Welcome to our dedicated page for Parsons news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons stock.
Parsons Corporation provides technology-driven solutions for national security and global infrastructure markets through Federal Solutions and Critical Infrastructure activities. Company news commonly covers U.S. government and defense contract awards, nuclear enterprise mission assurance support, energy resilience and microgrid work, program management, transportation design, and digital infrastructure technologies such as demand response systems and TAK-as-a-Service.
Updates also report quarterly results, backlog, book-to-bill trends, guidance, acquisitions, and project milestones across cyber and electronic warfare, space and missile defense, transportation, water, environment, urban development, and critical infrastructure protection.
BAE Systems (LON: BA) has selected Parsons (NYSE: PSN) for a $15.4 million, two-year contract to begin initial designs for modernizing the Alternate Nitrate Ester Manufacturing Facility at the Radford Army Ammunition Plant (RFAAP). This project aims to improve safety, increase operational efficiencies, and prioritize environmental improvements at the World War II-era facilities. BAE Systems Ordnance Systems Inc (OSI) has been operating RFAAP since 2012 and recently secured a contract to operate the Holston Army Ammunition Plant through 2035. The collaboration with Parsons , which is also working on other projects at RFAAP, reinforces BAE Systems' commitment to supporting the U.S. Army's modernization efforts and delivering mission-critical capabilities to warfighters.
Parsons (NYSE: PSN) is set to announce its second quarter 2024 financial results on July 31, 2024, before market opening. The company will also host a conference call at 8:00 a.m. ET to discuss the earnings report and strategic initiatives. Investors can access the live webcast and register for the telephone participation through the Investor Relations section on the Parsons website. A replay of the conference call will be available online approximately two hours post-event and will remain accessible for one year.
Parsons (NYSE: PSN) has been selected by the City of Manchester, NH, to manage the Cemetery Brook Drain Tunnel Project, the city's largest public works project to date. The three-year, $16 million contract involves program and construction management services aimed at reducing flood risks, eliminating combined sewer overflow (CSO) discharges into the Merrimack River, and ensuring clean drinking water from the river.
The new tunnel, part of Manchester's $338 million Phase II investment to improve water quality, will be two miles long with a 12-foot diameter and constructed 30 to 80 feet underground. It will feature seven drop shafts and include utility upgrades, road rebuilds, and added community amenities.
Parsons, with 80 years of experience and over 250 tunnel projects worldwide, brings extensive expertise in managing complex geologic environments.
Parsons (NYSE: PSN) has announced the expansion of its partnership with Technovation, a global nonprofit focused on STEM education for girls. This collaboration aims to nurture the next generation of female tech leaders by offering mentorship and support from Parsons' employees. Initially started in 2023, the partnership saw over 100 Parsons employees volunteering in Technovation Girls, a global competition for girls aged 8-18 to present tech solutions and business plans. The initiative aligns with Parsons' commitment to innovation and community engagement, underscored by their ongoing support for STEM-related nonprofits and military/veteran causes. The company, known for its diverse and inclusive culture, prioritizes the wellbeing of its 18,000 global employees and has been recognized for its ethical practices and strong corporate culture by several organizations.
Parsons and the Niagara International Transportation Technology Coalition (NITTEC) have launched AllRoads, a bi-national, technology-enabled, integrated regional mobility management system servicing the Buffalo-Niagara region. Developed since 2022, AllRoads is built on Parsons' AI-based Smart Mobility Solution, iNET®, integrating traffic management, transit operations, and traffic signals. The system enhances data transparency and interagency collaboration, aiming to improve regional mobility and streamline coordinated responses. Key figures from Parsons and NITTEC emphasize the system's role in boosting economic trade and regional transportation efficiency. The project sets a precedent for future implementations across different regions.
Plus3 IT Systems has announced its role as a subcontractor to Parsons on the NOAA's TraCSS contract. This project focuses on cloud and system integration services to support Space Situational Awareness (SSA) data management. TraCSS will transition civil space traffic coordination services from the DoD to NOAA, following Space Policy Directive 3. Plus3 IT will provide secure, scalable cloud architecture for data collection and analysis. This contract marks Plus3 IT's second recent venture in space-based missions involving critical sensor data. The company boasts a robust portfolio in cloud services for DoD, IC, and other federal customers.
Parsons has received the Yukon Regional Business Sustainability Award for its Faro Mine Remediation project in Yukon, Canada. The award, presented by the Environmental Careers Organization of Canada in collaboration with the Yukon Government, acknowledges the company's integration of sustainable practices and its socio-economic strategy benefiting the local First Nations communities. Since 2016, Parsons has provided site management, environmental, and construction services to remediate the Faro Mine site, prioritizing economic reconciliation and environmental sustainability. This recognition underscores Parsons' commitment to generating long-term value while addressing environmental and social issues.
Parsons (NYSE: PSN) announced that the Federal Way Link Extension (FWLE) project has earned the Envision Platinum Award from the Institute for Sustainable Infrastructure (ISI). This project is only the seventh transit project in the U.S. to receive this honor. The 7.8-mile extension expands light rail access in the Seattle area, extending south from Angle Lake Station to Federal Way Downtown Station. Parsons served as the lead designer and also provided sustainability management services.
The project includes three stations across Seattle/Tacoma, Des Moines, Kent, and Federal Way in King County. The sustainability management plan developed by Parsons included LEED and Envision certifications. LEED certifications for Federal Way Transit Center and End-of-Line Facility are on track to achieve Silver status. The award signifies Parsons’ commitment to sustainable engineering practices and community connectivity.
Parsons (NYSE: PSN) has been recognized by Forbes and Statista as one of the Best Employers for New Grads in 2024. Announced on May 21, 2024, this accolade reaffirms Parsons' commitment to young professionals and top talent. The company recently launched its seventh employee business resource group, FORCE, aimed at early career employees, promoting mentorship, connection, and development. Parsons' North American internship program will host over 250 interns in 2024, offering comprehensive personal and professional growth opportunities. This recognition is based on an independent survey of over 100,000 U.S. young professionals and additional company data.
Parsons (NYSE: PSN) has been selected as one of 15 lead consultants by Los Angeles World Airports (LAWA) for a Multiple Award Task Order Contract (MATOC).
This contract, worth nearly $1 billion over five years, encompasses on-call professional services for LAWA's Capital Improvement Program at Los Angeles International Airport (LAX) and Van Nuys Airport (VNY).
The MATOC is the largest award of its kind in Los Angeles’ history and promotes inclusivity among local, diverse, veteran, small, and microbusinesses. Parsons' longstanding relationship with LAWA includes managing major infrastructure projects, such as the Landside Access Modernization Program (LAMP).
Parsons has also been pivotal in LAWA's inclusivity efforts, specifically through the HireLAX Apprenticeship Readiness Program.