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.

CHANTILLY, Va., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it intends to offer, subject to market and other conditions, $700.0 million aggregate principal amount of convertible senior notes due 2029 (the “notes”) in a private placement. Parsons also expects to grant the initial purchasers in the offering an option to purchase, for settlement within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $100.0 million aggregate principal amount of notes.

Parsons Announces Offering Of $700.0 Million Of Convertible Senior Notes Due 2029

CHANTILLY, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded a three-year contract for new work by Soudah Development – a real estate development company owned by the Public Investment Fund (PIF) of Saudi Arabia that is driving the development of Soudah Peaks, an upcoming year-round luxury mountain tourism destination set 3,015 meters above sea level on Saudi Arabia's highest peak – for project management consultancy services. Parsons' scope includes all project management and site supervision services for the development of Soudah Peaks which is home to 6 unique development zones: Tahlal, Sahab, Sabrah, Jareen, Rijal, and Red Rock.

Soudah Development Awards Project Management Consultancy Contract to Parsons

CHANTILLY, Va., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the City of Oakland Department of Transportation selected the company to perform engineering design and cost estimates of the Embarcadero West Rail Safety and Access Improvements project. This $25 million contract includes designs for eight at-grade intersections, a multiuse trail, traffic signal plans, and represents new work for Parsons.

Parsons Wins $25 Million Transit Improvement Contract from City of Oakland

Parsons Corporation (PSN) Q4 2023 Earnings Call Transcript

The headline numbers for Parsons (PSN) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Parsons (PSN) Q4 Earnings: A Look at Key Metrics

Parsons (PSN) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to earnings of $0.51 per share a year ago.

Parsons (PSN) Q4 Earnings and Revenues Beat Estimates

Record Fourth Quarter Financial Highlights Revenue of $1.5 billion increases 35% year-over-year Organic revenue growth of 34% including at least 20% organic growth in both segments for the third consecutive quarter Net income of $45 million increases 60% Adjusted EBITDA of $128 million increases 30% year-over-year Cash flow from operations of $190 million Contract awards increase 13% year-over-year to $1.2 billion Record Fiscal Year 2023 Highlights Revenue of $5.4 billion, representing total growth of 30% and organic growth of 23% Net income of $161 million increases 67% Adjusted EBITDA of $465 million increases 32% year-over-year Cash flow from operations increases 72% to $408 million Contract awards of $6.0 billion increases 40%; trailing 12-month book-to-bill ratio of 1.1x Won 15 contracts each worth $100 million or more Establishing fiscal year 2024 guidance and increasing long-term Investor Day Targets CHANTILLY, Va., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the fourth quarter and fiscal year ended December 31, 2023.

Parsons Reports Record Results Since IPO for the Fourth Quarter and Fiscal Year 2023

Beyond analysts' top -and-bottom-line estimates for Parsons (PSN), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.

Stay Ahead of the Game With Parsons (PSN) Q4 Earnings: Wall Street's Insights on Key Metrics

CHANTILLY, Va., Feb. 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $48 million task order on the U.S. Army's Responsive Strategic Sourcing for Services (RS3) contract to support the software development lifecycle for command and control applications. The new contract will have a one-year base period with two one-year option periods and expands the company's support to the U.S. Army's RS3 mission.

Parsons Wins $48M Task Order for Army Command-and-Control System Integration

CHANTILLY, Va., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced that the company has completed a comprehensive assessment, investigation, and treatment of per- and polyfluoroalkyl substances (PFAS) for a major Fortune 100 industrial client.

Parsons Completes Holistic PFAS Investigation, Sampling and Remediation Project for Fortune 100 Industrial Leader

CHANTILLY, Va., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the United States Department of Labor (DOL) Job Corps Acquisition Services to assist with planning, management, and oversight of the Job Corps Facilities Program. Parsons is the sole awardee on the over $115 million ceiling value contract, which includes a base performance period of one year and four one-year option periods.

