter Torrellas president of the connected communities business unit, effective immediately. He will be based in Centreville, Va., serve as a member of the company's Executive Leadership Team, and report to Carey Smith, president and chief executive officer of Parsons.

Parsons Names Peter Torrellas President of Connected Communities Business Unit

CENTREVILLE, Va., Sept. 30, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has been awarded a new four-year, $145 million contract by Department of the Army, US Army Corps of Engineers (USACE) Norfolk District. This is a design-build delivery project for a new Energetic Waste Incinerator/Contaminated Waste Processor located at the government-owned, contractor-operated Radford Army Ammunition Plant (RFAAP) in Radford, Virginia.

Parsons Wins $145 Million Environmental Contract for Army Ammunition Plant

CENTREVILLE, Va., Sept. 27, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has announced the promotion of Jon Moretta to president of the engineered systems business unit, effective immediately. Moretta joined Parsons in 2016 and most recently served as the industrial market leader in the company's critical infrastructure business segment.

Parsons Names Jon Moretta President of Engineered Systems Business

CENTREVILLE, Va., Sept. 22, 2021 (GLOBE NEWSWIRE) -- BlackHorse Solutions, Inc., a Parsons Corporation (NYSE: PSN) company, was named the 2021 growth company of the year ($25 to $75 million) by ACG National Capital, the region's premier association for corporate professionals with a focus on mergers and acquisition (M&A).

BlackHorse Solutions Named Growth Company of the Year by ACG National Capital

Parsons Corp (NYSE: PSN) has won a prime position on the U.S. Air Force's multiple-award IDIQ Eglin Wide Agile Acquisition Contract (EWAAC). The new contract has a 10-year ordering period with a ceiling value of $46 billion and will provide digital and model-based systems engineering, agile processes, open systems architectures, weapons integration, and data analytics for Eglin AFB, Florida and its mission partners.

Parsons Secures Prime Position On EWAAC Contract

CENTREVILLE, Va., Sept. 14, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a prime position on the United States Air Force's multiple-award indefinite-delivery/indefinite-quantity (IDIQ) Eglin Wide Agile Acquisition Contract (EWAAC). The new contract has a 10-year ordering period with a ceiling value of $46 billion and will provide digital and model-based systems engineering, agile processes, open systems architectures, weapons integration and data analytics for Eglin AFB, Florida, and its mission partners.

Parsons Awarded Prime Position on Potential Multi-Billion Dollar EWAAC Contract

CENTREVILLE, Va., Sept. 13, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that a new International Standards Organization (ISO) Standard and Guidance Document for Mine Closure and Reclamation Management has been internationally approved. Parsons is a leader in the development of these first-of-their kind standards, which will be published in October.

Parsons Leads Mining Industry, Driving the New ISO Mine Closure and Reclamation Standard

CENTREVILLE, Va., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Morgan Stanley Virtual 9th Annual Laguna Conference. Carey Smith, President and CEO, and George Ball, CFO, will participate in a fireside chat question and answer session on Tuesday, September 14, 2021, at approximately 4:30 p.m. Eastern Time.

Parsons to Present at the Morgan Stanley Virtual 9th Annual Laguna Conference

CENTREVILLE, Va., Aug. 19, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by Lusail Real Estate Development Company (LREDC) to provide project management, construction management and site supervision consultancy services for infrastructure, utilities, and landscape projects in Lusail City through a $39 million, three-year contract.

Parsons Awarded Three-Year, $39 Million Contract by Lusail Real Estate Development Company

Parsons Corp's (NYSE:PSN) disappointing second-quarter results and unexpected guidance reduction raise concerns around the execution of the company's margin and M&A integration strategies, according to BofA Securities. The Parsons Analyst: Ronald Epstein downgraded the rating for Parsons from Neutral to Underperform, while reducing the price target from $45 to $35.

BofA Downgrades Parsons On Execution Uncertainties

CENTREVILLE, Va., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that its Board of Directors has authorized the repurchase of up to $100 million of the company's common stock. The repurchase program permits the company to acquire shares, in the open market, in privately negotiated transactions or otherwise.

