PSN Parsons Corp.
Parsons Corp. provides engineering, design, planning, and construction management services. It offers solutions for commercial, federal, transportation, and water resources. The firm delivers engineering, construction, systems and resource integration, project and program management, and environmental services to customers. Its business segments include Federal Solutions and Critical Infrastructure. The Federal Solutions segment provides advanced technologies, including cybersecurity, missile defense systems, C5ISR, space launch and situational awareness, geospatial intelligence, RF signals intelligence, nuclear and chemical waste remediation, and engineering services. The Critical Infrastructure segment provides integrated design and engineering services for complex physical and digital infrastructure around the globe. The company was founded by Ralph Monroe Parsons on June 12, 1944 and is headquartered in Centreville, CA.
Company profile
Ticker
PSN
Exchange
Website
CEO
Charles L. Harrington
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Parson Corp
SEC CIK
Corporate docs
IRS number
953232481
PSN stock data
()
Calendar
6 May 20
8 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 970.99M | 1.04B | 1.02B | 989.74M | |
| Net income | 14.37M | 22.3M | 61.29M | 40.15M | |
| Diluted EPS | 0.13 | 0.14 | 0.57 | 0.44 | |
| Net profit margin | 1.48% | 2.15% | 5.99% | 4.06% | |
| Operating income | 23.7M | 24.27M | 53.45M | -8.71M | |
| Net change in cash | -63.39M | 48.82M | -68.98M | 81.45M | |
| Cash on hand | 119.3M | 182.69M | 133.87M | 202.85M | |
| Cost of revenue | 769.63M | 825.55M | 798.55M | 784.72M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | |
|---|---|---|---|---|
| Revenue | 3.95B | 3.56B | 3.02B | |
| Net income | 137.13M | 239.44M | 111.54M | |
| Diluted EPS | 1.3 | 2.78 | 1.16 | |
| Net profit margin | 3.47% | 6.72% | 3.70% | |
| Operating income | 92.06M | 205.01M | 150.7M | |
| Net change in cash | -97.53M | -165.92M | ||
| Cash on hand | 182.69M | 280.22M | 446.14M | |
| Cost of revenue | 3.12B | 2.8B | 2.4B |
Financial data from Parsons earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 1 Jul 20 | Wajsgras David C | Common Stock | Grant | Aquire A | No | 38.18 | 782 | 29.86K | 782 |
| 21 Apr 20 | Leer Steven F | RSU Common Stock | Grant | Aquire A | No | 0 | 4,790 | 0 | 4,790 |
Institutional ownership Q1 2020
99.5% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 127 |
| Opened positions | 32 |
| Closed positions | 22 |
| Increased positions | 43 |
| Reduced positions | 37 |
13F shares |
Current |
|---|---|
| Total value | 3.2B |
| Total shares | 100.14M |
| Total puts | 12.4K |
| Total calls | 54.6K |
| Total put/call ratio | 0.2 |
Largest owners |
Shares | Value |
|---|---|---|
| Newport Trust | 78.41M | $2.51B |
| N Price T Rowe Associates | 2.24M | $71.68M |
| Vanguard | 1.83M | $58.59M |
| BLK BlackRock | 1.49M | $47.76M |
| STT State Street | 1.35M | $43.19M |
| Alkeon Capital Management | 1.24M | $39.6M |
| TimesSquare Capital Management | 1.07M | $34.1M |
| FMR | 1M | $31.96M |
| WFC Wells Fargo & Company | 996.34K | $31.84M |
| Nuveen Asset Management | 927.46K | $29.64M |
Financial report summary
?Competition
CACI International • Tetra Tech • ManTech International • Lockheed Martin • Northrop Grumman • Leidos • Science Applications International • PAERisks
- Our business, results of operations, financial condition, cash flows and stock price can be adversely affected by pandemics, epidemics or other public health emergencies, such as the recent outbreak of COVID-19.
Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
- The statements in this discussion regarding industry outlook, our expectations regarding our future performance, liquidity and capital resources and other non-historical statements in this discussion are forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the risks and uncertainties described in “Risk Factors” and “Special Note Regarding Forward-Looking Statements” in the Company’s Form 10-K for the year ended December 31, 2019. We undertake no obligation to revise publicly any forward-looking statements. Actual results may differ materially from those contained in any forward-looking statements.
- In response to the COVID-19 pandemic, the Company has taken certain actions to continue to execute under our contracts with customers and allow our people to work safely. A substantial majority of our work-force transitioned to work-from-home status during the latter part of the quarter ended March 31, 2020, and these practices remain in effect as of the date of this filing. To date, we have experienced no material disruption in our work as a consequence of these changes in our work practices.
Content analysis
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New words:
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Current reports
8-K
Departure of Directors or Certain Officers
26 Jun 20
8-K
Parsons Delivers Strong First Quarter 2020 Revenue Growth
6 May 20
8-K
Submission of Matters to a Vote of Security Holders
1 May 20
8-K
Parsons Delivers Strong Fourth Quarter and Full Year 2019 Results on Solid Revenue Growth
10 Mar 20
8-K
Departure of Directors or Certain Officers
5 Dec 19
8-K
Departure of Directors or Certain Officers
14 Nov 19
8-K
Parsons Delivers Strong Third Quarter Results; Momentum in Core Markets
12 Nov 19
8-K
Departure of Directors or Certain Officers
18 Oct 19
8-K
Results of Operations and Financial Condition
13 Aug 19
8-K
Revenue of $904 million, 20% increase from the first quarter of 2018
18 Jun 19
Registration and prospectus
Other
EFFECT
Notice of effectiveness
8 May 19
CORRESP
Correspondence with SEC
3 May 19
CORRESP
Correspondence with SEC
3 May 19
CORRESP
Correspondence with SEC
2 May 19
CORRESP
Correspondence with SEC
29 Apr 19
UPLOAD
Letter from SEC
23 Apr 19
CORRESP
Correspondence with SEC
12 Apr 19
UPLOAD
Letter from SEC
4 Apr 19
Ownership
4
PARSONS / DAVID C WAJSGRAS ownership change
6 Jul 20
3
PARSONS / DAVID C WAJSGRAS ownership change
1 Jul 20
3
PARSONS / Darren W McDew ownership change
1 Jul 20
4/A
PARSONS / Carey A. Smith ownership change
30 Apr 20
4/A
PARSONS / Michael Richard Kolloway ownership change
30 Apr 20
4/A
PARSONS / Charles L. Harrington ownership change
30 Apr 20
4/A
PARSONS / George L. Ball ownership change
30 Apr 20
4
PARSONS / M CHRISTIAN MITCHELL ownership change
23 Apr 20
4
PARSONS / Mark Keith Holdsworth ownership change
23 Apr 20
4
PARSONS / JAMES F MCGOVERN ownership change
23 Apr 20