Parsons Corp. leverages artificial intelligence across sectors to achieve record growth

Parsons Corp., under the leadership of CEO Carey Smith, continues to expand its portfolio through strategic acquisitions and innovative research and development initiatives. During the first quarter earnings call, Smith emphasized the company’s commitment to integrating artificial intelligence (AI) across its federal technology and critical infrastructure segments. The application of AI extends into diverse areas such as counter-unmanned aircraft, cybersecurity and supply chain verification, demonstrating Parsons’ multi-faceted approach to solving evolving technology challenges.

The company’s first quarter results confirm its success – revenues reached $1.5 billion, up 31% compared to the previous year and a record organic growth rate of 29%. This remarkable performance is attributed to an increase in significant wins starting in 2023, including contracts with a maximum value of more than $100 million. Parsons updated its full-year financial guidance, projecting revenue of $6.1 billion to $6.4 billion, with adjusted EBITDA expectations of $535 million to $575 million. This optimistic outlook reflects Parsons’ continued momentum and its ability to capitalize on emerging opportunities in the federal technology and critical infrastructure sectors.