Parsons Corporation (NYSE: PSN) is a global provider of integrated solutions and services that address complex security challenges and support digital transformation. The company specializes in delivering advanced technical solutions for national security and critical infrastructure markets. Its offerings include cybersecurity, intelligence, missile defense, space operations, transportation, water systems, and environmental remediation services.
- Federal Solutions - Delivers advanced technical solutions to the U.S. government, focusing on cybersecurity, intelligence, missile defense, C5ISR (Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance), and space operations.
- Critical Infrastructure - Provides engineering and management services for physical and digital infrastructure, including transportation systems, water and wastewater projects, environmental remediation, urban development, and critical infrastructure protection.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Carey A. Smith ExecutiveBoard | President, CEO, and Chair of the Board | Board Member at Edison International, Professional Services Council, and Saudi-Arabia Parsons Ltd (SAPL). | Carey A. Smith joined Parsons in November 2016, became CEO on July 1, 2021, and Chair on April 14, 2022. She has 39 years of industry experience and has led Parsons' transformation and received multiple awards. | |
Matthew M. Ofilos Executive | Chief Financial Officer | None. | Matthew M. Ofilos joined Parsons in 2021 and became CFO on July 25, 2022. He has over 20 years of finance experience and previously led finance organizations at AWS and Raytheon. | |
Michael R. Kolloway Executive | Chief Legal Officer | Board Member at MUSE/IQUE. | Michael R. Kolloway joined Parsons in October 2017 as General Counsel and became Chief Legal Officer in January 2019. He oversees legal operations, risk management, and corporate governance. | |
Darren W. McDew Board | Director | Board Member at Abbott Laboratories, USAA, and General Electric. | Darren W. McDew has been a director at Parsons since 2020. He has a distinguished military career, including serving as Commander of USTRANSCOM. | |
David C. Wajsgras Board | Director | CEO of Intelstat. | David C. Wajsgras has been a director at Parsons since 2020. He has extensive experience in the aerospace and defense industry and previously served as president of Raytheon's IIS business. | |
Ellen M. Lord Board | Director | Board Member at AAR Corporation, Comtech Telecommunications Corporation, and Voyager Space Holdings. | Ellen M. Lord joined Parsons in 2022. She previously served as Under Secretary of Defense for Acquisition and Sustainment and CEO of Textron Systems. | |
George L. Ball Board | Director | Board Member at BrandSafway, Cornerstone Building Brands, Inc., and Wells Fargo Real Estate Investment Corporation. | George L. Ball joined Parsons in 1995, served as CFO from 2008 to 2022, and became a Director in July 2022. He played a key role in Parsons' IPO in 2019. | |
Harry T. McMahon Board | Director | Executive Advisor to G100 Companies, Director of Direct Relief, Trustee of Claremont McKenna College. | Harry T. McMahon has been a director at Parsons since 2018. He has extensive investment banking experience and has worked on over 400 projects in various industries. | |
Letitia A. Long Board | Director | Chairwoman of INSA, Board Member at T-Mobile U.S. and COPT Defense Properties. | Letitia A. Long has been a director at Parsons since 2020. She has a background in intelligence and technology, having served as Director of the NGA and Deputy Director of the DIA. | |
M. Christian Mitchell Board | Director | Director at Pacific Premier Bancorp, AG Mortgage Investment Trust, Vice Chairman at Marshall and Stevens. | M. Christian Mitchell has been a director at Parsons since 2011. He is a financial expert and serves on the Audit and Risk Committee. | |
Mark K. Holdsworth Board | Director | Chairman of RF Industries, Board Member at PlantsExpress.com, Founder of The Holdsworth Group, LLC. | Mark K. Holdsworth has been a director at Parsons since 2006. He has extensive board experience and specializes in active management oversight and strategy. | |
Steven F. Leer Board | Lead Independent Director | Board Member at Norfolk Southern Corporation. | Steven F. Leer has been a director at Parsons since 2013 and was appointed Lead Independent Director in April 2022. He has extensive experience in corporate governance and financial oversight. | |
Suzanne M. Vautrinot Board | Director | Board Member at CSX Corp., Ecolab Inc., and Wells Fargo & Company. | Suzanne M. Vautrinot has been a director at Parsons since 2014. She has a background in cybersecurity and was a Major General in the USAF. |
Research analysts who have asked questions during PARSONS earnings calls.
Andrew J. Wittmann
Robert W. Baird & Co.
4 questions for PSN
Sheila Kahyaoglu
Jefferies
4 questions for PSN
Tobey Sommer
Truist Securities, Inc.
