Parsons Corporation provides technology based solutions in the defense, intelligence, and critical infrastructure markets in North America, the Middle East, and internationally. It operates through two segments, Federal Solutions and Critical Infrastructure. The company offers cyber security and intelligence services, as well as offensive and defensive cybersecurity platforms, tools, and operations to U.S. Department of Defense and the United States intelligence community; space and geospatial solutions, such as geospatial intelligence, threat analytics, space situational awareness, small satellite launch and integration, satellite ground systems, fight dynamics, and command, and control solutions to the National Geospatial-Intelligence Agency, National Reconnaissance Office, and multiple units within the U.S. Department of Defense. It also provides missile defense and C5ISR solutions, such as integrated air and missile defense, data fusion and analytics, platform system integration, directed energy, joint all-domain operations, and command and control systems to Defense Intelligence Agency and U.S. Department of Defense; technology services for complex energy production systems, aviation, healthcare and bio-surveillance systems, and environmental systems and associated infrastructure, as well as nuclear waste processing and treatment, weapons of mass destruction elimination, program and project management, infectious disease control analytics, and data protection solutions. In addition, the company offers intelligent transportation system management, aviation, rail and transit systems, smart cities software, and critical infrastructure cyber protection to the transportation authorities, rail, and transit entities; engineering services for complex infrastructure; and program management, and environmental solutions to private-sector industrial clients and public utilities. Parsons Corporation was founded in 1944 and is headquartered in Centreville, Virginia.
IPO Year: 2019
Exchange: NYSE
Website: parsons.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/2/2025 | Outperform → Mkt Perform | Raymond James | |
| 12/12/2024 | $103.00 → $111.00 | Neutral → Buy | Goldman |
| 10/23/2024 | $115.00 | Strong Buy → Outperform | Raymond James |
| 5/3/2024 | $77.00 → $90.00 | Hold → Buy | TD Cowen |
| 5/1/2024 | $82.00 → $95.00 | Outperform → Strong Buy | Raymond James |
| 1/16/2024 | $68.00 → $75.00 | Neutral → Outperform | Robert W. Baird |
| 1/10/2024 | $74.00 | Overweight | KeyBanc Capital Markets |
| 8/14/2023 | $46.00 → $65.00 | Underperform → Buy | BofA Securities |
| 7/28/2023 | $50.00 → $60.00 | Hold → Buy | Truist |
| 3/28/2023 | Mkt Perform → Outperform | William Blair |
10-Q - PARSONS CORP (0000275880) (Filer)
8-K - PARSONS CORP (0000275880) (Filer)
10-Q - PARSONS CORP (0000275880) (Filer)
8-K - PARSONS CORP (0000275880) (Filer)
10-Q - PARSONS CORP (0000275880) (Filer)
8-K - PARSONS CORP (0000275880) (Filer)
8-K - PARSONS CORP (0000275880) (Filer)
ARS - PARSONS CORP (0000275880) (Filer)
DEF 14A - PARSONS CORP (0000275880) (Filer)
10-K - PARSONS CORP (0000275880) (Filer)
SC 13G/A - PARSONS CORP (0000275880) (Subject)
SC 13G/A - PARSONS CORP (0000275880) (Subject)
SC 13G/A - PARSONS CORP (0000275880) (Subject)
SC 13G/A - PARSONS CORP (0000275880) (Subject)
CHANTILLY, Va., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release fourth quarter and fiscal year 2024 financial results before the markets open on Wednesday, February 19, 2025. 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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximat
Q3 2024 Financial Highlights Record revenue of $1.8 billion increases 28% year-over-yearRecord organic revenue growth of 26%, including six consecutive quarters with year-over-year organic growth above 20%Record net income increases 52% to $72 millionRecord adjusted EBITDA increases 31% to $167 millionRecord cash flow from operations increases by $95 million to $299 million; record trailing twelve-month operating cash flow of $587 million increases 91% over the prior twelve-month periodContract awards increase 24% to $1.8 billion, a third quarter recordAnnounced and closed BlackSignal Technologies acquisitionAfter Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Eng
CHANTILLY, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release third quarter 2024 financial results before the markets open on Wednesday, October 30, 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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximately two hours
Q2 2024 Financial Highlights Record revenue of $1.7 billion increases 23% year-over-yearStrong second quarter organic revenue growth of 22%, including five consecutive quarters with year-over-year organic growth above 20%Record net income of $69 million increases 60%Record adjusted EBITDA increases 27% to $150 millionRecord cash flow from operations increases $138 million to $161 million; record trailing twelve-month operating cash flow of $492 million increases 117% over the prior twelve-month periodAfter Q2 2024 ended, Parsons entered into a definitive agreement to acquire BlackSignal TechnologiesIncreasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., July
