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. 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.

Parsons Wins $26M Task Order To Enhance United States Air Force All-Domain Operations

CENTREVILLE, Va., July 22, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has won a task order award worth $26 million on the Global Application Research, Development, Engineering, and Maintenance (GARDEM) indefinite delivery/indefinite quantity (IDIQ) contract from the Air Force Research Laboratory (AFRL).

Parsons Awarded $26 Million Task Order to Enhance USAF All-Domain Operations

CENTREVILLE, Va., July 19, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has named Susan Balaguer as the company's chief human resources officer (CHRO), effective immediately. Balaguer will lead enterprise-wide human resources functions, including talent acquisition, talent mobility, compensation and benefits, business unit partnership, and employee engagement.

Parsons Names Susan Balaguer as Chief Human Resources Officer

Parsons Corp (NYSE: PSN) has been awarded a seven-year contract valued up to ~$2.24 billion by the Missile Defense Agency (MDA) for Technical, Engineering, Advisory, and Management Support (TEAMS)–Next Systems Engineering. The company will provide engineering, analysis, and management support to develop integrated and layered missile defense systems.

Parsons Secures A $2.2B Missile Defense Agency Contract

Effort continues four decades of Parsons-MDA partnership Effort continues four decades of Parsons-MDA partnership

Parsons' Wins $2.2 Billion Missile Defense Agency Contract

CENTREVILLE, Va., July 12, 2021 (GLOBE NEWSWIRE) -- The Department of Energy's (DOE) Salt Waste Processing Facility (SWPF) – a first-of-a-kind, one-of-a-kind facility that was designed, built, and is being operated by Parsons Corporation (NYSE: PSN) – has successfully processed more than 1 million gallons of radioactive nuclear waste. SWPF began processing the legacy radioactive material in October 2020.

Parsons' SWPF Surpasses 1 Million Gallons of Processed Nuclear Waste

CENTREVILLE, Va., July 06, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it completed the previously announced acquisition of BlackHorse Solutions, Inc., in an accretive deal valued at $203 million. The strategic acquisition expands Parsons' capabilities and products in next-generation military, intelligence, and space operations, specifically in cyber, electronic warfare, and information dominance.

Parsons Completes Acquisition of BlackHorse Solutions, Inc.

CENTREVILLE, Va., June 30, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release second quarter 2021 financial results before the markets open on Wednesday, August 4, 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.

Parsons to Announce Second Quarter 2021 Financial Results on August 4, 2021

CENTREVILLE, Va., June 18, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's Coffee Creek Fish Barrier Removal project received a National Recognition Award from the American Council of Engineering Companies (ACEC) as part of the 2021 Engineering Excellence Awards.

Parsons Recognized for Engineering Excellence in Fish Barrier Removal Project

CENTREVILLE, Va., June 16, 2021 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) delivered the secondary payload on the recent SBIRS GEO5 Altas V launch as part of the existing $100 million Launch Manifest Systems Integrator (LMSI) contract. Awarded in 2019, LMSI is designed to expand access to space and maximize the orbit delivery potential of each launch. The company designs, develops, tests, and integrates multi-manifest satellite vehicles on U.S. Government space launch systems.

News for Parsons Corp Stock (PSN)