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.

Q1 2023 Financial Highlights Record quarterly revenue of $1.2 billion, representing a 24% increase year-over-year Record quarterly organic revenue growth of 12% driven by strength in both segments Record first quarter net income increases by 24% to $26 million Record first quarter adjusted EBITDA increases by 22% to $90 million Record first quarter cash flow from operations increases $17 million from Q1 2022 Book-to-bill ratio of 1.2x on contract awards growth of 51% Increasing 2023 guidance ranges for revenue, adjusted EBITDA, and cash flow from operations CENTREVILLE, Va., May 03, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the first quarter ended March 31, 2023.

Parsons Reports Strong First Quarter 2023 Results

Parsons has recently acquired IPKeys Power Partners, which serves North American electric, water, and gas utilities by providing them with cyber and operational security. The company has been awarded multiple government contracts, which can help it to sustain its revenue growth.

Parsons: IPKeys Power's Acquisition And New Contracts Can Drive Growth

CENTREVILLE, Va., April 28, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the U.S. Space System Command (SSC) selected the company to deliver warfighting capability in advance of development of a full Medium Earth Orbit (MEO) layer, supporting the Intelligence Community's C5ISR, exercise, operations, and information services resilient missile warning and missile tracking architecture. The $55 million effort includes a six-year period of performance and is new work for Parsons.

Parsons Awarded $55 Million Contract To Prepare and Integrate Space System Command's Medium Earth Orbit Missile Warning and Tracking Architecture

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: Should You Buy?

CENTREVILLE, Va., April 25, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation, a leader in national security and global infrastructure, announced today that the company has been listed on Forbes' Best Employers for Diversity 2023. The recognition highlights how the company has prioritized Diversity, Equity and Inclusion (DEI) by creating an inclusive workplace for all employees.

Parsons Named One Of Forbes' 2023 Best Employers for Diversity

CENTREVILLE, Va., April 25, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has added 20 Ford Lightning electric trucks to support their client, Chemours, in North Carolina. In addition to receiving a new electric fleet, the charging station design and installation will be completed in-house by Parsons' electrical engineering and delivery teams.

Parsons Delivers Electric Truck Fleet to Enhance Sustainable Practices

CENTREVILLE, Va., April 24, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today published its 2023 Environmental, Social, and Governance (ESG) disclosures, detailing how the company is accelerating its climate objectives while creating the future of global infrastructure and national security. The report highlights the company's transparency and key milestones, defining how ESG underpins the company's values and drives future growth.

Parsons Highlights Transparency With Environmental, Social, and Governance (ESG) Disclosures

CENTREVILLE, Va., April 18, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's Critical Infrastructure segment has been selected by the Missouri Department of Transportation (MoDOT) as a member of the design-build team for the Bi-State Chester Bridge Design-Build project over the Mississippi River between Perryville, MO and Chester, IL to replace the existing aging and outdated truss bridge. Parsons, as a subcontractor to Ames Construction, will serve as lead designer to provide a unique 4-span, 3-tower cable stay bridge design that will minimize risk to navigation traffic on the river.

Parsons Selected for Chester Bridge Design-Build Project

Progressive Goals Represent Next Level of Company's Climate Approach Progressive Goals Represent Next Level of Company's Climate Approach

Parsons Announces Net-Zero Emissions Strategy

CENTREVILLE, Va., April 17, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will highlight innovative, integrated capabilities that advance national security mission requirements at the 38th Space Symposium on April 17-20, in Colorado Springs, Colorado. The company has delivered pioneering, operationally proven capabilities in the space domain for decades, focusing on end-to-end solutions in satellite ground control as-a-service; small satellite integration for launch; space domain awareness; assured position, navigation, and timing (PNT); and satellite operation resiliency mission areas.

Parsons To Showcase Transformative Space Capabilities at 38th Space Symposium

CENTREVILLE, Va., April 14, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it completed the previously announced acquisition of IPKeys Power Partners, Inc. for $43 million. The strategic acquisition enhances both Parsons' Federal Solutions and Critical Infrastructure segments, specifically through comprehensive cloud-based cybersecurity, software solutions that operate at the intersection of information and operational technology (IT and OT), and technologies that will help accelerate the global clean energy transition.

Parsons Completes Acquisition of IPKeys Power Partners

CENTREVILLE, Va., April 12, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) shared additional details today regarding Xator, LLC, a Parsons company's previously announced selection by the United States Department of State (DOS) to provide humanitarian support services. The $750 million ceiling value single award contract includes a one-year base period of $250 million and two one-year option periods valued at $250 million each and is new work for the company.