Parsons' Board of Directors Authorizes Stock Repurchase Program

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Parsons Corporation (PSN) CEO Carey Smith on Q2 2021 Results - Earnings Call Transcript

Parsons Corp (NYSE: PSN) has won a $28 million multiple-award contract to support the networks division (Code 55100) at the Naval Warfare Center, Pacific (NIWC Pacific) in engineering and technical services spanning naval, joint, allied, and coalition operations. The contract has a three-year base period with four one-year options for an overall potential value of $68 million.

Parsons Bags Potential $68M Multiple-Award Contract for C4ISR Architectures

CENTREVILLE, Va., Aug. 06, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a $28 million multiple-award contract to support the networks division (Code 55100) at the Naval Warfare Center, Pacific (NIWC Pacific) in engineering and technical services spanning naval, joint, allied and coalition operations. The new contract has a three-year base period with four one-year options for an overall potential value of $68 million and will provide continuing command, control, communications, computer and intelligence surveillance reconnaissance (C4ISR) systems engineering support.

Parsons Wins Potential $68 Million Multiple-Award Contract for C4ISR Architectures

Parsons (PSN) delivered earnings and revenue surprises of -37.25% and -10.37%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Q2 Earnings and Revenues Lag Estimates

Parsons Corp (NYSE: PSN) reported a second-quarter revenue decline of 10.2% year-over-year to $879.36 million, missing the consensus of $984.97 million. Sales by segments: Federal Solutions $442.67 million (-8% Y/Y) and, Critical Infrastructure $436.68 million (-12% Y/Y).

Parsons Stock Plunges On Missing Q2 Earnings Estimates, Lowered FY21 Outlook

Shares of Parsons Corp (NYSE:PSN) decreased 1.6% in pre-market trading after the company reported Q2 results. Quarterly Results Earnings per share decreased 34.69% year over year to $0.32, which missed the estimate of $0.51.

Parsons: Q2 Earnings Insights

Parsons Reports Second Quarter 2021 Results

On Wednesday, August 04, Parsons Corp (NYSE:PSN) will release its latest earnings report. Decipher the announcement with Benzinga's help.

Parsons Corp Earnings Preview

CENTREVILLE, Va., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a prime position on the General Services Administration‘s (GSA) multiple-award ASTRO indefinite-delivery/indefinite-quantity (ID/IQ) contract. The contract has a potential value in the multi-billions with no defined ceiling value and a 10-year ordering period.

Parsons Wins Prime Position on Potential Multi-Billion-Dollar ASTRO Contract

CENTREVILLE, Va., July 26, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) is excited to lead an industry team to design, mature, procure, integrate, operate, and maintain Air Base Air Defense (ABAD) systems across the European and African continent areas of responsibility for the U.S. Air Forces in Europe and Air Forces Africa. The new 10-year, $953 million indefinite delivery/indefinite quantity (IDIQ) effort will be performed at Ramstein Air Base, Germany.

Parsons to Lead $953M Ceiling Effort to Protect U.S. Air Force Air Bases

CENTREVILLE, Va., July 22, 2021 (GLOBE NEWSWIRE) -- Mobius Parsons Solutions (MPS) Joint Venture, a partnership between Parsons Corporation (NYSE: PSN) and Mobius Consulting, LLC, was awarded a $567 million contract by the Missile Defense Agency (MDA) for the Technical, Engineering, Advisory, and Management Support (TEAMS)–Next Systems Test Support contract. Parsons established a mentor-protégé relationship with Mobius Consulting, LLC under the Small Business Administration All Small Mentor/Protégé program. The contract has a three-year base, with one three-year option and an additional six-month option.

Parsons Partners in $567 Million Award for Missile Defense Agency Test Support

Parsons Corp (NYSE: PSN) has secured a task order award worth $26 million on the Global Application Research, Development, Engineering, and Maintenance (GARDEM) IDIQ contract from the Air Force Research Laboratory. It has a one-year base period with three option years.

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