Parsons Named Government Contractor of the Year

Rhea-AI Summary

Parsons (NYSE:PSN) has been named 'Contractor of the Year' in the greater than $300 million category at the 22nd Annual Greater Washington Government Contractor Awards. The company reported record Q3 results, including total revenue, organic revenue growth, net income, adjusted EBITDA, operating cash flow, and contract awards, maintaining over 20% organic growth for six consecutive quarters. The recognition highlights Parsons' leadership in government contracting, delivering critical missions globally, and its strong corporate culture. The company has also been recognized as a Best Employer for New Grads by Forbes and one of the World's Most Ethical Companies for 15 consecutive years.

Positive

• Won 'Contractor of the Year' award in >$300M category
• Record Q3 results across multiple financial metrics
• Maintained >20% organic growth for six consecutive quarters

Negative

• None.

CHANTILLY, Va., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) was recognized as “Contractor of the Year” this week at the 22^nd Annual Greater Washington Government Contractor Awards, where the company won the “Contractor of the Year, greater than $300 million” category. The annual event, presented by the Northern Virginia Chamber of Commerce and the Professional Services Council, is the premier event honoring the leadership, innovation, and commitment to excellence of the people and businesses of the government contracting community.

“Every day, more than 19,000 members of the Parsons team are working to make a difference for our customers and our company,” said Parsons’ Chair, President, and Chief Executive Officer Carey Smith. “This award recognizes their outstanding performance and their commitment to imagining next in national security and global infrastructure. Especially as we celebrate Parsons’ 80^th anniversary in 2024, this recognition highlights our leadership and impact over the last eight decades and our bright future for the decades ahead.”

The award recognized Parsons leading role in the government contracting sector, delivering on customers’ critical missions around the world, achieving record results, and cultivating a strong corporate culture and role as a destination employer. Smith noted the successes in the company’s quarterly earnings call last week, citing record Q3 results for total revenue, organic revenue growth, net income, adjusted EBITDA, operating cash flow, and contract awards, and delivering over 20% organic growth for the sixth consecutive quarter. The company has also been recognized as a Best Employer for New Grads by Forbes, a top military-friendly employer, and as one of the World’s Most Ethical Companies for 15 consecutive years by Ethisphere.

To learn more about Parsons, visit www.parsons.com/.

About Parsons

Parsons (NYSE: PSN) is a leading 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. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Media Contact:
Jason Yaley
+1 571-255-9122
jason.yaley@parsons.us

Investor Relations Contact:
Dave Spille
+ 1.571.655.8264
dave.spille@parsons.us

FAQ

What award did Parsons (PSN) win in November 2024?

Parsons won the 'Contractor of the Year' award in the greater than $300 million category at the 22nd Annual Greater Washington Government Contractor Awards.

What financial records did Parsons (PSN) achieve in Q3 2024?

Parsons achieved record Q3 results in total revenue, organic revenue growth, net income, adjusted EBITDA, operating cash flow, and contract awards.

How many consecutive quarters has Parsons (PSN) maintained over 20% organic growth?

Parsons has maintained over 20% organic growth for six consecutive quarters.