PSN Parsons

Parsons Delivering Future of Operational Dominance Capabilities to the U.S. Air Force

Parsons Delivering Future of Operational Dominance Capabilities to the U.S. Air Force

The firm secures seat on $900M Air Force Modeling, Simulation, and Analysis Contract

CENTREVILLE, Va., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has secured a seat on a $900 million multiple-award indefinite-delivery, indefinite-quantity (IDIQ) contract to support the Air Force’s mission of capability, planning, systems, and synthetic environment modeling and simulation analysis. The multiple-award contract has a five-year period of performance, with two option periods extending through November 2032, and marks new work for Parsons.

“As near-peer threats continue to evolve, it’s imperative that our forces are equipped to respond to increasingly complex adversary tactics across the air and space domains,” said Paul Decker, president, Defense and Intelligence for Parsons. “Parsons brings a distinct portfolio of agile systems-of-systems engineering, software development, and advanced weapon system modeling and simulation capabilities that are combat-proven and ready to support the Air Force in its ongoing mission to develop and sustain the nation’s elite fighting force of the future.”

Task orders available to Parsons through this contract vehicle will support the Air Force Life Cycle Management Center Architectures and Integration Directorate to develop and enable modeling, simulation and analysis; capability development and development planning; cost analysis and trades; technical risk reduction and test engineering; standards and architecture development and curation; software development and curation; and, development of advanced synthetic simulator environments for operational test and training.

For decades, Parsons has provided all-domain support to the Department of the Air Force, including mission strategy and planning, network operations, space-domain awareness operations, edge computing, full-spectrum cyber and next generation command and control systems.

To learn more about Parsons all-domain solutions, please visit:

About Parsons:

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure solutions. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Forward-Looking Statements:

This document 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 that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:

Angie Benfield        

+1 803.334.5277

Investor Relations Contact:

Dave Spille

+ 1 703.775.6191



EN
22/02/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Parsons

 PRESS RELEASE

Parsons’ Portfolio, Experience, and Strength as a Global Infrastructur...

Parsons’ Portfolio, Experience, and Strength as a Global Infrastructure Leader Shines as U.S. President Visits Middle East Visits to Parsons’ three major countries in the Middle East and leadership engagements with the President and the Delegation highlight the company’s regional strengths and alignment with Administration priorities CHANTILLY, Va., May 16, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) and its extensive Middle East portfolio were on full display during President Trump’s visit to the region this week. The President's itinerary included visits to Saudi Arabia, ...

 PRESS RELEASE

Parsons Selected As Delivery Partner For King Salman International Air...

Parsons Selected As Delivery Partner For King Salman International Airport CHANTILLY, Va., May 13, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today, on the sidelines of the Saudi-US Investment Forum in Riyadh, that the company has been awarded two Delivery Partner (DP) contracts by the King Salman International Airport Development Company (KSIADC) which is owned by the Public Investment Fund. These significant contracts represent new work for the company and span the initial four years of the airport's multi-year development. The first contract is for airfie...

 PRESS RELEASE

Parsons To Showcase Innovative All-Domain Technology Solutions At Spec...

Parsons To Showcase Innovative All-Domain Technology Solutions At Special Operations Forces Week 2025 CHANTILLY, Va., May 02, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) will showcase its latest innovations supporting the operational imperatives of United States Special Operations Forces at SOF Week, May 5-8, in Tampa, Florida. The company will present a dynamic range of solutions designed to transform irregular warfare and enhance autonomous search and rescue operations. Highlights include the powerful, next-generation mobile identity and biometrics platform, AresNXT, along...

 PRESS RELEASE

Parsons Reports Record First Quarter 2025 Results

Parsons Reports Record First Quarter 2025 Results Q1 2025 Financial Highlights Record Q1 revenue of $1.6 billion increases 1% year-over-year; decreases 2% on an organic basis11% revenue growth excluding confidential contract; increases 7% on an organic basisRecord Q1 net income of $66 million increases $26 million year-over-yearRecord Q1 earnings per share increases 61% to $0.60Record Q1 adjusted EBITDA increases by 5% to $149 million; record adjusted EBITDA margin of 9.6% increases 40 basis pointsStrong book-to-bill ratio of 1.1x supported by a 1.4x ratio in the company's Critical Infrast...

 PRESS RELEASE

King Salman Park Foundation Selects Parsons for Project Management Off...

King Salman Park Foundation Selects Parsons for Project Management Office Services CHANTILLY, Va., April 23, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been awarded a contract for Project Management Office (PMO) services by the King Salman Park Foundation for King Salman Park. This 25-month contract marks new work for Parsons. King Salman Park is one of the world's most unique urban transformation projects, featuring 11.6 sq km of green space and over 10 sq km of built-up area. The Park includes cultural landmarks such as the Royal Arts Complex an...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch