PARSONS

At the Jefferies Global Industrials Conference, Parsons said order intake in the federal segment accelerated markedly (book-to-bill 1.4/1.3), with a backlog of $9.3 billion and $11 billion of awarded but not yet booked contracts. Management expects mid-term revenue growth in the mid single-digit percent range, normalized margins in the high-9% to low-10% range, and free cash flow conversion of about 115% of adjusted net income. Drivers include large awards in defense, cyber, space, PFAS remediation and infrastructure, as well as acquisitions and AI tools; at the same time there are operational challenges on remote legacy projects and a one-time charge in the federal segment. » Mere på de.investing.com

Parsons announced the win of a contribution to the COMET framework agreement, covering multiple tasks with a value of up to about $14 billion. Subsidiary SealingTech also received a five-year sole-source contract from U.S. Cyber Command worth up to $750 million for the serial production of the Joint Cyber Hunt Kit. The announcements boosted confidence in near-term revenue and pushed the stock up about 1.4%, supporting the recovery since the 52-week low at the end of July. » Mere på de.investing.com

Parsons has received a second contract option worth $514 million from the Missile Defense Agency under the TEAMS‑Next program. The two‑year award covers technical and engineering support services for studies, analyses, assessments and oversight of the integrated missile defense system. Parsons will support programs to counter ballistic missiles and hypersonic weapons and will continue to provide systems engineering, integration and subject‑matter expertise for national missile defense. » Mere på de.investing.com

Parsons shares rose intraday about 4% to $47.91 after Baird upgraded the rating from Neutral to Outperform and raised the price target from $48 to $57. Baird expects an earnings acceleration in H2 supported by $400 million in one‑time adjustments, seasonal mining projects and a JCHK program, as well as the prospect of approval for a controversial $190 million contract. In addition, Parsons reported a selection for a $350 million framework agreement from the Naval Information Warfare Center Pacific for the “Seabed to Space ISR” program; potential FAA contracts could boost the revenue pipeline by up to $800 million. » Mere på de.investing.com

Parsons was selected by the Naval Information Warfare Center Pacific for a $350 million framework contract to support the Seabed to Space Intelligence Surveillance Reconnaissance (S2ISR) program. The contract covers research, development, test, evaluation, as well as technical engineering and cybersecurity services for ISR and information operations capabilities. Parsons will compete for task orders to support systems from initial development through fielding to sustainment and will provide solutions for the space, air, land and sea domains, including autonomous platforms, satellite systems and tactical communications networks. » Mere på de.investing.com