CHANTILLY, Va., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has launched the latest version of its DERMS solutions platform, a distributed energy resource (DER) management system and IoT platform. This open standards-based system, available as SaaS or enterprise landed, revolutionizes the integration and realization of the environmental and economic benefits of renewable energy also known as DERs that include solar panels, wind turbines, energy storage, electric batteries, thermostat c ...

NEW YORK, Nov. 11, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Parsons Corporation (NYSE: PSN) on behalf of the company's shareholders.  The investigation seeks to determine whether Parsons's directors breached their fiduciary duties in connection with recent corporate actions.If you are a shareholder of Parsons Corporation and are interested in obtaining additional information regarding your rights and options, free of charge, please visit us at: https://pjlfirm.com/pars ...

CHANTILLY, Va., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) was recognized as “Contractor of the Year” this week at the 22nd 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 busin ...

Investors interested in stocks from the Technology Services sector have probably already heard of Parsons (PSN) and AppLovin (APP) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stock ...

Group 1 - Robert F. Abbott has been managing family investments since 1995 and incorporated options trading in 2010, focusing on covered calls and collars with long stocks [1] - Abbott is a freelance writer and operates a website aimed at providing information for new and intermediate-level mutual fund investors [1] - He holds a Bachelor of Arts and a Master of Business Administration (MBA) degree [1]

Core Viewpoint - Parsons (PSN) reported quarterly earnings of $0.95 per share, exceeding the Zacks Consensus Estimate of $0.79 per share, and showing an increase from $0.69 per share a year ago, indicating a strong performance in the software and infrastructure services sector [1][2] Financial Performance - The company achieved revenues of $1.81 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 11.35%, compared to $1.42 billion in the same quarter last year [2] - Over the last four quarters, Parsons has consistently exceeded consensus EPS estimates and revenue expectations [2] Stock Performance - Parsons shares have increased approximately 67.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 22.3% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for continued outperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.85 on revenues of $1.68 billion, and for the current fiscal year, it is $3.20 on revenues of $6.52 billion [7] - The trend of estimate revisions for Parsons has been favorable leading up to the earnings release, which may influence future stock movements [6][5] Industry Context - The Technology Services industry, to which Parsons belongs, is currently ranked in the top 22% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Financial Performance Highlights - Record revenue of $1.8 billion, a 28% increase year-over-year[3, 5, 6] - Record organic revenue growth of 26%[3, 5, 6] - Record net income increased 52% to $72 million[3, 5] - Record adjusted EBITDA increased 31% to $167 million[3, 5, 6] - Record cash flow from operations increased by $95 million to $299 million[3, 5, 6] - Record trailing twelve-month operating cash flow of $587 million, a 91% increase over the prior twelve-month period[3, 6] - Adjusted EBITDA margin expands 20 basis points to 9.2%[5, 6] Contract Awards and Acquisitions - Contract awards increased 24% to $1.8 billion, a third quarter record[3, 5, 6] - Announced and closed BlackSignal Technologies acquisition for approximately $204 million[3, 11] - After Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Engineering, LLC for approximately $230 million[3, 11] Fiscal Year 2024 Guidance - Raised FY24 guidance ranges for revenue to $6.6 - $6.8 billion, adjusted EBITDA to $590 - $620 million, and cash flow from operations to $425 - $465 million[3, 12]

Exhibit 99.1 PARSONS® t THIRD QUARTER 2024 Earnings Press Release . Parsons* third quarter 2022 earnings press release Parsons Reports Record Results Since IPO for the Third Quarter of 2024 Q3 2024 Financial Highlights ▪ Record revenue of $1.8 billion increases 28% year-over-year ▪ Record organic revenue growth of 26%, including six consecutive quarters with year-over-year organic growth above 20% ▪ Record net income increases 52% to $72 million ▪ Record adjusted EBITDA increases 31% to $167 million ▪ Recor ...

CHANTILLY, Va., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a Defense Threat Reduction Agency (DTRA) Proliferation Prevention Program task order to reduce the threat of weapons of mass destruction (WMD) proliferation in Eastern Europe. The $27 million ceiling-value task order under the DTRA Cooperative Threat Reduction Integrating Contract (CTRIC) III is new work for the company and consists of a two-year period of performance and three one- ...

CHANTILLY, Va., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a seat on a $225 million multiple award task order contract (MATOC) by the United States Army Corps of Engineers (USACE) Kansas City District. The contract for environmental remediation activities has a one-year base period and four one-year option periods and represents new work for the company. The contract includes projects funded by the Infrastructure Investment and Jobs Act in ...