CHANTILLY, Va., July 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release second quarter 2024 financial results before the markets open on Wednesday, July 31, 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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximately two hours af
Q1 2024 Financial Highlights Record revenue of $1.5 billion increases 31% year-over-yearRecord first quarter organic revenue growth of 29%, including four consecutive quarters with organic growth above 20%Net loss of $107 million due to a $214 million pre-tax charge related to a partial repurchase of 2025 convertible notes above par due to stock price appreciationAdjusted EBITDA increases by 56% to $141 millionStrong book-to-bill ratio of 1.4x on record contract awards with 51% growthRecord total backlog increases 8% to $9.0 billionIncreasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., May 01, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) today an
CHANTILLY, Va., April 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release first quarter 2024 financial results before the markets open on Wednesday, May 1, 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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximately two hours after th
Record Fourth Quarter Financial Highlights Revenue of $1.5 billion increases 35% year-over-yearOrganic revenue growth of 34% including at least 20% organic growth in both segments for the third consecutive quarterNet income of $45 million increases 60%Adjusted EBITDA of $128 million increases 30% year-over-yearCash flow from operations of $190 millionContract 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-yearCash flow from operations increases 72% to $408 millionCont
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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approx
Q3 2023 Financial Highlights Record revenue of $1.4 billion increases 25% year-over-yearRecord organic revenue growth of 23% including over 20% organic growth in both segments for the second consecutive quarterNet income of $47 million increases 60%Adjusted EBITDA of $128 million increases 24% year-over-yearRecord cash flow from operations of $204 million; year-to-date cash flow increases 47% over prior year periodBook-to-bill ratio of 1.0x on contract awards growth of 14%; trailing 12-month book-to-bill ratio of 1.2xIncreasing 2023 guidance ranges for revenue, adjusted EBITDA, and cash flow from operations CHANTILLY, Va., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
4 - PARSONS CORP (0000275880) (Issuer)
CHANTILLY, Va., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it has initiated a task order extension supporting the San Diego Pure Water program. This task order is a component of the eight-year, $110 million contract the Parsons-led joint venture with Black & Veatch was awarded in 2018 to provide comprehensive construction management services for treatment plants and associated facilities integral to the Pure Water Program. The San Diego Pure Water Program is a pivotal initiative implemented by the City of San Diego to reduce its reliance on imported water and provide a reliable, local, and sustainable water supply. Upon full implementation by 2
CHANTILLY, Va., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) will release fourth quarter and fiscal year 2024 financial results before the markets open on Wednesday, February 19, 2025. 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. Access to a webcast of the live conference call can be obtained through the Investor Relations section of the company's website (https://investors.parsons.com). Those parties interested in participating via telephone may register on the Investor Relations website or by clicking here. A replay will be available on the company's website approximat
COLUMBIA, Md., Jan. 6, 2025 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE:PSN), and trusted partner in providing powerful edge computing hardware and full-spectrum cybersecurity solutions announces the addition of Brad Hatcher in the company's newly created role of Chief Product Officer (CPO). In his role, Brad will continue to strengthen SealingTech's hardware production to meet rapidly evolving cyber threats.In his new role, Brad will continue to strengthen and streamline SealingTech's hardware production and software development pro
CHANTILLY, Va., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that a team consisting of AECOM, Parsons, STV, Turner & Townsend, Ardmore Roderick, and CAS Consulting (LINC Austin) was selected by the Austin Transit Partnership as Delivery Partner for the $7 billion Austin Light Rail project. Under the initial four-year contract, LINC Austin will provide program and project management, construction management, and technical expert services during the planning, design, procurement, construction, and post-construction phases of the Austin Light Rail project. As a major subconsultant to AECOM, Parsons will provide a comprehensive range of services, including
