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 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

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.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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.

Alpha Metallurgical Resources

Aspen Technology Inc

Corcept Therapeutics

e.l.f. Beauty

Palomar

World Wrestling Entertainment

The markets have delivered one of the worst years in the past several decades. As a result, investors are left searching for under-the-radar stocks that have been passed over due to all the bad news.

7 Under-the-Radar Stocks With 100% Upside Potential

CENTREVILLE, Va., Oct. 06, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release third quarter 2022 financial results before the markets open on Wednesday, November 2, 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 Third Quarter 2022 Financial Results on November 2, 2022

Automatic Data Processing

DecisionPoint Systems

ExlService Holdings

Qualys

Switch

Wolfspeed

If you love tech stocks, this hasn't been your year. But that doesn't mean you shouldn't be looking at the top tech stocks to buy for the fourth quarter.

7 Top Tech Stocks to Buy Heading Into Q4 2022

CENTREVILLE, Va., Sept. 28, 2022 (GLOBE NEWSWIRE) -- The Missile Defense Agency (MDA) has selected Parsons Corporation (NYSE: PSN) to continue engineering advisory and assistance support for planning, design, and construction through a $104 million ceiling-value cost plus fixed fee (CPFF) Technical, Engineering, Advisory, and Management Support (TEAMS)- Next Facilities Lifecycle Management contract. The contract contains a three-year base period with two option period years, and one six-month option.

Parsons Continues Delivering Engineering Support for the Missile Defense Agency's Modern, Sustainable Infrastructure Under $104 Million Contract

CENTREVILLE, Va., Sept. 20, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) was selected by U.S. Army Combat Capabilities Development Command, Chemical Biological Center (DEVCOM CBC) for an award on its Scientific, Technical Engineering, and Program Support Services (STEPSS) indefinite delivery, indefinite quantity (IDIQ) contract. The 10-year IDIQ, a multiple award contract with a program ceiling value of $869 million, will support the U.S. Army by providing acquisition life-cycle chemical and biological defense research, development, test, and evaluation support.

Parsons Supporting U.S. Army Chemical and Biological Defense

CENTREVILLE, Va., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will highlight industry-leading intelligent transportation solutions (ITS) that are helping cities around the world move safer, faster, and smarter during ITS World Congress on Sept. 18-22, 2022, in Los Angeles.

Parsons Showcasing AI-Enabled Traffic Management at ITS World Congress

Sidus Space

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, is proud to announce that it will continue producing hardware to support Parsons Corporation's (NYSE: PSN) Tranche 1 (T1) launch. As part of this arrangement, Sidus Space will fabricate flight cables for Parsons evolved secondary payload adapter (ESPA) ring on T

Sidus Space Will Continue Producing Hardware That Will Support Parsons Tranche 1 Launch

The 15th Annual TAPS Golf Outing Occurred on Sept. 8, 2022 The 15th Annual TAPS Golf Outing Occurred on Sept. 8, 2022

Parsons and TAPS Continue Partnership in Support of Military Families

CENTREVILLE, Va., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been selected to continue providing enterprise construction management services (ECMS) to the Department of Energy (DOE) and National Nuclear Security Administration (NNSA) through a $160 million ceiling-value blanket purchase agreement (BPA) contract. The BPA contains a one-year base period with four option period years and is the company's third consecutive ECMS contract supporting the organization's national defense and security missions.

Parsons Team Awarded $160 Million Contract To Support DOE And NNSA Missions

CENTREVILLE, Va., Sept. 08, 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 Morgan Stanley 10th Annual Laguna Conference in Dana Point, California on Wednesday, September 14, 2022, at approximately 1:25 p.m. Pacific Time (4:25 p.m. Eastern Time).

Parsons to Present at The Morgan Stanley 10th Annual Laguna Conference

Parsons (NYSE: PSN ) stock offers broad exposure to a number of high-conviction niche tech markets. There are a number of possible angles that should appeal to Parsons' investors, from satellite solutions to missile defense, and possibly even quantum computing.

Parsons Stock Is a Future-Facing, High-Powered Computing Investment

Palantir Technologies

PSN vs. PLTR: Which Stock Is the Better Value Option?

Flex

Huntington Ingalls Industries

NIKE

Want the best stocks to buy? Check out this portfolio that's among the elite minority of actively run funds outscoring the broad market — by a lot.

Stocks That Help This Invesco Fund Outperform

MCLEAN, Va. , Aug. 22, 2022 /PRNewswire/ -- SpaceLink,  a company that provides secure data from any orbit, any time, announced it was selected by the Defense Advanced Research Projects Agency (DARPA) Strategic Technology Office (STO) for a contract award.

DARPA Selects SpaceLink to Participate in its Program to Connect the Proliferated Space Domain

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

Blucora

PDF Solutions

As they lagged expectations, tech stocks have been one of the biggest stories of the stock market for the last few months. But have you noticed that tech is starting to finally turn around?

7 A-Rated Tech Stocks to Buy and Hold Now

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

Paymentus Holdings

PSN vs. PAY: Which Stock Is the Better Value Option?

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

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.

News for Parsons Corp Stock (PSN)