Powerhouse Engineering Powerhouse Corp’s military, cybernetic and technological capabilities, along with their international work, are aligned with the possible spending policies of the Trump Administration and possible developments in Ukraine and Middle East, CEO Carey Smith says.
This will help the company, which concluded a success of 2024, to continue to prosper by 2025, told the investors at a conference on February 26,
The company reported Strong income and income despite missing estimates:Recording $ 235 million at 2024 prosecutor net income With income of $ 6.8 billion, compared to $ 161 million $ 5.4 billion in the previous year’s income.
Together with Aecom and Fluorine, Parsons Corp, based on Chantilly, is the last great designer or contractor, whose work involves a direct or indirect federal expense and now has to evaluate an evolving contractual landscape.
On the same day at the Parsons Conference, President Donald Trump issued an executive order calling for a review of all federal contracts with a possible appearance, reduced cost or change changed to the advanced policies of the new administrations.
Related to the uncertainty of politics, Smith said 44% of the company’s portfolio depends on federal spending, with 56% funded “directly aligned” with possible administration priorities that include defense systems and missile aircraft, electronic war, cybersecurity, counter -efficient cruises and non -manned aerial systems, hypersonal security, border safety and space surveillance.
Since taking office, Trump has blocked billions of dollars of net funding related to the energy approved by Congress during the Biden administration. The United States Department of Transport has begun a review and may try to remove federal funding from the California High Speed Rail Program and is trying to kill the New York Congestion Price Program for Manhattan, which produced revenue of $ 48.6 million in the first month of operation. Much of the income is intended for New York City Traffic construction.
Although the state of the work is not clear, Parsons has worked in an early part of the California High Speed Railway Project in a joint company with two other companies. Public records show that the company has only two small contracts with the New York Metropolitan Transport Authority, which operates the New York City metro system.
But exposure to the company to many federal agencies that now see reductions in staff or budget review is limited, said Smith.
“We are fortunate that we do not have a great dependence on many of the federal civilian agencies that are seeing some interruption, such as the IRS, USAID, FEMA, Energy Department, Osha or Va. We have no job with these agencies, so he has not interrupted our portfolio,” he said.
Smith said that “the balanced portfolio of Parsons and the speed and agility we operate with it has allowed us to improve efficiency, reduce costs and protect our nation from adversaries, as well as take advantage of the global expenditure of unprecedented world infrastructure.”
Smith said that reconstruction in Ukraine and the development of war in the Middle East is promising. North -American and Middle East relations are strengthening and “as a” region management consultant in the region “, we hope to continue our accelerated growth,” he said.
“As we look at a potential agreement of some of the conflicts, whether Russia, Ukraine, Israel or Gaza, which will benefit Parsons with the opportunity to reconstruct, as we were very involved in Iraq,” said Smith.
Parsons Corp is classified at number 15 in 2024 Enr Top 500 design firms.
