Parsons Stock Price, News & Analysis

Parsons (NYSE: PSN) has announced its participation in the Raymond James 46th Annual Institutional Investors Conference. The company's leadership, including Chair, President, and CEO Carey Smith, along with CFO Matt Ofilos, will engage in a fireside chat and Q&A session on Tuesday, March 4, 2025, at 2:50 p.m. Eastern Time.

Investors and interested parties can access the presentation through a live webcast on the investor relations section of Parsons' website. The presentation recording will remain available for replay on the company's website for 30 days following the event.

Parsons (PSN) reported record results for Q4 and FY 2024. Q4 revenue reached $1.7 billion, up 16% year-over-year with 14% organic growth. Q4 net income increased 21% to $54 million.

For FY 2024, revenue grew 24% to $6.8 billion, with 22% organic growth. Net income rose 46% to $235 million. The company achieved record adjusted EBITDA of $605 million, up 30%, and record cash flow from operations of $524 million, up 28%.

Contract awards increased 17% to $7.0 billion, with 15 contracts worth over $100 million each. The Federal Solutions segment saw 33% revenue growth to $4.0 billion, while Critical Infrastructure revenue grew 13% to $2.7 billion. For FY 2025, Parsons guides revenue between $7.0-7.5 billion and adjusted EBITDA of $640-710 million.

Sealing Technologies (SealingTech), a Parsons (NYSE: PSN) company, has signed an agreement with MAW Telecom International to serve as its authorized agent in Poland. The collaboration aims to strengthen international allies' interoperability and enhance global security.

The U.S. Department of Commerce and U.S. Embassy in Warsaw will host a company promotion event for both companies to showcase their defensive cybersecurity solutions. The partnership will deploy Cyber-Fly-Away Kits to provide cyber protection teams with combined capabilities to protect critical infrastructure. The initiative also aims to expand Poland's defensive capabilities and support Ukraine's reconstruction efforts.

The collaboration combines SealingTech's expertise in lightweight, modular small form factor servers with MAW Telecom's experience in national defense and internal security.

Parsons (NYSE: PSN) has acquired TRS Group, Inc. in an all-cash transaction valued at $36 million. TRS, formed in 2000, specializes in environmental remediation technology, particularly in PFAS, thermal, and holistic environmental solutions. The company has completed over 160 in situ thermal remediation projects.

TRS is the exclusive North American licensee of PerfluorAd™ technology, used for removing PFAS compounds from firefighting vehicles, fire suppression systems, and wastewater streams. The acquisition enhances Parsons' environmental remediation capabilities across both Federal Solutions and Critical Infrastructure segments.

The acquisition is strategically significant as 34 states have introduced PFAS restrictions, with the market driven by industrial companies, airports, Department of Defense facilities, state regulations, and EPA maximum contaminant levels.

Sealing Technologies (SealingTech), a Parsons company (NYSE: PSN), has achieved a significant milestone by delivering over 500 Cyber-Fly-Away kits to U.S. defense and intelligence customers, with record production numbers in Q4 2024. The production effort generated more than $26M in revenue for the quarter.

The Cyber-Fly-Away kits, developed in 2018 for the Department of Defense, are designed to enhance global full-spectrum cyber operations and address evolving cyber threats. The company focuses on providing innovative defensive cyber solutions with enhanced capability, storage, agility, and value for the U.S. military cyber mission.

Parsons (NYSE: PSN) has secured a one-year contract extension on a confidential program in January 2025. The company had previously mentioned this pending contract during their Q3 2024 earnings call.

Parsons (NYSE: PSN) has entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Army C5ISR Center to support Project Linchpin, the Army's emerging Artificial Intelligence and Machine Learning (AI/ML) Program. Under the agreement, Parsons will analyze datasets, models, and deployment scenarios to establish metrics, specifications, and governance for AI/ML operational use cases.

The company will collaborate with C5ISR and Project Linchpin to develop deployment and model monitoring standards, supporting streamlined ML operations across the Army community. Project Linchpin, led by the Army's Program Executive Office for Intelligence, Electronic Warfare, and Sensors, aims to deliver trusted AI capabilities across the Army enterprise through its AIOps+ ecosystem.

Parsons brings experience from previous AI/ML implementations, including Project Maven from 2017, and has a history of supporting the Army and other DoD partners in integrating emerging technologies.

Parsons (NYSE: PSN) has secured a task order extension for the San Diego Pure Water Program, continuing its role in an eight-year, $110 million joint venture contract with Black & Veatch awarded in 2018. The project focuses on providing construction management services for treatment plants and facilities.

The program aims to reduce San Diego's dependence on imported water by producing 83 million gallons of water daily by 2035, representing nearly half of the city's water supply. The initiative will also cut treated wastewater ocean discharges by 50%.

Under the extension, Parsons will continue managing construction of the North City Pure Water Facility (NCPWF), a state-of-the-art treatment facility designed to produce up to 34 million gallons of water daily during Phase 1 of the program.

Parsons (NYSE: PSN) has announced it will release its fourth quarter and fiscal year 2024 financial results before market opening on Wednesday, February 19, 2025. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss earnings results and strategic corporate initiatives.

Investors can access the live conference call webcast through the company's Investor Relations website. Interested parties can also participate via telephone by registering through the website. A replay of the conference call will be available on Parsons' website for one year, approximately two hours after the live event.