PARSONS Business Summary

Parsons Corporation (NYSE: PSN) is a technology-focused defense, intelligence, and infrastructure firm that generates revenue through high-end engineering, technical services, and software-driven solutions for government and commercial clients. The company’s business is organized into two primary segments: Federal Solutions, which focuses on cyber, space, missile defense, and intelligence missions; and Critical Infrastructure, which provides digitally-enabled design and program management for transportation, water, and urban development projects. Parsons competes directly with industry giants such as AECOM, Bechtel, SAIC, and Stantec. As of early 2026, the company maintains a dominant market position as the world’s top-ranked program management firm according to Engineering News-Record, successfully pivoting its model toward high-margin, technology-integrated contracts and a record $8.7 billion funded backlog. Originally founded in 1944 by Ralph M. Parsons, the company is currently led by Chair, President, and CEO Carey Smith, a veteran of Honeywell and Lockheed Martin. The executive suite includes CFO Matt Ofilos, who previously held senior finance roles at Amazon Web Services (AWS), and CTO Ricardo Lorenzo, who spearheads the firm’s AI and digital transformation initiatives. Paul Decker serves as Chief Growth Officer, leveraging his background in cyber operations to expand the company's national security footprint. Parsons’ board of directors features high-profile members including former Blue Origin CEO Robert H. Smith, former Under Secretary of Defense Ellen Lord, and retired USAF General Darren McDew. The company is backed by significant institutional investors, including Newport Trust Company, Vanguard Group, and State Street Corporation, supporting its aggressive M&A strategy and expansion into the Middle East.