Parsons Corp ( (PSN) ) has released its Q4 earnings. Here is a breakdown of the information Parsons Corp presented to its investors.
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Parsons Corporation, a prominent player in the national security and global infrastructure markets, specializes in offering innovative solutions across cyber and intelligence, space and missile defense, and critical infrastructure protection sectors.
Parsons Corp has reported record financial results for the fourth quarter and fiscal year 2024, marking the highest performance since its IPO. The company achieved significant revenue and net income growth, driven by strong organic growth and strategic acquisitions.
Key highlights include a 16% year-over-year increase in fourth-quarter revenue to $1.7 billion and a 24% increase in full-year revenue to $6.8 billion. The company also saw a substantial rise in net income, reaching $235 million for the fiscal year, up 46% from the previous year. Notably, adjusted EBITDA grew by 30% for the year, underscoring effective cost management and successful contract execution. Parsons also secured $7.0 billion in contract awards for the year, reflecting a 17% increase.
Looking ahead, Parsons is optimistic about maintaining its growth trajectory, with expectations of mid-single-digit organic revenue growth and continued margin expansion. The company’s strategic positioning in growth markets and robust portfolio are anticipated to drive sustained shareholder value.
