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.

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.

Parsons Honored As One Of The World's Most Ethical Companies For The 14th Consecutive Year

CENTREVILLE, Va., March 09, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it will host its Investor Day at the New York Stock Exchange in New York City on Wednesday, March 15, 2023, at 9:00 am ET. Parsons' executives will present the company's vision, strategy, key business initiatives, and financial goals.

Parsons 2023 Investor Day to Highlight Growth Strategy and Strong End Market Opportunity

Company was awarded a new $18 million task order for active cruise missile and counter-unmanned aircraft systems air defense Company was awarded a new $18 million task order for active cruise missile and counter-unmanned aircraft systems air defense

Parsons Transforming the Air-Base Air-Defense Battlespace

CENTREVILLE, Va., March 08, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today a new global strategic partnership with Microsoft to help organizations around the world enhance their digital transformation and cybersecurity capabilities. The partnership will build upon existing collaboration between the two companies, combining the power of Microsoft's Azure cloud and artificial intelligence (AI) technologies with Parsons' expertise in the national security and global infrastructure markets, unlocking efficiencies, improving security, and opening doors to innovation as both companies work to upgrade society's infrastructure.

Parsons Establishes Strategic Partnership with Microsoft, Accelerating the Digital Transformation of Global Infrastructure

CENTREVILLE, Va., March 06, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company will provide Contra Costa Water District (CCWD) Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion (LVE) located in the San Francisco Bay Area. As a major subconsultant to GEI Consultants Inc, the company will deliver an updated project management plan, cost estimating, budget and funding tracking, risk management, project reporting, technical reviews, O&M assistance, and contract management assistance.

Parsons Awarded Contract to Deliver Technology-Enabled Capital Project Management Services for Phase 2 Los Vaqueros Reservoir Expansion

CENTREVILLE, Va., Feb. 23, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by Santa Clara Valley Water District (Valley Water) to provide construction management services for the Rinconada Water Treatment Plan Reliability Improvement Project, Phases 3-6. The $30 million contract includes the construction management of new facilities, including raw water ozonation, chemical facility upgrades, dual media filtration, and a chlorine contact basin.

Parsons Awarded $30 Million to Improve Water Quality, Seismic Stability, and Safety for Valley Water

The firm secures seat on $900M Air Force Modeling, Simulation, and Analysis Contract The firm secures seat on $900M Air Force Modeling, Simulation, and Analysis Contract

Parsons Delivering Future of Operational Dominance Capabilities to the U.S. Air Force

CENTREVILLE, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- As a leading offensive and defensive cyber company for military operations, Parsons Corporation (NYSE: PSN) announced today that the company was selected to provide command, control, communications, computers, and capabilities development (C4CD) to the U.S. Cyber Command (CYBERCOM). The one-year $21 million cost plus fixed-fee contract is a continuation of C4CD work that Parsons has provided to CYBERCOM since 2016 and was awarded by the General Services Administration (GSA).

Parsons Unlocking Full-Spectrum Military Cyberspace Operations

CENTREVILLE, Va., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on a $49 million indefinite-delivery multiple award contract by the United States Army Corps of Engineers (USACE) Mobile District South Atlantic Division. The five-year contract includes construction management services in support of Military Construction, Civil Works, and Interagency and International Support construction projects executed by the Mobile District.

Parsons Named on $49M Federal Infrastructure Contract for U.S. Army Corps of Engineers

Parsons Corporation (NYSE:PSN ) Q4 2022 Earnings Conference Call February 15, 2023 8:00 AM ET Company Participants David Spille - VP, IR Carey Smith - Chair, President & CEO Matt Ofilos - CFO Conference Call Participants Bert Subin - Stifel Tobey Sommer - Truist Josh Sullivan - The Benchmark Company Mariana Perez Mora - Bank of America Sheila Kahyaoglu - Jefferies Louie DiPalma - William Blair Operator Good morning, and welcome to the Q4 2022 Parsons Corporation Earnings Conference Call. All participants will be in listen-only mode.

Parsons Corporation (PSN) Q4 2022 Earnings Call Transcript

Parsons (PSN) delivered earnings and revenue surprises of -3.77% and 4.99%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Parsons (PSN) Q4 Earnings Miss Estimates

Parsons Reports Record Revenue and Adjusted EBITDA Results for the Fourth Quarter and Fiscal Year 2022

CENTREVILLE, Va., Feb. 14, 2023 (GLOBE NEWSWIRE) -- As the space environment becomes proliferated with government and commercial systems, the need to design, develop, and deploy operationally relevant capabilities requires agile innovation and a close partnership between government and commercial industries. With experience in both government and commercial space, Parsons Corporation (NYSE: PSN) established the Parsons Space Operations Center (PSOC) to address the demand for a commercial approach to spacecraft operations and ground control, that maximizes affordability while delivering high-quality and responsive solutions.