Parsons' Xator Awarded 3-Year $750M State Department Humanitarian Support Contract

CENTREVILLE, Va., April 06, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release first quarter 2023 financial results before the markets open on Wednesday, May 3, 2023. 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 First Quarter 2023 Financial Results on May 3, 2023

Parsons Corp. PSN, +0.93% said Thursday it has won a contract from the Federal Aviation Administration for technical support with a ceiling of $1.8 billion. The Centreville, Va.

Parsons wins FAA contract for up to $1.8 billion

CENTREVILLE, Va., April 06, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded the recompete Technical Support Services Contract 5 by the Federal Aviation Administration (FAA). The $1.8 billion ceiling value contract will support the FAA's Aviation System Capital Investment Plan (CIP) and includes a base period of four years and two three-year option periods.

Parsons Awarded Federal Aviation Administration Contract With $1.8 Billion Ceiling

CENTREVILLE, Va., April 05, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) received its fourth Nunn-Perry Award from the Department of Defense (DOD) Mentor Protégé Program for demonstrating excellence in teamwork with KODA Technologies to support the warfighter by delivering capabilities across major defense programs. The pair was recognized for their work to support the Missile Defense Agency (MDA) at the DOD Mentor Protégé Summit, held on March 30 in Orlando, Florida.

Parsons Awarded Fourth Nunn-Perry Award for DoD Mentor-Protégé Program

CENTREVILLE, Va., April 05, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) is rolling out the first delivery of 13 total Recovery of Airbase Denied by Ordnance (RADBO) systems, plus an additional three ZEUS® laser neutralization systems, to the U.S. Air Force. The delivery is part of the company's 6-year, $51 million contract awarded in 2020.

Parsons Delivers First RADBO System to U.S. Air Force

CENTREVILLE, Va., March 31, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the United States Army Corps of Engineers (USACE) Norfolk District to deliver a new Explosive Decomposition Chamber (EDC) facility at Holston Army Ammunition Plant (HSAAP) in Kingsport, Tennessee. The four-year, $164 million contract is new work for the firm.

Parsons Wins $164M Contract For Army Ammunition Plant Environmental Facility

CENTREVILLE, Va., March 30, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected for a position on a $160 million indefinite-delivery, indefinite quantity (IDIQ) multiple award contract by the United States Army Corps of Engineers (USACE) Engineering and Support Center Huntsville to modernize Department of Defense facilities and infrastructure. The contract includes a base period of two years and a 36-month option period.

Parsons Wins Position On $160M U.S. Army Corps of Engineers Contract

CENTREVILLE, Va., March 28, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) continues to advance full-spectrum cyber dominance, announcing today that it was selected to provide command, control, communications, computers, and capabilities development support services (C4CD-2.0) to United States Cyber Command (USCYBERCOM). The $94 million cost-plus-fixed-fee contract complements work awarded to Parsons to support the agency's C4CD mission set and consists of one 12-month base period of performance with four 12-month option periods.

Parsons Awarded $94 Million Contract To Expand Full-Spectrum Military Cyberspace Operational Footprint

CENTREVILLE, Va., March 28, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Xator, LLC, a Parsons company, was recently awarded a $750 million ceiling value single award contract by a sensitive client, including a one-year base period of $250 million and two one-year option periods valued at $250 million each and is new work for the company.

Parsons' Xator, LLC Selected for $750M Contract

CENTREVILLE, Va., March 27, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a $16 million firm-fixed-price contract by the U.S. Army for collection, processing, and dissemination of high-fidelity signature data. This contract has a five-year period of performance and is new work for the firm.

Parsons Awarded $16 Million US Army Intelligence Contract

CENTREVILLE, Va., March 23, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) to accelerate clean energy technologies from the lab to market. The new $14 million ceiling-value task order contract includes a one-year base period with two option period years and was awarded under the National Nuclear Security Administration (NNSA) Enterprise Construction Management Services contract that the company was awarded in June 2022.

Parsons Accelerating Clean Energy Technology Through Department of Energy Contract Award

CENTREVILLE, Va., March 14, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has entered into a definitive agreement to acquire IPKeys Power Partners, Inc. Founded in 2014, IPKeys Power Partners enhances Parsons' critical infrastructure protection capabilities through comprehensive cloud-based cybersecurity, software solutions that operate at the intersection of information and operational technology (IT and OT), and technologies that will help accelerate the global clean energy transition.

Parsons To Acquire IPKeys Power Partners

CENTREVILLE, Va., March 13, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has again been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2023 World's Most Ethical Companies.

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