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.

Parsons (PSN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Surging Earnings Estimates Signal Upside for Parsons (PSN) Stock

COLUMBIA, Md. , Aug. 7, 2024 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and leading provider of edge computing and defensive cybersecurity solutions, is proud to announce it has been awarded a $9,588,231 fixed-price contract for the U.S. Army's Deployable Defensive Cyber Operations System – Modular version 2 (DDS-Mv2).

Sealing Technologies Awarded Contract for Deployable Defensive Cyber Operations System - Modular Version 2 (DDS-Mv2) by U.S. Army

Parsons beat expectations for the quarter and raised guidance for the year. The company also announced an acquisition designed to bolster future growth.

Why Parsons Stock Is Gaining Altitude Today

Parsons Corporation (NYSE:PSN ) Q2 2024 Earnings Conference Call July 31, 2024 8:00 AM ET Company Participants Dave Spille - Senior Vice President, Investor Relations Carey Smith - Chair, President and CEO Matt Ofilos - Chief Financial Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Tobey Sommer - Truist Securities Bert Subin - Stifel Alex Dwyer - KeyBanc Capital Andrew Wittmann - Baird Mariana Perez Mora - Bank of America Cai von Rumohr - TD Cowen Louie DiPalma - William Blair Noah Poponak - Goldman Sachs Josh Sullivan - The Benchmark Company Operator Ladies and gentlemen, thank you for standing by. Welcome to the Second Quarter of 2024 Parsons Corporation Earnings Conference Call.

Parsons Corporation (PSN) Q2 2024 Earnings Call Transcript

Although the revenue and EPS for Parsons (PSN) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Parsons (PSN) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Parsons (PSN) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.63 per share a year ago.

Parsons (PSN) Beats Q2 Earnings and Revenue Estimates

Q2 2024 Financial Highlights Record revenue of $1.7 billion increases 23% year-over-year Strong second quarter organic revenue growth of 22%, including five consecutive quarters with year-over-year organic growth above 20% Record net income of $69 million increases 60% Record adjusted EBITDA increases 27% to $150 million Record cash flow from operations increases $138 million to $161 million; record trailing twelve-month operating cash flow of $492 million increases 117% over the prior twelve-month period After Q2 2024 ended, Parsons entered into a definitive agreement to acquire BlackSignal Technologies Increasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., July 31, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the second quarter ended June 30, 2024.

Parsons Reports Record Results Since IPO for the Second Quarter of 2024

CHANTILLY, Va., July 29, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company will serve as lead designer and a subconsultant to Elevate Inglewood Partners (“EIP”), a public-private partnership consortium comprised of Plenary Americas US Holdings, Inc. (equity member), Tutor Perini Corporation (lead contractor), Woojin Industrial Systems Co., Ltd. (automated transit system operator and supplier) and Alternate Concepts, Inc. (lead operations and maintenance contractor), that has been selected as the Best Value Proposer by the City of Inglewood (the “City”) for the Inglewood Transit Connector (“ITC”) Project.

Elevate Inglewood Partners Selected as Best Value Proposer for the Inglewood Transit Connector Project

Parsons' (PSN) second-quarter 2024 earnings and revenues are expected to increase year over year.

Parsons (PSN) to Report Q2 Earnings: What's in the Offing?

CHANTILLY, Va., July 26, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company, in a joint venture with Vanir, was selected by the Sacramento County Department of Airports to provide construction management and inspection (CMI) services in support of the Sacramento International Airport (SMF) SMForward Program. The $30 million, five-year contract engages Parsons/Vanir's joint venture (PVJV) in SMF's $1.3 billion airport improvement program, which includes terminal gate expansions and landside projects to support the airport's growth and modernization.

Parsons-Vanir JV Awarded Sacramento International Airport's CMI Contract

Here is how Parsons (PSN) and Spotify (SPOT) have performed compared to their sector so far this year.

Is Parsons (PSN) Stock Outpacing Its Business Services Peers This Year?

CHANTILLY, Va., July 25, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Indiana Department of Transportation (INDOT) for continued support of the I-69 Ohio River Crossing (ORX) project. The five-year, $26 million contract was expanded to include design oversight and construction inspection services for I-69 ORX Section 3, which stretches from the Veterans Memorial Parkway to the Indiana state line near the Ohio River.

Parsons Expands Scope on Critical I-69 Ohio River Bridge Crossing Project

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.

Parsons (PSN) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

CHANTILLY, Va., July 24, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a leader in infrastructure, defense, security, transportation, and engineering is proud to announce its readiness to meet the growing demand for infrastructure deployment for global events. With a rich decades-long history of delivering complex global solutions for critical events, Parsons is uniquely positioned to provide the necessary expertise, innovative solutions, and integrated security solutions for the successful execution of large-scale events and national gatherings across North America, like the 2026 FIFA World Cup and 2028 Olympics.

Parsons Corporation: Poised to Deliver Global Events Infrastructure on Demand

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

As fellow AI stocks Palantir and Nvidia rise, Parsons stock enjoys strong demand and looks to launch a breakout of its own.

Palantir Rockets, Nvidia Rises As This AI Peer Orbits Buy Point

Parsons (PSN) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Why Parsons (PSN) Could Beat Earnings Estimates Again

CHANTILLY, Va., July 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will release second quarter 2024 financial results before the markets open on Wednesday, July 31, 2024. 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 2024 Financial Results on July 31, 2024

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Palantir just disappeared from this screen while Nvidia returned triumphant. But fellow AI stock Parsons never went away.

Palantir Vanishes, But This AI Rival Still Orbits Elite Screen

CHANTILLY, Va., June 26, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the City of Manchester, New Hampshire, to help deliver the new Cemetery Brook Drain Tunnel Project, the city's largest public works project to date.

Parsons Selected to Help Deliver Manchester's Cemetery Brook Drain Tunnel

CHANTILLY, Va., June 24, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced an expanded partnership with Technovation, a global technology and STEM education nonprofit that empowers girls worldwide to become innovative leaders and problem-solvers.

Inspiring the Next Generation: Parsons Celebrates Expanded Partnership with Technovation

CHANTILLY, Va., June 18, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) and the Niagara International Transportation Technology Coalition (NITTEC) are pleased to announce the successful launch of AllRoads, NITTEC's multi-agency, technology-enabled, integrated regional mobility management system. This smart mobility solution services the Buffalo-Niagara region in Western New York State and Southern Ontario.

News for Parsons Corp Stock (PSN)