Welcome to our dedicated page for Parsons Corporation news (Ticker: $PSN), a resource for investors and traders seeking the latest updates and insights on Parsons Corporation stock.
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Sealing Technologies, a Parsons Company, is ramping up production of its SN 4500 servers, offering a cost-effective, open-architecture mission flexible compact 1U form factor. The SN 4500 allows for easy data transfer between classifications and sensitivity levels, with the ability to adopt future upgrades for GPUs, DPUs, Raid Controllers, and other PCIe devices. It serves multiple roles, from network sensors to gateway firewalls, providing unmatched versatility in a compact design.
Parsons reports strong first quarter 2024 results with record revenue of $1.5 billion, a 31% year-over-year increase. The company experienced organic revenue growth of 29% and adjusted EBITDA increased by 56% to $141 million. Despite a net loss of $107 million due to a charge related to a partial repurchase of convertible notes, Parsons remains optimistic, raising fiscal year 2024 guidance across all financial metrics.
Parsons (PSN) has been awarded a position on a $464 million contract to provide remediation services for hazardous toxic waste for the United States Army Environmental Command. The five-year contract includes PFAS treatment, munitions response, and operational range assessments at various U.S. Army installations, expanding Parsons' environmental remediation project portfolio. The company's recent contract wins and comprehensive experience in environmental solutions position it well for growth and success in the sector.
