ParsonsNYSE: PSN

Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S. Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S.

Parsons (PSN) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

Parsons Corporation (NYSE:PSN ) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET Company Participants Dave Spille - Senior Vice President, Investor Relations Carey Smith - Chair, President and CEO Matt Ofilos - Chief Financial Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Andrew Wittmann - Baird Cai von Rumohr - TD Cowen Tobey Sommer - Truist Securities Alex Dwyer - KeyBanc Capital Josh Sullivan - The Benchmark Company Louie DiPalma - William Blair Noah Poponak - Goldman Sachs Operator Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2024 Parsons Corporation Earnings Conference Call.

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 Record cash flow from operations increases by $95 million to $299 million; record trailing twelve-month operating cash flow of $587 million increases 91% over the prior twelve-month period Contract awards increase 24% to $1.8 billion, a third quarter record Announced and closed BlackSignal Technologies acquisition After Q3 2024 ended, Parsons entered into a definitive agreement to acquire BCC Engineering, LLC Increasing fiscal year 2024 guidance ranges for all financial metrics CHANTILLY, Va., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced financial results for the third quarter ended September 30, 2024.

Parsons (PSN) is well positioned to outperform the market, as it exhibits above-average growth in financials.

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-year option periods.

Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S. Acquisition strategically enhances Parsons' infrastructure capabilities in the Southeast U.S.

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 support of Environmental Protection Agency (EPA) cleanup projects that protect public health and safety.

CHANTILLY, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company has been awarded two contracts worth $25 million to perform design engineering for a Middle East transportation customer. With the same customer, Parsons has won more than $90 million in contract awards over the last 9 months.