Parsons (PSN) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this software and infrastructure services provider reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correl ...

COLUMBIA, Md., Aug. 7, 2024 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and leading provider of edge computing and defensive cybersecurity solutions, is proud to announce it has been awarded a $9,588,231 fixed-price contract for the U.S. Army's Deployable Defensive Cyber Operations System – Modular version 2 (DDS-Mv2). The DDS-Mv2 program is a customized deployable compute-and-data-storage system that supports Cyber Protection Teams' suite of Defensive Cybe ...

This defense IT specialist continues to impress. Parsons (PSN 17.00%) has been one of the best under-the-radar stocks in the defense sector over the past five years, outpacing the S&P 500. The company kept that momentum going in the most recent quarter, easily topping expectations. Investors are rallying into the shares, sending Parsons stock up 15% as of noon ET. A beat and raise from a cyber specialist Parsons provides tech-based solutions and consulting for the defense, intelligence, and critical infrast ...

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs, and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors t ...

Financial Data and Key Metrics Changes - The company generated $1.7 billion in revenue for the first time in its history, achieving organic revenue growth of 22% [74][119] - Adjusted EBITDA reached a record $150 million, increasing 27% year-over-year, with an adjusted EBITDA margin expanding 30 basis points to 9% [90][111] - The company increased its 2024 revenue guidance range by $200 million at the midpoint to $6.35 billion to $6.55 billion, representing total revenue growth of 19% at the midpoint [59][62] Business Line Data and Key Metrics Changes - Federal Solutions segment revenue increased by 30% year-over-year, driven by organic growth of 27% and contributions from acquisitions [121] - Critical Infrastructure segment revenue increased by 15% year-over-year, with organic growth driven by higher volume in the Middle East and North American infrastructure portfolios [122] - The adjusted EBITDA margin for Critical Infrastructure increased by 150 basis points to 7% [101] Market Data and Key Metrics Changes - The company reported strong momentum in the Middle East, particularly in Saudi Arabia, with double-digit year-over-year revenue growth [76][91] - The book-to-bill ratio for the trailing 12 months was 1.0 times, indicating a 10% increase in contract award activity [75][126] - The company ended the second quarter with a total backlog of $8.8 billion, with 62% funded [81] Company Strategy and Development Direction - The company is focused on six enduring, growing, and profitable end markets, which has resulted in record revenue and profitability [66][134] - The acquisition of BlackSignal Technologies for approximately $200 million is expected to enhance technology offerings and support long-term growth [79][95] - The company aims to continue expanding margins and is optimistic about achieving double-digit growth in the Critical Infrastructure segment [48][140] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining above-market growth rates, supported by a robust pipeline of new opportunities [62][117] - The company noted that it does not foresee any impact from the election on its operations, as national security initiatives have bipartisan support [3] - Management highlighted the importance of technology transformation in critical areas such as cyber, artificial intelligence, and electronic warfare [66][88] Other Important Information - The company reported a significant increase in operating cash flow, generating $161 million in Q2 2024 compared to $23 million in Q2 2023 [124] - The company has a strong balance sheet with a net debt leverage ratio of 1.3 times, which is expected to increase to 1.7 times post-acquisition of BlackSignal [125] Q&A Session Summary Question: Can you elaborate on the decline in backlog and slower bookings? - Management indicated that backlog was relatively flat, with a strong book-to-bill ratio of 1.12 times year-to-date, and both segments are over 1.0 times [29] Question: What are the expectations for contract activity and bookings in the second half of the year? - Management expressed optimism about the pipeline, stating it remains strong with many candidates within both Critical Infrastructure and Federal segments [34] Question: How do you view the opportunities for revenue synergies with BlackSignal? - Management is excited about BlackSignal, noting its alignment with the company's solution-selling vision and its strong intellectual property [47] Question: What is the outlook for margins and profitability? - Management expects continued margin expansion, projecting 20 to 30 basis points of improvement each year after 2024 [140] Question: Can you discuss the impact of the Infrastructure Bill on future projects? - Management noted that the Infrastructure Bill has already allocated significant funding, which will support ongoing and future projects [174]

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. This quarterly report represents an earnings surprise of 27.27%. A quarter ago, it was expected that this software and infrastructure services provider would post earnings of $0.62 per ...

FORM 10-Q | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------|-----------|-----------------------------------------------------| | Parsons Corporation (Exact Name of Registrant as | Specified | in its Charter) | | Delaware (State or other jurisdiction of incorporation or organization) | | 95-3232481 (I.R.S. Employer Identification No.) | | | | | | 14291 Park Meadow Drive, Suite 100 Chantilly, Virginia (Address of princi ...

Exhibit 99.1 Parsons Reports Record Results Since IPO for the Second Quarter of 2024 Q2 2024 Financial Highlights Chantilly, VA – July 31, 2024 Parsons Corporation (NYSE: PSN) today announced financial results for the second quarter ended June 30, 2024. CEO Commentary "We are very pleased with our second quarter results and what the entire Parsons' team continues to accomplish. Over the last three years, we have transformed the company into a high-value solutions provider that differentiates by leveraging s ...

Q2 2024 Financial Highlights CHANTILLY, Va., July 31, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the second quarter ended June 30, 2024. "We are very pleased with our second quarter results and what the entire Parsons' team continues to accomplish. Over the last three years, we have transformed the company into a high-value solutions provider that differentiates by leveraging software and cutting-edge technology," said Carey Smith, chair, president, and ch ...

"We're excited to work with the City of Inglewood to improve transit reliability, reduce carbon emissions, and relieve traffic congestion while providing efficient passenger transportation," said Mark Fialkowski, president, Infrastructure North America for Parsons. "The Inglewood Transit Connector will expand transit options not only for residents, but the many employees, visitors and fans from city venues, housing, and commercial centers." Parsons has decades of experience designing, delivering, and protec ...