Parsons Space Operations Center Unifies Government and Commercial Technologies to Respond to Critical Space Demands

CENTREVILLE, Va., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company will help deliver New York State Department of Transportation's Hunts Point Interstate Access Improvement Project, Contract 3 as Lead Designer to the joint venture of El Sol Contracting and Construction Corporation and Defoe Corporation. The $446 million design build project will replace the aging structures and improve operations of the existing infrastructure, increase through traffic speeds, update roadway alignments, and expand overall throughput.

Parsons Designing the Future of New York's Hunts Point Interstate Access

CENTREVILLE, Va., Feb. 09, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a position on a $675 million indefinite-delivery, indefinite-quantity multiple award task order contract (MATOC) by the United States Army Corps of Engineers (USACE). The award, which includes a base period of three years, two twenty-four-month option periods, and a six-month extension, will support the U.S. Army Engineering and Support Center Huntsville in meeting Electronic Security Systems (ESS) Program needs.

Parsons Wins Position on $675M Contract Supporting USACE Electronic Security Systems

CENTREVILLE, Va., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will present at Cowen's 44th Annual Aerospace/Defense & Industrials 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 Thursday, February 16, 2023, at approximately 8:30 a.m. Eastern Time.

Parsons to Present at Cowen's 44th Annual Aerospace/Defense & Industrials Conference

CENTREVILLE, Va., Feb. 08, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company's contract as the Main Construction Manager of the Giant Mine Remediation Project has been amended and will continue providing construction management services until the completion of the remediation at the former gold mine in Yellowknife, Northwest Territories, Canada. Term two of the contract, awarded by Public Services and Procurement Canada, on behalf of Crown-Indigenous Relations and Northern Affairs Canada (CIRNAC), is effective as of February 2, 2023. The implementation of the Giant Mine Remediation Project is estimated to take 15 years and will cost approximately $4.38 billion CAD.

Parsons Continues Long-Term Remediation of Canada's Giant Mine

CENTREVILLE, Va., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) is leveraging its full spectrum of communications design, program and project management, radio frequency planning, and engineering expertise to help deliver broadband access across the United States. As part of this effort, the company was recently awarded a multi-million-dollar contract to design hundreds of miles of fiber optic installations along freeways for underserved communities.

Parsons Connecting Communities with New Broadband Internet Effort

CENTREVILLE, Va., Feb. 02, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was selected by the Rua Al-Madinah Holding Company (RAM-H) to provide construction project management consultancy and contract administration services (PMCM) for the Rua Al-Madinah mega mixed-use real estate project in the holy city of Al-Madinah Al-Munawarah, Kingdom of Saudi Arabia (KSA). Under the $15 million contract, Parsons will manage the main infrastructure works including the tunnel, road, and utility works.

Parsons Awarded Contract For Megaproject In Saudi Arabia

There are multiple key drivers across all verticals that Parsons is present in. PSN's strong customer relationship and industry recognition are barriers to entry.

Parsons Corp.: Growth Likely To Decelerate

CENTREVILLE, Va., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was appointed as a delivery partner for THE LINE, the centerpiece project for NEOM – the ‘land of the future' being developed in northwest Saudi Arabia. Envisaged as a model for future sustainable urban living, THE LINE is being designed to have no cars, no roads, no carbon emissions, and to operate on 100% clean energy.

Parsons Delivering the Future of Infrastructure for THE LINE Giga-project

CENTREVILLE, Va., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release fourth quarter and fiscal year 2022 financial results before the markets open on Wednesday, February 15, 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 Fourth Quarter and Fiscal Year 2022 Financial Results on February 15, 2023

CENTREVILLE, Va., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that Xator, LLC, a Parsons company, won prime and major subcontractor positions on the United States Air Force (USAF) Integrated Base Defense Security System (IBDSS) task order contract, which will deliver modernization and sustainment solutions for the USAF through 2027. Xator is eligible to receive up to $79.5 million of task order work that expands on the company's existing Force Protection Site Security System Solutions contract to provide foundational and integrated security solutions to the Air Force's global operations.

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