Earnings dipped slightly at Parsons Corp., Centreville, Va., in the fourth quarter but were up for 2022 as a whole, which the government defense and infrastructure contractor attributed during a Wednesday conference call to organic growth.
Net earnings for the fourth quarter ended Dec. 31 were $28 million, or $0.25 a share, down slightly from about $29 million or $0.26 a share, in the year-ago quarter, according to a Wednesday press release. Yearly income was $97 million or $1.81 a share up from $64 million or $1.65 for 2021.
Quarterly revenue was $1.1 billion, up year-over-year from $951 million. Annual revenue was a record $4.2 billion up from $3.7 billion in 2021.
Parsons’ guidance envisions revenue ranging from about $4.4 billion to almost $4.6 billion.
“We are well-positioned in two complementary and growing markets, and we will continue to invest in our people, technology, business development initiatives and strategic M&A to maintain our momentum and drive shareholder value,” CEO Carey Smith said in the press release.
Parsons is a junior member of the Leidos-led Hanford Mission Integration Solutions joint venture that provides landlord services under a $4.1-billion contract at the Department of Energy’s Hanford Site in Washington state.
Parsons also has a $160-million contract to provide construction management services for DOE and its semi-autonomous National Nuclear Security Administration. Parsons has done this type of work for the DOE’s nuclear weapons office for a long time.
