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

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Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

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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.

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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., Jan. 24, 2022 (GLOBE NEWSWIRE) -- The board of directors of Parsons Corporation (NYSE: PSN) has unanimously elected Carey A. Smith as chairwoman, effective April 14, 2022. Smith will serve as chairwoman, president, and chief executive officer. She succeeds Charles “Chuck” Harrington, who currently serves as executive chairman and will retire when his current term on the board of directors expires on April 14, 2022, following 40 years with the company. The board also elected Steven F. Leer to serve as lead independent director effective April 14, 2022, succeeding James “Jim” McGovern, who has served as a director since joining the Parsons' board in 2005 and currently serves as lead independent director.

Parsons Corporation Board Unanimously Elects Carey Smith as Chairwoman

CENTREVILLE, Va., Jan. 19, 2022 (GLOBE NEWSWIRE) -- In December 2021, Parsons Corporation (NYSE: PSN) was awarded an $11 million sole-source contract to plan, standup, and demonstrate a prototype ground operations center (GOC) in support of Defense Advanced Research Project Agency's (DARPA) Blackjack flight demonstration activities. The new contract represents Parsons continued commitment to delivering innovative solutions for customers across the space domain and is a follow-on to a phase II small business innovation research (SBIR) contract won by Braxton Technologies, LLC prior to Parsons' 2020 acquisition of the software company.

DARPA Selects Parsons to Prototype Ground Operations for Blackjack Mission

CENTREVILLE, Va., Jan. 18, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release fourth quarter and fiscal year 2021 financial results before the markets open on Wednesday, February 23, 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 Fourth Quarter and Fiscal Year 2021 Financial Results on February 23, 2022

JetBlue Airways

Parsons Corp (NYSE: PSN) has secured a $12.6 million program management contract from JetBlue Airways Corp (NASDAQ: JBLU) to deliver program management services for the development of Terminal 5 at Fort Lauderdale/Hollywood International Airport (FLL). This contract will assist JetBlue in implementing the design and building of a new five-gate, $300 million passenger terminal at FLL.

Parsons Secures $12M Contract From JetBlue To Support Terminal Development

CENTREVILLE, Va., Jan. 10, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a contract by new client JetBlue Airways to deliver program management services for the development of Terminal 5 at Fort Lauderdale/Hollywood International Airport (FLL). JetBlue Airways has been selected to manage the construction of Terminal 5 on behalf of the Broward County Aviation Department. The $12.6M program management contract will assist JetBlue in implementing the design and building of a new five-gate, $300M passenger terminal at FLL.

Parsons Awarded $12M Contract to Support Terminal Development for JetBlue

CENTREVILLE, Va., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has been awarded a $38 million task order on the U.S. Army's Responsive Strategic Sourcing for Services contract for tactical applications core infrastructure, utilities, and integration. The new contract will have a one-year base period with three one-year option periods.

U.S. Army Awards Parsons $38 Million Task Order for Tactical Applications

William Blair analyst Louie DiPalma downgraded Parsons Corp (NYSE:PSN) to Market Perform from Outperform without a price target.  DiPalma mentions that the company's organic growth should rebound in 2022, but not as much as consensus estimates imply.

William Blair Downgrades Parsons Citing 2022 Revenue Outlook Risk

CENTREVILLE, Va., Dec. 07, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's Investor Relations (IR) organization was recognized for excellence as part of Institutional Investor's 2022 All-America Executive Team annual survey.

Parsons' Leadership Recognized for Investor Relations Excellence

CENTREVILLE, Va., Dec. 06, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company is implementing visual and thermal drone-based sensors to perform roof inspections at U.S. Department of Labor (DOL) Job Corps facilities. Utilizing drones will provide comprehensive roof condition assessments, allowing DOL to more efficiently complete maintenance and repairs.

Parsons Leverages Advanced Drone Technology to Improve Department of Labor Facility Management

CENTREVILLE, Va., Dec. 02, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's work on New York City's RFK Bridge – the Harlem River Drive North Connector Ramp – was recognized by the American Council of Engineering Companies New York (ACEC NY) with a Diamond Award as part of the 2021 New York Engineering Excellence Awards.

