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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.
| 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. |
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.
- Refinancing Announcement: Parsons Corp announced the refinancing of its debt by entering into a new term loan and revolving credit facility on June 5, 2025.
- Term Loan Details: The company secured a $450M term loan with a three-year maturity and an option to increase by up to $150M, with flexible interest pricing and no mandatory amortization.
- Revolving Facility Terms: It also established a $750M revolving credit facility with a five-year maturity and an option to expand by up to $500M, replacing the previous facility and providing ongoing liquidity.
- Parsons Corp detailed its dual-segment strategy with approximately 52% revenue from federal contracts and 48% from critical infrastructure, highlighting strong performance in areas such as cyber, space & missile defense, transportation, and urban development.
- The company removed a major Department of State contract from guidance due to reduced volume following policy changes, while still targeting 17% total growth and 14% organic growth overall.
- Strategic emphasis was placed on federal modernization, including opportunities with FAA infrastructure modernization and the Golden Dome missile defense integration, alongside planned M&A to bolster their geographic and sectoral footprint.
- Guidance Update: Parsons revised full-year guidance by removing a contract impacted by a Department of State-related pause, expecting 17% total growth and 14% organic growth for the year.
- Backlog and Order Wins: The company highlighted a robust backlog of $9B (funded) and an additional $12B in awarded but not booked contracts, demonstrating strong federal and infrastructure demand.
- Margin Expansion and Strategic Investments: Parsons is set to expand margins by 30 basis points this year, further supported by investments in advanced software, AI applications, and strategic M&A, including the recent acquisition of TRS Group.
- Record Q1 2025 performance: Revenue reached $1.6 billion, net income climbed to $66 million, and earnings per share increased to $0.60 .
- Adjusted EBITDA highlights: EBITDA rose 5% to $149 million with an enterprise margin of 9.6% and a Critical Infrastructure margin of 10.3% .
- Robust backlog and pipeline: The company reported a record total backlog of $9.1 billion and a $55 billion pipeline .
- Segment dynamics & contract impact: Growth was driven by the Critical Infrastructure segment through organic expansion and acquisitions, despite a paused confidential federal contract due to an executive order .
- Strategic momentum: Improved operating cash flow with a $52 million boost, strong contract wins across key segments, and reiterated fiscal year 2025 guidance .
- Board of Directors approved increasing the stock repurchase authority to $250 million on March 20, 2025, reflecting confidence in the company’s strong operating results and cash flow.
- Media Contact for the filing is Bernadette Miller, whose contact information (mobile and email) is provided for investor relations inquiries.
- The filing notes that the share repurchase program’s execution remains subject to market conditions and other economic factors.
- SealingTech, a subsidiary of Parsons Corp (NYSE: PSN), was awarded a DoD Defense Innovation Unit agreement to support the development of its Joint Cyber Hunt Kit prototype.
- The agreement highlights the company's role in delivering rapid, agile cybersecurity solutions for U.S. national security and DoD missions.
- SealingTech has already demonstrated its capability by delivering over 500 Cyber-Fly-Away Kits since 2018, reinforcing its expertise in defensive cyber operations.