CHANTILLY, Va., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company was awarded the LTC Hernan G. Pesquera Army Reserve Center Microgrid contract by the United States Army Corps of Engineers (USACE) Louisville District. The $20 million contract, including base plus options, to enhance energy resilience and sustainability for the Pesquera Army Reserve Center in Puerto Rico consists of a 610-day period of performance and is new work for the company. Under this contract, Parsons will deliver critical infrastructure protection capabilities designed to enhance energy reliability, resilience, and sustainability for the Army Reserve Center in Jua
CHANTILLY, Va., Dec. 16, 2024 (GLOBE NEWSWIRE) -- In a groundbreaking initiative to enhance U.S. Air Force training operations, Parsons Corporation (NYSE:PSN), in collaboration with the University of Southern Mississippi, the Mississippi Air National Guard, and SeaTrac Systems, has integrated the company's Threat Representative Environment (TReX) emulator onto a remotely operated SeaTrac Unmanned Surface Vehicle (USV) during maritime operations. This first-of-its-kind demonstration was conducted off the U.S. Gulf of Mexico in November and establishes a new benchmark for realistic training environments for Air Force pilots and operators. Parsons' TReX threat emulator is designed to simulat
CHANTILLY, Va. , Dec. 11, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that California Department of Transportation (Caltrans) has selected the company to perform professional and technical services. This $23 million contract will provide "as needed" engineering and inspection services for structure construction projects in Caltrans Districts 1, 2, and 3-North. "Parsons has worked with the Caltrans for decades to improve California's transportation system and provide greater mobility throughout the state," said Mark Fialkowski, president of Infrastructure North America for Parsons. "With multiple high-profile events coming in the near future, including the O
RESTON, Va., Dec. 10, 2024 /PRNewswire/ -- V2X Inc., (NYSE:VVX) is pleased to announce a strategic joint venture with Parsons Corporation (NYSE:PSN) in pursuit of the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC) with an $8 billion ceiling value. The newly formed joint venture, named Polar Science Alliance (PSA), is a wholly dedicated entity which will enable world class scientific research support services for the United States Antarctic Program (USAP) over the next two decades. For over six decades, the National Science Foundation (N
CHANTILLY, Va., Dec. 10, 2024 (GLOBE NEWSWIRE) -- (December 10, 2024) – Parsons Corporation (NYSE:PSN) announced today that the company has formed a joint venture with V2X named Polar Science Alliance (PSA), LLC to pursue the National Science Foundation's (NSF) Antarctic Science and Engineering Support Contract (ASESC). This mission-critical $8 billion ceiling value single-award indefinite-delivery, indefinite-quantity contract will enable world-class scientific research support services for the United States Antarctic Program (USAP) over the next two decades. NSF manages all U.S. scientific research and related logistics in Antarctica as well as aboard ships in the Southern Ocean t
CHANTILLY, Va., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) was named the 8th Most Trusted Company in America 2025 according to Forbes' listing of the Most Trusted Companies in America. Created in partnership with research companies HundredX, Signal AI and Glassdoor, Forbes' list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust, and media sentiment. More than 2,000 public companies based in the United States were eligible. Parsons is the only member of its peer group in the top 10. "Every day, our more than 19,000 global employees extend the company's outstanding 80-year history of excellence, innovation,
Raymond James downgraded Parsons from Outperform to Mkt Perform
Goldman upgraded Parsons from Neutral to Buy and set a new price target of $111.00 from $103.00 previously
Raymond James downgraded Parsons from Strong Buy to Outperform and set a new price target of $115.00
TD Cowen upgraded Parsons from Hold to Buy and set a new price target of $90.00 from $77.00 previously
Raymond James upgraded Parsons from Outperform to Strong Buy and set a new price target of $95.00 from $82.00 previously
Robert W. Baird upgraded Parsons from Neutral to Outperform and set a new price target of $75.00 from $68.00 previously
KeyBanc Capital Markets initiated coverage of Parsons with a rating of Overweight and set a new price target of $74.00
BofA Securities upgraded Parsons from Underperform to Buy and set a new price target of $65.00 from $46.00 previously
Truist upgraded Parsons from Hold to Buy and set a new price target of $60.00 from $50.00 previously
William Blair upgraded Parsons from Mkt Perform to Outperform
CHANTILLY, Va., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) was named the 8th Most Trusted Company in America 2025 according to Forbes' listing of the Most Trusted Companies in America. Created in partnership with research companies HundredX, Signal AI and Glassdoor, Forbes' list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust, and media sentiment. More than 2,000 public companies based in the United States were eligible. Parsons is the only member of its peer group in the top 10. "Every day, our more than 19,000 global employees extend the company's outstanding 80-year history of excellence, innovation,
