UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-07782 PARSONS CORPORATION (Exact name of Registrant as Specified in Its Charter) Delaware 95-3232481 (State or other jurisdiction of ...

Exhibit 99.1 Parsons Reports Record Results Since IPO for the Fourth Quarter and Fiscal Year 2024 Fourth Quarter Financial Highlights Record Fiscal Year 2024 Highlights Chantilly, VA – February 19, 2025, Parsons Corporation (NYSE: PSN) today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. CEO Commentary "2024 was another exceptional year for Parsons. We achieved record results for total revenue, adjusted EBITDA, adjusted EBITDA margin, operating cash flow, contrac ...

Fourth Quarter Financial Highlights Record revenue of $1.7 billion increases 16% year-over-yearOrganic revenue growth of 14%; eighth consecutive quarter of double-digit organic growthRecord net income of $54 million increases 21%Record adjusted EBITDA of $147 million increases 14%Cash flow from operations of $127 millionRecord contract awards increase 34% year-over-year to $1.7 billion Record Fiscal Year 2024 Highlights Record revenue of $6.8 billion, representing total growth of 24% year-over-year and org ...

Core Insights - Analysts project Parsons (PSN) will report quarterly earnings of $0.92 per share, a 33.3% increase year over year, with revenues expected to reach $1.74 billion, reflecting a 16.7% increase from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, indicating a stable outlook from analysts [1] Revenue Estimates - Analysts estimate 'Revenue- Critical Infrastructure' at $712.06 million, representing a year-over-year increase of 9.4% [4] - The consensus estimate for 'Revenue- Federal Solutions' is $1.04 billion, suggesting a year-over-year change of 23.3% [4] EBITDA Estimates - 'Adjusted EBITDA- Critical Infrastructure' is projected to be $57.40 million, compared to $45.66 million from the previous year [4] - 'Adjusted EBITDA- Federal Solutions' is expected to reach $99.60 million, up from $82.49 million in the same quarter last year [5] Stock Performance - Over the past month, Parsons shares have declined by 22.9%, contrasting with a 4.7% increase in the Zacks S&P 500 composite [5] - Parsons holds a Zacks Rank 4 (Sell), indicating a likely underperformance relative to the overall market in the upcoming period [5]

COLUMBIA, Md., Feb. 13, 2025 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and trusted partner in providing powerful edge computing hardware and cybersecurity solutions to protect government entities and private enterprises, proudly announces it has signed an agreement with MAW Telecom International, S.A. (MAW Telecom), a Polish company, to serve as its authorized agent in Poland. The U.S. Department of Commerce and the U.S. Embassy in Warsaw will host a com ...

Core Points - The PlayStation Network (PSN) has been experiencing significant outages for nearly 24 hours, with users reporting ongoing issues and service interruptions [1][2] - Sony has provided minimal communication regarding the outage, leading to frustration among users who are demanding compensation for lost access [2][3] - The lack of updates from Sony has been criticized, as it downplays the severity of the situation and fails to reassure users about the status of their accounts [3][6] Communication Issues - Sony's communication during the outage has been inadequate, with only a single tweet acknowledging the problem without providing any details or timelines for resolution [3][4] - The company's failure to address the situation has led to negative reactions from the gaming community, particularly when they continue to promote unrelated products during the outage [5][6] - The absence of information raises concerns about potential security breaches, as users are left uncertain about the safety of their personal data linked to PSN [8] Service Impact - The ongoing PSN outage affects not only online gaming but also access to single-player games that require PSN to function, which has been a point of contention among gamers [8] - Despite the issues, some events like the free beta for Monster Hunter Wild and a 2XP weekend for Call of Duty: Black Ops 6 are still ongoing, highlighting a disconnect between service availability and promotional activities [7] - While there are indications that PSN services are slowly coming back online, the timeline for full restoration remains unclear [9]

CHANTILLY, Va., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that it has acquired TRS Group, Inc. (TRS), an environmental solutions firm that specializes in remediation technology, in an all-cash transaction valued at $36 million. This transaction benefits both Parsons' Federal Solutions and Critical Infrastructure segments. Formed in 2000, TRS is an industry leader in per and polyfluoroalkyl substances (PFAS), thermal, and holistic environmental remediation, having clean ...

The company has delivered more than 500 cyber kits in totalCOLUMBIA, Md., Jan. 27, 2025 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and trusted partner in providing powerful edge computing hardware and cybersecurity solutions to protect U.S. national security and private enterprises, has successfully delivered more than 500 Cyber-Fly-Away kits to U.S. defense and intelligence customers, including record production numbers during its fiscal fourth quarter, e ...

CHANTILLY, Va., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a contract for a one-year option period on a confidential program in January 2025. This contract was noted as pending during the company’s third quarter 2024 earnings conference call. 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 miss ...

Company Announcement - Parsons Corporation has entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Army C5ISR Center to support Project Linchpin, the Army's AI/ML Program [1] - The CRADA will focus on examining datasets, models, and deployment scenarios to determine optimal metrics, specifications, and governance for AI/ML operational use cases [2] - Parsons will collaborate with C5ISR and Project Linchpin to research deployment and model monitoring standards, aiming to streamline ML operations across the Army community [2] Project Linchpin Overview - Project Linchpin is led by the Army's Program Executive Office for Intelligence, Electronic Warfare, and Sensors (PEO IEW&S) and aims to deliver trusted AI capabilities across the Army enterprise [3] - The project leverages an AIOps+ ecosystem, focusing on partnerships, innovative acquisition processes, standardization, security, and regulatory compliance to ensure effective AI integration [3] Parsons' Expertise and Role - Parsons has decades of experience in integrating emergent technologies into Army and DoD systems, covering R&D, prototyping, integration, test-and-evaluation, and mission-critical deployments [4] - The company is recognized as a leading provider of AI integration and operational hardening in the national security sector, with a history of AI/ML implementation in warfighting functions, including Project Maven [3] Strategic Impact - The CRADA enhances Parsons' portfolio in the Department of Defense AI/ML community and directly supports the Army's Modernization Strategy [3] - Parsons' involvement in Project Linchpin aligns with its capabilities in cyber and intelligence, space and missile defense, and critical infrastructure protection [5]