Latest news with #Parsons'
Yahoo
2 days ago
- Business
- Yahoo
Parsons Selected for the Austin-Bergstrom International Airport Program Management Contract
CHANTILLY, Va., June 03, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was one of seven lead consultants selected by the City of Austin to provide program management services in support of the Rolling Capital Improvement Program and the once-in-a-generation Journey With AUS, the expansion and development program for the Austin-Bergstrom International Airport (AUS). Under the contract, consultants will provide comprehensive program management support services to supplement the City's Department of Aviation staff with qualified professionals in program, project, and construction management to ensure the timely and efficient delivery of projects. "We have served as a trusted partner in Texas for over 60 years and are honored to continue supporting Austin's growth and development," said Sean Tenney, Texas regional manager for Parsons' Infrastructure North America division. "Our team is dedicated to delivering exceptional program management services that will help modernize AUS and drive economic growth in the region. We look forward to collaborating with the City and other stakeholders to achieve the project's goals." The Journey With AUS program is a comprehensive five to seven-year initiative designed to modernize and expand AUS to meet the region's growing demands. The project includes expanding the Barbara Jordan Terminal, new facilities, infrastructure improvements, enhanced parking and ground transportation, sustainability initiatives, technology upgrades, and commercial development. It aims to increase capacity and improve operational efficiency while elevating the passenger journey with an authentic Austin and Central Texas experience. Parsons has a rich history of combining international expertise with regional strength to deliver innovative infrastructure projects that bring people closer together. The company has planned, designed, constructed, managed, enhanced, and sustained terminal, landside and airside infrastructure for over 450 airports in 40 countries. With extensive international project experience, Parsons has a deep understanding of global agency standards in accordance with the Federal Aviation Administration, the International Civil Aviation Organization, and the International Air Transport Association. To learn more about Parsons' aviation expertise, visit About Parsons Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit 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:Chelsie McKittrick+1 Investor Relations Contact:Dave Spille+1 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
7NEWS
4 days ago
- Politics
- 7NEWS
Tributes for Australian veteran lost in Ukraine landmine blast
Family and friends will gather this week to honour a 28-year-old Australian veteran killed clearing landmines in Ukraine. Nick Parsons was working with UK-based humanitarian group Prevail Together when he suffered fatal injuries near the city of Izyum in eastern Ukraine last month. The blast also claimed the life of British co-founder Chris Garrett and left a third person critically injured. Known affectionately as 'Nic' among friends, Parsons was remembered by close mate Lachie Romer as someone who brought light and laughter wherever he went. 'Nic was ... always up for a laugh, always there when you needed him, and someone who made life better just by being in it,' Romer wrote in a fundraiser to support Parsons' family and help cover funeral expenses. The campaign has seen an outpouring of support nationwide, raising over $20,000 in its first 15 hours. 'Let's come together and do this for Nic — for the good times, the laughs, and the memories we'll never forget,' Romer said. 'Rest easy, legend. 'We'll miss you forever.' A funeral service will be held on Thursday, June 5, at Morleys Funeral Home in Townsville, Queensland,followed by a memorial gathering at the Townsville RSL, where loved ones will share stories and celebrate Nicholas' life. Following the tragedy, Ukraine's ambassador to Australia, Vasyl Myroshnychenko, praised Parsons' courage and selflessness. 'Demining is one of those areas where your life is 50/50 — you can live or you can die. 'We are very thankful to him and for his courageous work in Ukraine.' Prime Minister Anthony Albanese also offered his condolences, confirming Parsons had been engaged in humanitarian work and not in combat. 'The situation is extremely dangerous and we continue to strongly advise all Australians not to travel to Ukraine under any circumstances,' Albanese said. The Department of Foreign Affairs and Trade is currently providing consular support to Parsons' family, while Prevail Together works alongside Ukrainian authorities to investigate the incident. Meanwhile, in a significant military development, a on Sunday. The operation, personally overseen by President Volodymyr Zelensky, reportedly took more than 18 months to plan. The attack came just one day ahead of new direct talks between Russia and Ukraine in Istanbul, as Russian forces continued to bombard Ukrainian cities with missiles and drones.