Parsons Recognized for Engineering Excellence on Robert F. Kennedy Bridge

CENTREVILLE, Va., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was recognized with a Gold Award for Project Development by the Canadian Council for Public-Private Partnerships. The award honors outstanding achievements in public-private partnerships (P3s) for Parsons' work as part of the Valley Line West Light Rail Train (LRT) team.

Parsons Recognized for Project Development Excellence by the Canadian Council for Public-Private Partnerships

The company is ready to “Build Back Smarter” The company is ready to “Build Back Smarter”

Parsons Applauds Bipartisan Infrastructure Deal

CENTREVILLE, Va., Nov. 29, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Credit Suisse 9th Annual Global Industrials Conference. Carey Smith, President and CEO will participate in a fireside chat question and answer session on Thursday, December 2, 2021, at approximately 2:50 p.m. Eastern Time.

Parsons to Present at the Credit Suisse 9th Annual Global Industrials Conference

CENTREVILLE, Va., Nov. 15, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Baird 4th Annual Government & Defense Conference. Carey Smith, President and CEO will participate in a fireside chat question and answer session on Wednesday, November 17, 2021, at approximately 10:10 a.m. Eastern Time.

Parsons to Present at the Baird 4th Annual Government & Defense Conference

CENTREVILLE, Va., Nov. 10, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today the receipt of three individual awards recognizing its culture of support and empowerment to the military veteran community and its position as an excellent company for veteran employment.

Parsons Again Recognized as Top Military & Veteran Employer

CENTREVILLE, Va., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced the award of a potential five-year, $49 million indefinite-delivery, indefinite-quantity (IDIQ) multiple award task order contract (MATOC) by the United States Army Corps of Engineers (USACE) Sacramento District.

Parsons Wins $49 Million IDIQ Contract for Army Environmental Remediation

Parsons Corporation's (PSN) CEO Carey Smith on Q3 2021 Results - Earnings Call Transcript

Parsons (PSN) delivered earnings and revenue surprises of -12.00% and 0.10%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Q3 Earnings Lag Estimates

Parsons Reports Third Quarter 2021 Results

Parsons (PSN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Parsons (PSN) Q3 Earnings Expected to Decline

CENTREVILLE, Va., Oct. 21, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced the award of a potential ten-year, $1.1 billion multiple award task order contract (MATOC) by the United States Army Corps of Engineers (USACE). The new award will support USACE Huntsville in meeting environmental and munitions response challenges, enabling lands and waters to be safely and efficiently used for their intended purposes – whether wildlife refuge, military use, or community development.

Parsons Supporting $1.1 Billion Army Munitions Identification and Recovery Effort

CENTREVILLE, Va., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the Salt Waste Processing Facility (SWPF) designed, built, and now operated by the company for the Department of Energy (DOE) was recognized by the Project Management Institute as one of three finalists for 2021 project of the year.

Parsons' Salt Waste Processing Facility Recognized for Project Management Excellence

CENTREVILLE, Va., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), together with the Indiana Department of Transportation (INDOT) and Kentucky Transportation Cabinet (KYTC), today announced the completion of the environmental study for the I-69 Ohio River Crossing (I-69 ORX). Parsons has supported the study since the project's inception in 2017, and this milestone will allow construction to begin in the spring of 2022.

Parsons Plays Key Role in Advancing Environmental Study for New Ohio River Crossing

Parsons Corp (NYSE: PSN) and Colas UK Projects, operating as Parsons-Colas UKP JV, have secured a five-year, $249 million multiple-award IDIQ contract from the Naval Facilities Engineering Systems Command (NAVFAC) Far East.  The new award will support projects to improve resilience at various locations on the U.S. Navy Support Facility Diego Garcia (NSFDG), British Indian Ocean Territory (B.I.O.T.

Parsons Secures Position On $249M Ceiling Naval Facilities Modernization Contract

CENTREVILLE, Va., Oct. 12, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release third-quarter 2021 financial results before the markets open on Wednesday, November 3, 2021. 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.

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