Parsons Corporation (NYSE:PSN) Q4 2023 Earnings Call Transcript

Samantha Stiroh: Great. And then on these programs that you have the $14 billion of un-booked, would those require more hiring to keep up with? And are you kind of hiring ahead of that or do you have the people in place already?

Carey Smith : Yes, so it’s a mix. And I’ll put them into two categories. When you look at it about half that $14 billion of un-booked is option years. So those would be current programs that we’re performing and we’ll get follow-on options. In general, most of those would have the people performing the contract today. There might be some increased or surge scope as you go into the options, but generally those would be on board. The ones where we would get additional labor is the ones that are un-booked ceiling. So a case of example of that would be we won Air Base Air Defense Program in Europe. And so that has just shy of $1 billion ceiling. So we book that as we get task orders and those task orders represent all new work. So it’s about 50:50. That is all the time we have for questions today. I would now like to turn the call back today for closing remarks.

Dave Spille: Thank you. And thank you for joining us this morning. If you have any questions, please don’t hesitate to give me a call. We look forward to speaking with many of you over the next couple of weeks. And with that, we’ll end today’s call. Thank you. Have a great day.

Operator: That concludes today’s conference call. Thank you for your participation. You may now disconnect.