Parsons Corporation Named to S&P MidCap 400

Rhea-AI Summary

Parsons (NYSE: PSN) has been named to the S&P MidCap 400 Index, effective September 23, 2024. This milestone reflects the company's strong performance and growth in the national security and global infrastructure markets. Parsons, celebrating its 80th anniversary, has demonstrated impressive financial results, including:

- Record organic revenue growth of over 20% in both business segments in 2023
- Record post-IPO results for total revenue, net income, adjusted EBITDA, operating cash flow, and contract awards
- Continued momentum with over 20% organic growth in Q1 and Q2 of 2024

The company has also been recognized as one of the World's Most Ethical Companies for 15 consecutive years, highlighting its commitment to ethics and integrity in driving performance.

Positive

• Inclusion in the S&P MidCap 400 Index, indicating increased market recognition
• Record organic revenue growth of over 20% in both business segments in 2023
• Record post-IPO results for total revenue, net income, adjusted EBITDA, operating cash flow, and contract awards
• Continued strong performance with over 20% organic growth in Q1 and Q2 of 2024
• Named one of the World's Most Ethical Companies for 15 consecutive years

Negative

• None.

CHANTILLY, Va., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company has been named to S&P Dow Jones Indices prestigious S&P MidCap 400 Index, effective prior to the open of trading on September 23, 2024. The company, which celebrated its 80^th anniversary earlier this year, 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.

“We are honored for Parsons to join the S&P MidCap 400 Index. This accomplishment is a testament to the continued success of our talented workforce and their commitment to successfully delivering on our customers’ missions around the world,” said Carey Smith, Parsons’ Chair, President, and Chief Executive Officer. “Together, we have transformed the company into a high-value solutions provider that is capitalizing on strong tailwinds across our six core end markets. Joining this prestigious list of companies is an important milestone in our storied history and reflects our momentum in creating the future of global infrastructure and national security ahead.”

In 2023, Parsons generated record organic revenue growth of more than 20% in both business segments, along with record results since its initial public offering for total revenue, net income, adjusted EBITDA, operating cash flow, and contract awards. That momentum continued through the first half of 2024, with the company reporting organic growth of more than 20% for both the first and second quarter of 2024. Parsons was also named one of the World’s Most Ethical Companies by Ethisphere for the 15th consecutive year in 2024, reinforcing the critical importance of ethics and integrity in driving a culture of performance, along with numerous other recognitions for hiring and workforce culture.

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 Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Media Contact:
Bryce McDevitt        
+1 703.851.4425
Bryce.McDevitt@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@Parsons.us

FAQ

When will Parsons (PSN) join the S&P MidCap 400 Index?

Parsons (PSN) will join the S&P MidCap 400 Index effective prior to the open of trading on September 23, 2024.

What was Parsons 's (PSN) organic revenue growth in 2023?

Parsons (PSN) reported record organic revenue growth of more than 20% in both business segments in 2023.

How has Parsons (PSN) performed in the first half of 2024?

Parsons (PSN) reported organic growth of more than 20% for both the first and second quarter of 2024, continuing its strong momentum.

For how many consecutive years has Parsons (PSN) been named one of the World's Most Ethical Companies?

Parsons (PSN) has been named one of the World's Most Ethical Companies by Ethisphere for 15 consecutive years as of 2024.