Parsons (PSN) Stock News

Parsons Corporation (NYSE: PSN) has scheduled its second quarter 2025 financial results announcement for August 6, 2025, before market open. The company will host a conference call at 8:00 a.m. Eastern Time to discuss earnings results and strategic corporate initiatives.

Investors can access the live conference call webcast through the company's Investor Relations website. Telephone participants can register via the IR website or through a direct link. A replay will be available on Parsons' website for one year following the call.

Parsons Corporation (NYSE:PSN) has announced the acquisition of Chesapeake Technologies International (CTI) for $89 million. The Maryland-based CTI, previously a Bluestone Investment Partners portfolio company, specializes in electromagnetic warfare and all-domain technology solutions for U.S. defense markets.

CTI brings a workforce of over 225 employees, with 87% holding security clearances. The company will be integrated into Parsons' Defense & Intelligence business unit. The acquisition is expected to generate approximately $89 million in revenue for 2026, with an estimated adjusted EBITDA multiple of 10x.

The strategic acquisition enhances Parsons' capabilities in the Indo-Pacific Command area and strengthens its position with Special Operations forces. CTI's expertise spans electromagnetic spectrum, cyberspace, autonomous systems, and special communications, with a focus on developing advanced warfighter-focused solutions for military and security applications.

Parsons Corporation (NYSE: PSN) and IBM (NYSE: IBM) have announced a strategic collaboration to develop a new state-of-the-art air traffic control system for the Federal Aviation Administration (FAA). Parsons will serve as the prime contractor, leveraging its nearly 50-year partnership with the FAA and experience with over 450 airports across 40 countries.

The initiative responds to Transportation Secretary Sean Duffy's call for modernizing the National Airspace System (NAS). Parsons brings its infrastructure expertise and program management capabilities, while IBM contributes its federal government and systems integration experience. The partnership aims to create an open, vendor-agnostic approach that enables continuous system improvements based on real-time feedback.

Parsons Corporation (NYSE: PSN) has achieved the #1 ranking on Engineering News-Record's Top 50 Program Management Firms list, advancing two positions from 2024. The company oversees transportation, defense, aviation, urban development, and federal facility infrastructure programs valued at over $1 trillion. Notable achievements include saving 18 months on the Delta Conveyance Project schedule, managing projects at 500+ U.S. airports under the FAA contract, reducing NNSA analysis time from a year to three months, and completing 96% of structures at King Abdullah Financial District. Parsons also secured high rankings in other categories: #2 in Professional Services Firms, #2 in Construction Management/PM-for-Fee Firms, #3 in Construction Management Firms, and #6 in Combined Design and CM-PM Professional Services Revenue.

Parsons Corporation (NYSE: PSN) has secured a $137 million contract from the Defense Threat Reduction Agency (DTRA) for cyber operations. The single award, issued under the AEMSS IDIQ MATOC, includes a one-year base period with four one-year options plus a six-month option. The contract scope encompasses specialized cyber operations capabilities, including cyber assessments and subject matter expert support. This marks Parsons' third task order under the AEMSS IDIQ MATOC, building upon their decades-long partnership with DTRA in preventing and countering national security threats. Previous work included vulnerability mitigation and enhancing partner nations' capabilities in weapons of mass destruction detection and interdiction.

Parsons Corporation (PSN) has secured a $169.5 million contract from the U.S. Army Corps of Engineers Norfolk District to construct a new Ammonium Nitrate Solution Tank Farm at Holston Army Ammunition Plant. The four-year contract involves replacing existing storage tanks to support expanded manufacturing capabilities. This marks Parsons' third USACE Norfolk District award in four years, following previous contracts for an Explosive Decomposition Chamber facility (2023) and an Energetic Waste Incinerator project (2021). The project is part of the U.S. Army's broader multi-year, multi-billion-dollar Organic Industrial Base Modernization Implementation Plan, aimed at upgrading facilities, processes, and workforce capabilities across depots, arsenals, and ammunition plants.

Parsons Corporation has completed a significant 9.1-mile light rail segment between Glendora and Pomona in Southern California's San Gabriel Valley. The project, which achieved substantial completion in January, has been transferred to LA Metro for final preparations before passenger service begins later in 2025. This extension will become part of the 48.5-mile Metro A Line system, making it the longest light rail line in the US, connecting Long Beach to Pomona. Parsons led the design and contributed to construction management, delivering the project on time and within budget. The extension aims to provide an eco-friendly transportation alternative, reduce traffic congestion, and improve mobility in the region. Once operational, it will connect passengers to key destinations including downtown Los Angeles, while providing economic benefits through improved access to jobs, education, and entertainment opportunities.

Parsons Corporation has secured a $94.5 million task order under the Air Base Air Defense (ABAD) contract to enhance command-and-control and early warning capabilities for U.S. Air Forces in Europe and Africa. The contract includes a 12-month base period with two 12-month option periods. The work focuses on integrating, testing, fielding, and sustaining defense systems that protect against threats ranging from irregular attacks to hypersonic weapons. This task order is part of a broader 9-year ABAD IDIQ initiative that aims to develop an all-domain system using commercial and government off-the-shelf technologies. Parsons' role encompasses space operations, edge computing, cyber capabilities, and ground-based command and control systems.

Parsons Corporation (NYSE: PSN) has been awarded a 2025 Honor Award by the American Council of Engineering Companies (ACEC) for the Deer Creek Sanitary Tunnel and Pump Station project in the Water and Wastewater category. The project, which previously received the Grand Award from ACEC Missouri, involved the design and construction of a four-mile-long, 19-foot-diameter tunnel located 175 feet underground, capable of storing 38 million gallons of wastewater during wet-weather events. As the Deer Creek Watershed Consultant for Metropolitan St. Louis Sewer District, Parsons managed the development of infrastructure serving approximately 24,000 acres, including over 100 miles of sanitary and combined sewer systems. The project encompassed the construction of eight shafts, five diversion structures, and five hydraulic drop structures, demonstrating Parsons' expertise in delivering sustainable infrastructure solutions.