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.

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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.

Parsons and the Niagara International Transportation Technology Coalition Celebrate Bi-National Project Milestone

RESTON, Va. , June 13, 2024 /PRNewswire/ -- Plus3 IT Systems, LLC (Plus3 IT) is excited to announce its role providing cloud expertise as a subcontractor to Parsons Corporation (NYSE: PSN) on the National Oceanic and Atmospheric Administration, Traffic Coordination System for Space, or "TraCSS" contract.

PLUS3 IT SYSTEMS TO EXPAND SPACE MISSION SUPPORT CAPABILITIES ON THE NOAA TRACSS PROGRAM

CHANTILLY, Va., June 06, 2024 (GLOBE NEWSWIRE) -- Parsons announced today that the company had received the Yukon Regional Business Sustainability Award for its Faro Mine Remediation project in Yukon, Canada.

Parsons Receives Sustainability Award from Yukon Government

CHANTILLY, Va., May 28, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Sound Transit's Federal Way Link Extension (FWLE) project has earned an Envision Platinum Award from the Institute for Sustainable Infrastructure (ISI). This award is the highest possible Envision award level for achievements related to sustainable transportation, mobility and access, stakeholder engagement, infrastructure integration, and multiple other areas of sustainability. FWLE is only the seventh transit project in the U.S. to earn Envision Platinum.

Federal Way Link Extension (FWLE) Project Receives Envision Platinum Sustainability Award

CHANTILLY, Va., May 23, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN), a leader in national security and global infrastructure, announced today that the company has been listed on Forbes' Best Companies for New Grads 2024 list. The recognition highlights how the company is a destination employer for young professionals and top talent.

Parsons Named One of Forbes' 2024 Best Employers for New Grads

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CHANTILLY, Va., May 22, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was one of 15 lead consultants selected by Los Angeles World Airports (LAWA) for a Multiple Award Task Order Contract (MATOC) to perform on-call, task order-based, professional services for LAWA's Capital Improvement Program. The Program Services MATOC represents nearly $1 billion in contracting value over a term of five years and will serve both Los Angeles International Airport (LAX) and Van Nuys Airport (VNY).

Parsons Selected For LAWA's Capital Improvement Program MATOC

CHANTILLY, Va., May 13, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today celebrates Infrastructure Week, an annual event focused on raising awareness of the importance of infrastructure. As a critical element of the economy, infrastructure plays a vital role in connecting people, communities, and businesses around the world.

Parsons Celebrates 80 Years of Infrastructure Excellence

CHANTILLY, Va., May 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by VIA Metropolitan Transit Authority (VIA) to complete final design of the Advanced Rapid Transit (ART) program for the VIA Rapid Green Line in San Antonio, Texas. The $20 million, five-year contract represents new work for the company.

Parsons To Design Advanced Rapid Transit System in San Antonio

Company's East Colfax Avenue Bus Rapid Transit Project Recognized for Design Excellence Company's East Colfax Avenue Bus Rapid Transit Project Recognized for Design Excellence

Parsons Receives Innovation Transportation Solutions Award from WTS Colorado

COLUMBIA, Md. , May 7, 2024 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Company (NYSE: PSN) ramps up production of its SN 4500.

SealingTech Powers Up Missions with Its SN 4500

Parsons Corporation (NYSE:PSN ) Q1 2024 Earnings Conference Call May 1, 2024 8:00 AM ET Company Participants Dave Spille - Senior Vice President of Investor Relations Carey Smith - Chairman, President & Chief Executive Officer Matt Ofilos - Chief Financial Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Bert Subin - Stifel Andrew Wittmann - Baird Alex Dwyer - KeyBanc Capital Markets Mariana Perez Mora - Bank of America Josh Sullivan - The Benchmark Company Louie DiPalma - William Blair Operator Good day and thank you for standing by. Welcome to First Quarter 2024 Parsons Corporation Earnings Conference Call.

Parsons Corporation (PSN) Q1 2024 Earnings Call Transcript

The headline numbers for Parsons (PSN) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Parsons (PSN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Parsons (PSN) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.43 per share a year ago.

Parsons (PSN) Q1 Earnings and Revenues Beat Estimates

Q1 2024 Financial Highlights Record revenue of $1.5 billion increases 31% year-over-year Record first quarter organic revenue growth of 29%, including four consecutive quarters with organic growth above 20% Net loss of $107 million due to a $214 million pre-tax charge related to a partial repurchase of 2025 convertible notes above par due to stock price appreciation Adjusted EBITDA increases by 56% to $141 million Strong book-to-bill ratio of 1.4x on record contract awards with 51% growth Record total backlog increases 8% to $9.0 billion Increasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., May 01, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2024.

News for Parsons Corp Stock (PSN)