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.
Parsons (PSN) celebrates 80 years of infrastructure excellence during Infrastructure Week. The company has secured significant global infrastructure contract awards and major projects, showcasing its leadership in various sectors like rail, transit, aviation, and environmental infrastructure.
Parsons (NYSE: PSN) has been chosen by VIA Metropolitan Transit Authority to finalize the design of the Advanced Rapid Transit (ART) program for the VIA Rapid Green Line in San Antonio, Texas. The $20 million, five-year contract is a significant new project for Parsons. The ART system, with an estimated cost exceeding $400 million, will enhance community connectivity, support economic growth, and improve public transportation in San Antonio. The project is funded by various sources, including the Federal Transportation Administration's New Starts Capital Improvement Grant and local funds. The 12-mile VIA Rapid Green Line will feature 26 stations and connect key employment and residential areas in San Antonio.
Parsons (NYSE:PSN) received the 2024 Innovation Transportation Solutions Award from WTS Colorado for their East Colfax Avenue Bus Rapid Transit (BRT) project. The project was commended for its design excellence and collaboration with various stakeholders, including the City and County of Denver Department of Transportation and Infrastructure (DOTI), City of Aurora (COA), Colorado Department of Transportation (CDOT), Federal Transit Administration (FTA), Denver Regional Council of Governments (DRCOG), and Regional Transportation District (RTD). The project features sustainable and resilient design attributes supporting public health and safety, local structures, and community amenities. Parsons looks forward to advancing similar projects in the area.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.