Time of India
16-05-2025
- Business
- Time of India
Dallas Cowboys and Micah Parsons locked in intense contract negotiations over $200 Million deal
Parsons' deal delay challenges Cowboys' plans (Image via: Getty Images) The Dallas Cowboys and Micah Parsons are at the center of a heated contract standoff grabbing the attention of NFL fans and experts alike. Reports claimed a handshake deal was already in place, but Parsons quickly took to social media to label those rumors as completely false. The core issue is Parsons seeking a massive $200 million extension that would not only break records for defensive players but also make him the highest-paid non-quarterback in NFL history, surpassing Ja'Marr Chase's recent $161 million deal. Micah Parsons contract talks highlight Dallas Cowboys' salary cap pressure Do Ravens or Bills have better odds of winning SB, Micah Parsons: Cowboys will have 12 wins | SPEAK Micah Parsons is no ordinary player. As a four-time Pro Bowler and two-time All-Pro, his dominance on the field has earned him superstar status. The Dallas Cowboys have shown they are willing to invest heavily in their top talent, recently signing Dak Prescott and CeeDee Lamb to major contracts. However, Parsons' contract negotiations are progressing at a different pace, raising questions about the team's salary cap flexibility and their approach to negotiations. Some wonder if the Cowboys are holding back to control Parsons' demands, or if they are simply limited by the financial commitments they have already made. Adding to the uncertainty is the public clash between media reports and Parsons' own statements, which has created confusion about the transparency of the talks. The longer the Cowboys delay, the more leverage Parsons gains, especially since his current contract only covers this season. The possibility of a holdout is becoming more real, which could disrupt Dallas' defensive plans and affect team chemistry. Also Read: Is Travis Kelce escaping to $20M Florida estate amid NFL offseason and media spotlight on relationship with Taylor Swift? In the end, both Parsons and the Cowboys appear committed to building a future together. The key question is how much Dallas is willing to pay to keep their defensive star. Contracts of this size are rare in today's NFL and require a careful balance between player value and salary cap management. As the season opener nears, pressure is mounting for both sides to reach an agreement. Whether the Cowboys finalize the deal or the standoff continues, the outcome will play a major role in shaping the team's competitive future and could redefine the market for defensive players across the league. Get IPL 2025 match schedules , squads , points table , and live scores for CSK , MI , RCB , KKR , SRH , LSG , DC , GT , PBKS , and RR . Check the latest IPL Orange Cap and Purple Cap standings.
Yahoo
14-05-2025
- Business
- Yahoo
PSN Q1 Earnings Call: Revenue Misses Estimates, Guidance Raised Amid Federal and Infrastructure Tailwinds
Infrastructure and defense services provider Parsons (NYSE:PSN) missed Wall Street's revenue expectations in Q1 CY2025 as sales only rose 1.2% year on year to $1.55 billion. On the other hand, the company's full-year revenue guidance of $7.25 billion at the midpoint came in 1.3% above analysts' estimates. Its non-GAAP profit of $0.78 per share was 5.1% above analysts' consensus estimates. Is now the time to buy PSN? Find out in our full research report (it's free). Revenue: $1.55 billion vs analyst estimates of $1.6 billion (1.2% year-on-year growth, 3.1% miss) Adjusted EPS: $0.78 vs analyst estimates of $0.74 (5.1% beat) Adjusted EBITDA: $148.8 million vs analyst estimates of $142.2 million (9.6% margin, 4.6% beat) The company reconfirmed its revenue guidance for the full year of $7.25 billion at the midpoint EBITDA guidance for the full year is $675 million at the midpoint, in line with analyst expectations Operating Margin: 7%, in line with the same quarter last year Free Cash Flow was -$25.26 million compared to -$72.86 million in the same quarter last year Backlog: $9.07 billion at quarter end, in line with the same quarter last year Market Capitalization: $6.98 billion Parsons' first quarter results were influenced by mixed trends across its two core segments. Management attributed modest top-line growth to strong execution in Critical Infrastructure, which offset a reduction in volume on a confidential federal contract due to a government review. CEO Carey Smith emphasized that, excluding the confidential contract, organic revenue growth was solid, driven by large contract wins and ongoing momentum in North America and the Middle East infrastructure markets. She also noted that margin expansion was supported by a deliberate focus on high-value services such as program management and design engineering. Looking ahead, management reaffirmed its full-year revenue and EBITDA guidance, citing an expanding backlog, strong win rates, and robust demand for both infrastructure and federal solutions. Smith pointed to alignment with government spending priorities, such as defense modernization and global infrastructure investment, as key drivers for the rest of the year. She added that the company is positioned to benefit from potential federal budget increases and long-term infrastructure spending cycles, while also monitoring any developments affecting the confidential contract. Parsons' leadership identified several business developments that shaped the quarter and laid the groundwork for the rest of the year. The following bullet points summarize management's qualitative insights into the latest performance: Confidential Contract Impact: Reduced volume on a key confidential federal program due to a government review limited segment growth. Management clarified that the contract itself was not paused, but a related program was, lowering run rates to roughly 80% and creating some revenue headwind relative to expectations. Critical Infrastructure Momentum: The infrastructure segment delivered double-digit growth, with management citing ramp-up of large contract wins in North America and ongoing expansion