And then in July Parsons acquired BRE Blue ridge engineering....

And then in July Parsons acquired BRE Blue ridge engineering.
ROSS WILKERS

JULY 31, 2024
Investors always ask about revenue synergies and pathways for growth whenever a company makes an acquisition. They asked CEO Carey Smith what Parsons sees in this purchase and she gave her view
ROSS WILKERS

JULY 31, 2024
Investors always ask about revenue synergies and pathways for growth whenever a company makes an acquisition. They asked CEO Carey Smith what Parsons sees in this purchase and she gave her view.
Such was the case during this call, where synergies with BlackSignal were a point of inquiry.

"In the offensive cyber side, they've played a lot more in research and development, we're strong in the operations, so it really strengthens our full-spectrum cyber operations capability," Smith said.

"In the electronic warfare space, we both play there. But we happen to look at different signals of interest, and both of us leverage our advanced digital signal processing capabilities, and then they provide new capabilities for us in the counterspace radio frequency domain area."

On the customer front, Smith pointed out that both companies have footprints across the intelligence community and Parsons has a significant one with the Army. She said BlackSignal will bring a greater presence with the Air Force, Navy and Defense Advanced Research Projects Agency.
Parsons was advised by Raymond James and BlackSignal was advised by Baird.

Fourth quarter revenue of $1.67 billion was 23% higher than the prior year period and the organic growth rate was 22%. Profit of $150 million represented a 27% year-over-year increase in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).

Both of those top and bottom line figures are records for Parsons since its 2019 initial public offering.

The company lifted its full-year financial outlook to a revenue range of $6.35 billion-to-$6.55 billion, while adjusted EBITDA expectations are also up to between $555 million and $595 million.