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.

Sidus Space

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--Sidus Space, Inc. (NASDAQ:SIDU), a Space and Defense-as-a-Service satellite company focused on mission-critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, was awarded a new subcontract to produce hardware in support of Parsons Corporation's (NYSE: PSN) Launch Manifest Systems Integration (LMSI) contract. Under the terms of the agreement, Sidus Spa.

Sidus Space Awarded Subcontract by Parsons for US Space Force Launch Manifest Systems Integration (LMSI) Support

CENTREVILLE, Va., July 19, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today an award on the Repairs, Operations, Maintenance, and Engineering (ROME) contract team by the National Aeronautics and Space Administration (NASA), to which it is a major subcontractor. Arctic Slope Regional Corporation (ASRC) Federal Facilities Logistics, LLC will provide services at multiple NASA facilities through this indefinite-delivery, indefinite-quantity (IDIQ) contract with a maximum ordering value of $320 million over five years. Parsons will provide facilities construction management and engineering and technical services in support of ASRC's IDIQ contract with NASA with an estimated value of up to $130 million.

Parsons Awarded New NASA Infrastructure Contract

CENTREVILLE, Va., July 12, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a task order by the Defense Threat Reduction Agency (DTRA) under the Assessments, Exercises, Modeling, and Simulation Support indefinite-delivery, indefinite-quantity multiple award task order contract. The $170 million ceiling value task order to provide continued support to the agency consists of a one-year base period and four one-year option periods under the company's Federal Solutions segment and includes existing and new work for the company.

Parsons Awarded $170M Defense Threat Reduction Agency Task Order

CENTREVILLE, Va., July 10, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release second quarter 2023 financial results before the markets open on Wednesday, August 2, 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 Second Quarter 2023 Financial Results on August 2, 2023

CENTREVILLE, Va., June 29, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced that the company will serve as lead designer to the Skanska Halmar JFK Joint Venture in support of a $1.24 billion design and reconstruction of John F.

Skanska-led JV with Halmar Awarded $1.24B Contract to Design and Reconstruct JFK International Airport's Central Terminal Area Roadways, Utilities and Ground Transportation Center

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CENTREVILLE, Va., June 12, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by Bay Area Rapid Transit (BART) to continue delivering general engineering services (GES) to the transit agency through 2028. The five-year, $40 million task order contract is the fourth consecutive GES contract Parsons has won with BART and may include projects such as strategic planning to convert portions of BART's non-revenue fleet to zero-emission vehicles (ZEVs), support for capital programs, track and civil design, traction power engineering support, structural and geotechnical design, and fiber optic upgrades, among others.

Parsons Wins $40 Million Contract to Deliver Engineering Expertise to Bay Area Rapid Transit

CENTREVILLE, Va., June 01, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has seamlessly integrated artificial intelligence (AI) across its operations, markets and solutions, and corporate functions to enhance efficiency, accuracy, decision-making, and accelerate customer solutions. This embedded AI approach empowers Parsons to deliver innovative business solutions by automating complex processes, analyzing critical data, and enabling predictive modeling for project management, technology and product development, workforce planning, business capture enhancement, and resource allocation; ensuring that the company is delivering AI-empowered solutions from the lab to the mission at scale.

Artificial Intelligence Accelerating Growth & Efficiency Across Parsons

CENTREVILLE, Va., June 01, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at Stifel 2023 Cross Sector Insight Conference. Carey Smith, chair, president, and chief executive officer, will participate in a fireside chat question and answer session on Tuesday, June 6, 2023, at approximately 2:25 p.m. Eastern Time.

Parsons to Present at the Stifel 2023 Cross Sector Insight Conference

CENTREVILLE, Va., May 31, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today a new strategic partnership with Vizsafe that enhances the company's capabilities to provide organizations with mission critical safety and security applications designed to keep humans healthy and safe. Parsons is providing safety, security, and biosurveillance services for government and commercial customers globally and will utilize Vizsafe's patented Geoaware®, an intelligence and safety management software platform, to optimize operational effectiveness.

Parsons Partners with Vizsafe to Enhance Public Safety and Security Solutions

CENTREVILLE, Va., May 22, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today the additions of Andrew Weber to the company's Federal Solutions Strategic Advisory Board and Richard Varos to the Critical Infrastructure Strategic Advisory Board. Weber brings 30 years of United States government service, including five years as Assistant Secretary of Defense for Nuclear, Chemical, and Biological Defense Programs. Varos is a former managing partner at Kyndryl, the 2021 spinoff of IBM's infrastructure services business, following a 30-year career at IBM.

Andrew Weber and Richard Varos Join Parsons Strategic Advisory Boards

CENTREVILLE, Va., May 05, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at Goldman Sachs Industrials and Materials 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, May 10, 2023, at approximately 8:00 a.m. Eastern Time.

Parsons to Present at Goldman Sachs Industrials and Materials Conference

Parsons Corporation (NYSE:PSN ) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET Company Participants Dave Spille - SVP, IR Carey Smith - Chair, President & CEO Matt Ofilos - CFO Conference Call Participants Greg Konrad - Jefferies Bert Subin - Stifel Tobey Sommer - Truist Securities Andy Wittmann - Baird Josh Sullivan - The Benchmark Company Cai von Rumohr - Cowen Louie DiPalma - William Blair Noah Poponak - Goldman Sachs Operator Good morning, and welcome to the Parsons Corporation First Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode.

Parsons Corporation (PSN) Q1 2023 Earnings Call Transcript

Parsons (PSN) came out with quarterly earnings of $0.43 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.40 per share a year ago.

Parsons (PSN) Q1 Earnings Meet Estimates

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.

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