Parsons Wins Contract for Department of Labor Facilities Management

CHANTILLY, Va., Jan. 23, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was named on a multiple award task order contract by the United States General Services Administration (GSA) Public Building Service. The estimated $200 million Blanket Purchase Agreement (BPA) for program management and construction management (PM/CM) services is new work for the company and has a five-year ordering period.

Parsons Included on $200M GSA Construction Management Contract

CHANTILLY, Va., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been awarded a $28 million ceiling-value Battlespace Command and Control Center integration task order under the Air-Base Air-Defense (ABAD) contract. This contract includes a single base year and two option periods and represents new work for Parsons.

Parsons Continues Driving Task Orders to Air-Base Air-Defense Battlespace Contract

CHANTILLY, Va., Jan. 17, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced the launch of a new holistic cyber solution – Cyberzcape Tracker – that proactively protects and neutralizes cyber threats within critical infrastructure networks. The solution is the first commercial cyber offering of its kind that combines passive monitoring with active threat neutralization within the critical infrastructure protection industry.

Parsons Unveils Industry's First Holistic Cyber Solution for Critical Infrastructure Protection

CHANTILLY, Va., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release fourth quarter and fiscal year 2023 financial results before the markets open on Wednesday, February 14, 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 Fourth Quarter And Fiscal Year 2023 Financial Results On February 14, 2024

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CHANTILLY, Va., Jan. 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $21 million task order by the National Nuclear Security Administration (NNSA) Office of Infrastructure. The task order, awarded through the $160 million ceiling-value Enterprise Construction Management Services contract, is for design and construction management support at Los Alamos National Laboratory (LANL) and has a three-year period of performance.

Parsons Secures $21 Million Task Order to Advance NNSA Infrastructure

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Investors with an interest in Technology Services stocks have likely encountered both Parsons (PSN) and Trane Technologies (TT). But which of these two companies is the best option for those looking for undervalued stocks?

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

CHANTILLY, Va., Jan. 04, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today joins the Port of Oakland, California, Advent eModal, Mobile Programming and key stakeholders to announce the launch of the Freight Intelligent Transportation System (FITS) at the Port.

Port of Oakland, Parsons and Partners Launch New App to Improve Port Operations

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Investors interested in stocks from the Technology Services sector have probably already heard of Parsons (PSN) and Marvell Technology (MRVL). But which of these two companies is the best option for those looking for undervalued stocks?

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

CHANTILLY, Va., Dec. 19, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today a single award classified contract for continued work in support of the U.S. Government, valued at over $250 million. This award represents a critical task that the corporation and its acquired companies have been performing for over a decade and has a base period of one year with four one-year option periods.

Parsons Awarded $250 Million Classified Contract

CHANTILLY, Va., Dec. 14, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) is using artificial intelligence (AI) to combine combat-tested technologies with historically challenging Cyber and Electromagnetic Activities (CEMA) capabilities to deliver combat advantage to warfighters operating at the tactical edge.

Parsons Merges Artificial Intelligence To Deliver Combat Advantage

CHANTILLY, Va., Dec. 11, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today an award on the Camp San Luis Obispo (CSLO) Munitions Response Site (MRS) 05 by the United States Army Corps of Engineers (USACE) Los Angeles District. The company will serve as a subcontractor to the prime contractor PIKA-Insight joint venture (JV) LLC, conducting advanced geophysical classification (AGC) data collection and analysis in support of the contract. This five-year, $21 million ceiling-value contract is new work for the company.

Parsons Awarded $21 Million U.S. Army Corps of Engineers Contract For Munitions Response Geophysics

CHANTILLY, Va., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company received the Design Build Institution of America's (DBIA) 2023 National Design-Build Merit Award for their work on Texas Department of Transportation's State Highway (SH) 249. Parsons, as a subcontractor to Williams Brothers Construction Company, served as lead design engineer for the $607.5M major highway expansion project, which included the design, construction, and the potential for capital maintenance of two segments.

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