in the Middle East. CEO Carey Smith highlighted strong hiring demand in Saudi Arabia and the United Arab Emirates, driven by major events and national development programs. Robust Backlog and Win Rates: Parsons reported a record $9.1 billion backlog and a 68% win rate on new contracts. The book-to-bill ratio in Critical Infrastructure reached 1.4, reflecting continued demand across its key markets. M&A and Portfolio Expansion: The acquisition of TRS Group enhanced Parsons' environmental remediation capabilities, particularly in PFAS (per- and polyfluoroalkyl substances) removal. Management described this as a force multiplier for its environmental services portfolio, with further acquisitions planned for the year. Federal Budget Alignment: Management discussed the company's alignment with upcoming increases in U.S. defense and infrastructure spending, noting participation in high-priority programs such as missile defense, aviation modernization, and cyber operations. They view the current federal budget environment as supportive for future growth across key end markets. Management's outlook for the remainder of the year hinges on ramping recently awarded contracts, continued infrastructure investment, and potential recovery in the confidential federal contract. The broader theme is leveraging strong market positioning in both infrastructure and defense to drive stable growth and margin expansion. Infrastructure Project Ramp-Up: Large-scale projects in North America and the Middle East are expected to accelerate, with management citing strong pipelines and increasing hiring activity to meet demand. Federal Solutions Growth: Anticipated increases in U.S. defense spending and new contract wins in cyber, missile defense, and aviation modernization are set to provide incremental revenue. Management is watching the timing and implementation of the reconciliation bill for additional upside. Contract Mix and Margin Risks: A higher proportion of cost-type federal contracts, as well as delays or reduced volumes in confidential programs, present margin and revenue risks. Management acknowledged that a return to higher-margin fixed-price work and stabilization of the confidential contract would be important for meeting full-year targets. Andrew Wittmann (Baird): Asked if strong Critical Infrastructure margins in a seasonally weak quarter reflected any unusual items or closeouts; management emphasized results were due to underlying business performance and accretive acquisitions, not one-off events. Mariana Perez Mora (Bank of America): Inquired about the resilience of federal contract awards and the impact of the reconciliation bill; management described the bill as front-loaded and supportive of areas where Parsons is well-aligned, including missile defense and aviation modernization. Sheila Kahyaoglu (Jefferies): Sought clarity on the revenue ramp in the second half and the drivers of 15% organic growth excluding the confidential contract; management cited ramp-up of previously won infrastructure and cyber contracts, as well as expected benefits from unbooked awards. Gautam Khanna (TD Securities): Questioned the risk of further negative impacts from government reviews (DOGE) and the confidential contract's outlook; management reported minimal impact from DOGE and stated the full-year guidance assumes a return to previously negotiated contract run rates. Tobey Sommer (Truist): Asked about the pace of M&A activity and opportunities in both segments; management expects two to three acquisitions this year, with a robust pipeline in Critical Infrastructure and select opportunities in Federal Solutions. Looking ahead, the StockStory team will be monitoring (1) the resolution and volume recovery of the confidential federal contract, (2) the pace of ramp-up for large infrastructure projects in North America and the Middle East, and (3) the impact of new U.S. federal budget allocations on contract awards and backlog. The trajectory of margin improvement and execution of planned acquisitions will also be key indicators of Parsons' performance. Parsons currently trades at a forward P/E ratio of 17.4×. Should you load up, cash out, or stay put? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
09-05-2025
- Business
- CNBC
Boeing gets a price target hike from UBS, which says the airplane maker can navigate tariff risk
Boeing shares could rally ahead as the aerospace giant is able to navigate the changing tariff environment, according to UBS. The bank raised its 12-month price target on the aerospace stock to $226 from $207, implying upside of 18% from Thursday's close. Analyst Gavin Parsons has a buy rating on Boeing. Parsons' target change comes after the U.S. unveiled the framework for a trade deal with the United Kingdom . While details are sparse, the agreement would keep a blanket 10% levy on British imports. BA YTD mountain BA YTD chart "Boeing has taken a proactive approach to addressing tariff risk, communicating that they will prioritize supply chain continuity over price negotiations / changing production schedules and quantifying the direct cost impact as < $500mn annually (full reciprocals, net of duty drawbacks)," he wrote. "We do not see tariffs materially impacting the [free cash flow] recovery; our $12.4bn 2027 free cash flow estimate incorporates a $500mn tariff impact," Parsons added. "We believe Boeing can fully absorb this impact and afford to support smaller suppliers financially should that supply chain support be needed, with higher MAX production the most significant driver of free cash flow in the model." To be sure, risks to Boeing's outlook include weaker air travel demand and supply chain issues, according to the analyst. "Supply chain issues have become less severe, but are entirely unpredictable and could lead to another delivery halt. Depending on the aircraft model and duration, this could drive lower cash flow, lower production rates, share loss to Airbus, and more, both near-term and long-term," he said. Boeing has gained 8% this year. Most analysts are bullish Boeing. Of the 29 who cover it, 20 rate it a buy or strong buy, according to LSEG.
