|Over a week ago|
Parsons selected for U.S. Air Force ABMS contract with $950M ceiling » 07:2706/1006/10/20
Parsons has been awarded…
Parsons has been awarded a $950M ceiling indefinite-delivery/indefinite-quantity contract for the maturation, demonstration and proliferation of capabilities across platforms and domains, leveraging open systems design, modern software and algorithm development in order to enable Joint All Domain Command and Control.
|Over a month ago|
Parsons to develop digital coronavirus detector » 16:0605/1805/18/20
Parsons Corporation announced that the company has partnered with Fraunhofer USA to develop and commercialize a diamond electrode biosensor for direct and rapid detection of SARS-CoV-2, the virus that causes coronavirus, or COVID-19. Initial testing and development of the prototype is anticipated this summer, in time to help mitigate concerns of a lingering pandemic or a possible rebound.
Parsons backs FY20 revenue guidance of $3.95B-$4.05B, consensus $3.94B » 06:4905/0605/06/20
Backs FY20 adjusted…
Backs FY20 adjusted EBITDA guidance of $330M-$360M. Net income guidance is not presented as the company believes market volatility in its share price and the resulting impact on the company's equity-based compensation expense and net income will preclude the company from providing accurate projections for FY20.
Parsons reports Q1 adj. EPS 33c, consensus 26c » 06:4705/0605/06/20
Reports Q1 revenue $971M,…
Reports Q1 revenue $971M, consensus $916.57M. "I would like to send our deepest sympathies to all who have been affected by the COVID-19 pandemic. These are challenging times for everyone, and we will continue to put the safety and well-being of our employees, customers and partners first," said Chuck Harrington, Chairman and CEO of Parsons. "In what was an unprecedented first quarter, we delivered strong organic revenue growth and achieved profitability results that exceeded our internal plan. We continue to win high-end work in our Federal Solutions market and delivered revenue growth in our Critical Infrastructure segment. Our strong balance sheet, low leverage, more than $400 million of undrawn revolver capacity, and our deep backlog positions us well to weather COVID-19 uncertainties."
Parsons price target raised to $39 from $33 at Wells Fargo » 07:5905/0505/05/20
Wells Fargo analyst Ed…
Wells Fargo analyst Ed Caso raised the firm's price target on Parsons to $39 from $33 ahead of quarterly results, while keeping an Underweight rating on the shares. The analyst highlights the company's uncertain exposure to Middle East clients and potential delays in capturing higher-margin, product-related revenue.
Parsons partnering with Battelle to disinfect masks for COVID-10 relief » 16:4304/2904/29/20
Parsons is working with…
Parsons is working with Battelle to operate the Battelle CCDS Critical Care Decontamination System that will disinfect N-95 masks and other personal protective equipment in support of pandemic relief efforts across the U.S. Parsons is immediately mobilizing field crews to operate units that use a hydrogen peroxide mist to decontaminate masks. Each unit can disinfect up to 80,000 masks per day allowing the masks to potentially be reused up to 20 times.
Sterling Construction awarded $80M aviation subcontract by Parsons » 09:1004/2104/21/20
Sterling Construction (STRL) has been awarded an $80M aviation subcontract by Parsons (PSN) for the reconstruction of the Bucholz Army Airfield Runway in the Kwajalein Atoll of the Marshall Islands. Efforts are a part of Parsons project with the U.S. Army Corps of Engineers. The project consists of paving a 200 foot by 6,000 foot runway in order to accommodate increased air traffic. Phasing will allow the runway to remain operational while construction occurs, as the strategic significance of the airfield does not allow reconstruction to close the runway. Logistics has commenced to transport aggregates, other materials and equipment to the airfield. The reconstruction project has an estimated completion date of mid-2021.
Parsons initiated with a Buy at Benchmark » 06:2804/1504/15/20
Benchmark analyst Josh…
Benchmark analyst Josh Sullivan initiated coverage of Parsons with a Buy rating.
Parsons awarded $32M intelligence contract » 11:1004/0804/08/20
Parsons Corporation was…
Parsons Corporation was awarded a $32M, two year contract by the Intelligence Community. The company will provide security assessment and protection of systems and critical infrastructure worldwide through a comprehensive analysis of risk and deployment of physical and technical security countermeasures.
|Over a quarter ago|
Parsons price target lowered to $33 from $42 at Wells Fargo » 08:3304/0204/02/20
Wells Fargo analyst Ed…
Wells Fargo analyst Ed Caso lowered the firm's price target on Parsons to $33 from $42 after reviewing the Stimulus Bill, while keeping an Underweight rating on the shares. The analyst believes there is likely to be some revenue interruption, reduced utilization, incremental response costs and some impact on DSO, but the group does not have credit risk and none face near-term debt maturity hurdles.