4 questions for PSN
Louie DiPalma
William Blair
3 questions for PSN
Noah Poponak
Goldman Sachs
3 questions for PSN
Alexander Dwyer
KeyBanc Capital Markets
2 questions for PSN
Gautam Khanna
TD Cowen
2 questions for PSN
Joshua Sullivan
The Benchmark Company
2 questions for PSN
Mariana Perez Mora
Bank of America
2 questions for PSN
Alex Dwyer
KeyBanc Capital Markets
1 question for PSN
Cai von Rumohr
TD Cowen
1 question for PSN
Jonathan Siegmann
Stifel Financial Corp.
1 question for PSN
Samantha Stiroh
Bank of America
1 question for PSN
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
A peer in the Federal Solutions segment, categorized as a U.S. federal systems integrator and service provider. | |
A peer in the Federal Solutions segment, categorized as a U.S. federal systems integrator and service provider. | |
A peer in the Federal Solutions segment, categorized as a U.S. federal systems integrator and service provider. | |
A peer in the Federal Solutions segment, categorized as a U.S. federal systems integrator and service provider. | |
A peer in the Critical Infrastructure segment, categorized as a provider of infrastructure solutions. | |
A peer in the Critical Infrastructure segment, categorized as a provider of infrastructure solutions. | |
A peer in the Critical Infrastructure segment, categorized as a provider of infrastructure solutions. | |
A peer in the Critical Infrastructure segment, categorized as a provider of infrastructure solutions. | |
WSP | A peer in the Critical Infrastructure segment, categorized as a provider of infrastructure solutions. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
BCC Engineering, LLC | 2024 | Parsons Corporation entered an all-cash deal worth $230 million to acquire BCC Engineering, LLC, expanding its infrastructure leadership and geographic footprint in the Southeastern U.S. with enhanced planning, design, and management engineering services. |
BlackSignal Technologies, LLC | 2024 | Parsons Corporation completed the acquisition of BlackSignal Technologies, LLC on August 16, 2024, for approximately $203.8 million in cash, thereby enhancing its offensive cyber operations and electronic warfare capabilities while adding incremental revenue and key digital signal processing assets. |
Sealing Technologies, Inc. (SealingTech) | 2023 | Parsons Corporation acquired SealingTech on August 23, 2023 for $181.7 million in cash, with an earn-out potential of up to $25 million tied to revenue targets, to broaden its full-spectrum cyber operations and integrate critical technologies and customer bases. |
IPKeys Power Partners | 2023 | Parsons Corporation acquired IPKeys Power Partners on April 13, 2023 for between $43.0 million and $43.4 million in cash, positioning itself to serve the growing markets of grid modernization and cyber resiliency for critical infrastructure, while integrating key software platform solutions and customer relationships. |
Xator Corporation | 2022 | Parsons Corporation completed the acquisition of Xator Corporation on May 31, 2022 for $388.3 million in cash, partially funded by a $300 million credit facility, to expand its critical infrastructure protection and counter-unmanned aircraft systems capabilities, which contributed approximately $71 million in Q3 2022 revenue along with significant goodwill and intangible assets. |
Recent press releases and 8-K filings for PSN.
- Parsons reported strong Q3 2025 results, with total revenue growth of 14% and organic revenue growth of 9% (excluding a confidential contract), alongside a 60 basis point expansion in adjusted EBITDA margin to 9.8%.
- The company generated $163 million in cash flow from operations and maintained a book-to-bill ratio of 1.0 times for the quarter and trailing twelve months.
- For the full year 2025, Parsons updated its revenue guidance to $6.4 billion - $6.5 billion due to timing delays, while reiterating adjusted EBITDA guidance of $600 million - $630 million.
- Significant contract wins in Q3 included a $665 million extension for the Hudson Tunnel Project and new defense and security contracts, contributing to a backlog of $8.8 billion and nearly $10 billion in awards awaiting notice.
- After the quarter ended, Parsons acquired Applied Sciences Consulting to strengthen its presence in the water market and repurchased $25 million in shares during Q3.
- PSN reported Q3 2025 total revenue of $1.6 billion and net income of $64 million. Total revenue increased 14% and 9% organically (excluding a confidential contract).
- Adjusted EBITDA margin expanded 60 basis points to 9.8%, reaching $158 million. The company also generated $163 million in cash flow from operations.
- The book-to-bill ratio was 1.0x, and backlog increased by $48 million to $8.8 billion, with 72% funded, marking the highest level since the IPO.
- After Q3 2025, PSN acquired Applied Sciences Consulting to enhance its water expertise and strengthen its presence in Florida.
- PSN modified its FY25 revenue outlook to $6,400 - $6,500 million but reiterated its adjusted EBITDA and cash flow guidance at the mid-point.
- Parsons reported Q3 2025 revenue of $1.6 billion, a 10% year-over-year decrease, and net income of $64 million, an 11% decrease from the prior year.
- Adjusted EBITDA decreased 5% to $158 million in Q3 2025, though the adjusted EBITDA margin expanded 60 basis points to 9.8%.
- The company's total backlog increased to $8.8 billion, and it maintained a 1.0x book-to-bill ratio for the quarter.
- Parsons is modifying its fiscal year 2025 revenue guidance to a range of $6,400 million - $6,500 million.
- Significant contract wins in Q3 2025 included a $665 million extension for the Hudson Tunnel Project and prime positions on multiple-award IDIQ contracts with a combined ceiling value of $43.5 billion.
- Parsons reported Q3 2025 revenue of $1.6 billion, a 10% decrease year-over-year, and net income of $64 million.
- Adjusted EBITDA decreased 5% to $158 million, but the adjusted EBITDA margin expanded 60 basis points to 9.8%.
- The company's total backlog increased to $8.8 billion, maintaining a book-to-bill ratio of 1.0x.
- Parsons is modifying its fiscal year 2025 revenue outlook while reiterating adjusted EBITDA and cash flow guidance ranges at the mid-point.
- Significant contract wins in Q3 2025 included four contracts over $100 million each and prime positions on multiple-award IDIQ contracts with a combined ceiling value of $43.5 billion.
- Parsons Corporation (NYSE: PSN) has been awarded two new contracts with a combined value of over $100 million from Middle East government customers.
- The contracts involve program management and design engineering for regional national security infrastructure programs and border security infrastructure.
- This new work represents an expansion of Parsons' defense and security portfolio, leveraging its existing presence and expertise in the Middle East since the 1950s.
- Parsons Corporation (NYSE: PSN) was awarded a $56 million (SAR 210 million), 5-year contract for Phase 2 of the Diriyah project by Diriyah Company in the first half of 2025.
- This contract represents new work for Parsons.
- Parsons' scope includes the design and delivery of parks, open spaces, and over 55km of streetscape, as well as design and construction supervision of Diriyah Phase 2: Public Realm.
- Diriyah Company, a Public Investment Fund (PIF)-owned entity, is developing Diriyah as a key component of Saudi Arabia's Vision 2030.
- Parsons Corporation (NYSE: PSN) was awarded a seat on the Worldwide Expeditionary Multiple Award Contract (WEXMAC), Territorial Integrity of the U.S. (TITUS) 2.1 by the U.S. Naval Supply Systems Command.
- This Indefinite Delivery Indefinite Quantity (IDIQ) contract has a $10 billion ceiling value.
- The contract includes a five-year base period and one five-year option period, providing critical supplies and services for U.S. military and coalition partner operations, humanitarian assistance, and disaster relief.
- Under this contract, Parsons will compete for task orders to support U.S. Navy operational requirements such as theater opening, sustainment, distribution, stability operations, and civil support.
- MPA Delivery Partners, which includes Parsons (NYSE: PSN), has been awarded a $665 million, 4.5-year contract extension by the Gateway Development Commission (GDC) to continue managing the delivery of the Hudson Tunnel Project (HTP).
- The HTP, considered the most urgent rail infrastructure project in the United States, is on-schedule for the new Gateway Tunnel completion in 2035 and the existing tunnel's rehabilitation by 2038.
- The project is expected to create over 95,000 jobs and generate more than $19 billion in economic activity across the United States.
- Parsons Corporation (NYSE: PSN), through its joint venture with Versar, was awarded a $75 million single award delivery order contract by the United States Army Corps of Engineers (USACE) Middle East District.
- The contract is for construction phase support services (CPSS) and includes a three-year base period of performance and a two-year option period.
- Parsons serves as the managing partner of the joint venture.
- This award is the third CPSS contract iteration for Parsons-Versar, which has provided these services to the USACE Middle East District on over 60 task orders in the past 12 years.
- Parsons Corporation (PSN) has been appointed as the Project Management Consultant (PMC) for the Dubai Metro Blue Line project by the government of Dubai’s Roads and Transport Authority (RTA).
- This contract represents new work for Parsons and spans five years, with the company providing comprehensive project management services including design review, construction supervision, and testing and commissioning oversight.
- The Dubai Metro Blue Line will span 30 kilometers and include 14 stations, with operations expected to commence in 2029.
- The project is a key component of Dubai’s D33 Economic Agenda and is expected to accommodate up to 320,000 passengers per day upon completion.