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., 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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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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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.

Parsons Wins 2023 National Design-Build Merit Award

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CHANTILLY, Va., Dec. 04, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that S&P Dow Jones Indices (a division of S&P Global) and MSCI recently changed the company's Global Industry Classifications Standard (GICS®) Code to Research and Consulting Services acknowledging the company's status as a leading professional services provider.

S&P Dow Jones and MSCI Change Parsons' GICS Code to Research and Consulting Services

CHANTILLY, Va., Nov. 30, 2023 (GLOBE NEWSWIRE) -- The Human Rights Campaign Foundation has recognized Parsons Corporation (NYSE: PSN) with a score of 100 on their 2023 - 2024 Corporate Equality Index (CEI) for active support and inclusion of the lesbian, gay, bisexual, transgender, queer (LGBTQ+) community.

Parsons Earns Top Score in Human Rights Campaign Foundation's Corporate Equality Index

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CHANTILLY, Va., Nov. 30, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the Raymond James TMT & Consumer Conference. Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session on Tuesday, December 5, 2023, at approximately 9:10 a.m. Eastern Time.

Parsons to Present at the Raymond James TMT & Consumer Conference

CHANTILLY, Va., Nov. 27, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at the UBS Industrials Summit investor conference. Carey Smith, chair, president, and chief executive officer, and Matt Ofilos, chief financial officer, will participate in a fireside chat question and answer session on Wednesday, November 29, 2023, at approximately 9:30 a.m. Eastern Time.

Parsons to Present at the UBS Industrials Summit

COLUMBIA, Md. , Nov. 16, 2023 /PRNewswire/ -- InfiniteTactics and Sealing Technologies, a Parsons Company (NYSE: PSN) (SealingTech), both veteran-founded businesses renowned for their innovative cybersecurity approaches to high-performance computing, have partnered together and proudly announce the launch of the Mobile Tactical Edge HPC.

InfiniteTactics, together with Sealing Technologies partner to introduce the Mobile Tactical Edge High-Performance Computing Solution for Defense and Law Enforcement

CHANTILLY, Va., Nov. 13, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was included on a multiple award indefinite-delivery, indefinite-quantity task order contract for the Puerto Rico Power System Stabilization Project by the United States Army Corps of Engineers (USACE) Savannah District. The $5 billion ceiling value contract includes a base performance period of five years and represents new work for the company.

Parsons Included on $5 Billion Contract to Revitalize Puerto Rico's Power System

Honda to pilot advanced prototype of road condition management system with three tech partners and Ohio Department of Transportation (ODOT) ODOT invests $700,000 for data analysis and evaluation in project led by Honda and partners i-Probe Inc., The University of Cincinnati, and Parsons Corporation Vehicle-generated data could make roadways safer by helping maintenance crews more quickly address roadway damage COLUMBUS, Ohio , Nov. 9, 2023 /PRNewswire/ -- DriveOhio, the smart mobility hub of The Ohio Department of Transportation (ODOT), has awarded over $700,000 for a two-year research project led by Honda and three technology partners – i-Probe Inc., The University of Cincinnati, and Parsons (NYSE: PSN). The partners will develop a road condition management system that will use vehicle-generated data to identify and report hazardous road conditions in Ohio.

Ohio Department of Transportation Taps Honda to Lead Two-year Project to Advance Road Condition Management System

CHANTILLY, Va., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been selected by the United States Cyber Command (CYBERCOM) to provide services for the J9 PEO Cyber and Joint Cyber Warfighting Architecture Integration Office. The $91 million cost plus fixed-fee prime contract includes a 12-month base year and four 12-month option years including the Federal Acquisition Regulation (FAR) 52.217-8, Option to Extend Services, and is new work for the company.

Parsons Awarded $91 Million Cyber Capabilities Contract

Parsons and Miovision delivered the first connected vehicle technology for the city Parsons and Miovision delivered the first connected vehicle technology for the city

Parsons' AI Technology Recognized in City of Chicago's Smart 50 Award

CHANTILLY, Va., Nov. 03, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) Chair, President, and Chief Executive Officer, Carey Smith, was recognized as “Executive of the Year” this week at the 21st Annual Greater Washington Government Contractor Awards, where she won the “Executive of the Year, Over $300 Million” category. The annual event, presented by the Northern Virginia Chamber of Commerce and the Professional Services Council, is the premier event honoring the leadership, innovation, and commitment to excellence of the people and businesses of the government contracting community.

Parsons' Carey Smith Named Government Contracting Executive of the Year

Parsons Corporation (NYSE:PSN ) Q3 2023 Earnings Conference Call November 1, 2023 8:00 AM ET Company Participants Dave Spille - Senior Vice President of Investor Relations Carey Smith - Chair, President and Chief Executive Officer Matt Ofilos - Chief Financial Officer Conference Call Participants Bert Subin - Stifel Tobey Sommer - Truist Cai von Rumohr - TD Cowen Louie DiPalma - William Blair Josh Sullivan - The Benchmark Company Noah Poponak - Goldman Sachs Sheila Kahyaoglu - Jefferies Mariana Perez Mora - Bank of America Operator Good morning, and thank you for standing by. Welcome to the Third Quarter 2023 Parsons Corporation Earnings Conference Call.

Parsons Corporation (PSN) Q3 2023 Earnings Call Transcript

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

News for Parsons Corp Stock (PSN)