CHANTILLY, Va., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded a $53 million, three-year contract by the Royal Commission for Riyadh City (RCRC) in Saudi Arabia for program management office (PMO) services on its Main and Ring Roads Program. "We are proud to call the RCRC a long-standing client of ours and are honored to be working on the Main and Ring Roads Program alongside them," said Martin Boson, Senior Vice President and General Manager of Parsons' Saudi Arabian operations. "With Riyadh being the most populated city in Saudi Arabia, the Program plays a fundamental role in facilitating the smooth mobility of people a
CHANTILLY, Va., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN), announced today that the official inauguration took place on 27 November 2024 for the $27 billion Riyadh Metro. Parsons is one of three consultants working as part of a Parsons-led joint venture known as the Riyadh Metro Transit Consultants (RMTC), along with Egis and SYSTRA, providing project and construction management on two of the Royal Commission for Riyadh City's (RCRC) Riyadh Metro contracts which Parsons has now successfully delivered. "From its inception, the Riyadh Metro was conceived as a transformative project to reshape urban mobility and dramatically improve the lives of residents and visitors
CHANTILLY, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded two contracts worth $25 million to perform design engineering for a Middle East transportation customer. With the same customer, Parsons has won more than $90 million in contract awards over the last 9 months. Under these contracts, Parsons will lead the design engineering and construction supervision of transportation infrastructure enhancements. The scope includes the development of mobility solutions and their dedicated corridors, roadway capacity upgrades, and public transit initiatives on critical streets to improve urban mobility and reduce congestion. P
NEW YORK, Sept. 6, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 23, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from
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, a
CENTREVILLE, Va., July 25, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) has named Matt Ofilos as the company's chief financial officer (CFO). Ofilos, who previously served as Parsons' executive vice president of finance, succeeds George Ball, who served as CFO since 2008 and will remain in an advisory capacity through September 2022. Ofilos brings more than 20 years of finance experience and a proven track record of delivering profitable growth and building high-performance finance teams to the role. The board of directors also announced the appointment of two new directors: George Ball and Ellen Lord, the former Under Secretary of Defense for Acquisition and Sustainment. All th
CENTREVILLE, Va., June 21, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) has announced the promotion of Tim Schmitt to its executive leadership team, effective Aug. 1, 2022. Schmitt joined Parsons in 2018 through the company's acquisition of Polaris Alpha® and has served as chief development officer since that time. In his new role, Schmitt will continue serving as chief development officer, leading Parsons' robust merger and acquisition (M&A) program and overseeing the corporation's strategy and market research efforts. "Tim is a proven executive and driving force behind our growth and strategy," said Carey Smith, chairwoman, president, and chief executive officer of Parsons. "
SINGAPORE, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Triterras Inc. (NASDAQ:TRIT, TRITW))) ("Triterras" or the "Company"), a leading fintech company focused on trade and trade finance, today announced the appointment of Perry Mangers, CPA, to the newly created role of Vice President of Financial Reporting. He will report to Chief Financial Officer Alvin Tan. Mangers is a finance professional with more than 20 years of wide-ranging corporate and board-level experience. His areas of specialty have included initial public offerings, global reporting, financial controls, SOX compliance, financial systems implementations, technical accounting and M&A advisory functions. He will be responsible for fin
CENTREVILLE, Va., April 20, 2021 /PRNewswire/ -- The board of directors of Parsons Corporation (NYSE:PSN) has elected Carey Smith as chief executive officer, effective July 1st, 2021. Smith succeeds Charles "Chuck" Harrington, who announced his retirement after nearly 40 years with the company. Harrington will continue to serve on the Parsons Board of Directors as executive chairman upon his retirement. "Leading and transforming Parsons into the technology company we are today has been one of the greatest honors of my life, and I know the company is in great hands," Harrington said. "After nearly 40 years, I'm proud of the company we've built, humbled by the amazing people I've had the pleas