Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) announced a significant milestone with a new $750 million contract awarded to its subsidiary, Xator, LLC, by a sensitive client. This contract comprises a one-year base period valued at $250 million and includes two one-year option periods also worth $250 million each. This new work represents an important expansion for the company, enhancing its position in the national security and infrastructure markets.

Parsons specializes in various sectors, including cybersecurity, intelligence, and critical infrastructure protection.

Parsons Corporation (NYSE: PSN) has been awarded a $16 million contract by the U.S. Army for the collection, processing, and dissemination of high-fidelity signature data. This firm-fixed-price contract spans a five-year period and represents new work for the company. Senior VP James Lackey emphasized Parsons' 40+ years of delivering actionable solutions to the Department of Defense, highlighting their role in addressing evolving security challenges. Parsons leverages tailored intelligence solutions to enhance mission success and respond to both traditional and non-traditional threats.

Parsons Corporation (NYSE: PSN) has been awarded a $14 million task order contract by the U.S. Department of Energy's Office of Clean Energy Demonstrations to expedite clean energy technologies. The contract features a one-year base period with two optional years and is part of the National Nuclear Security Administration's Enterprise Construction Management Services contract awarded in June 2022. The OCED, established with over $25 billion from the Infrastructure Investment and Jobs Act, aims to achieve net zero emissions by 2050. Parsons will provide diverse technical support, enhancing its long-standing partnership with the DOE since 1948.

On March 14, 2023, Parsons Corporation (NYSE: PSN) announced the acquisition of IPKeys Power Partners for $43 million. This strategic move enhances Parsons' capabilities in cybersecurity and critical infrastructure protection, particularly in grid modernization and cyber resiliency sectors. IPKeys, established in 2014, serves major utilities across North America and aligns with the Infrastructure Investment and Jobs Act, addressing the growing need for improved cybersecurity amidst increasing digitalization. The acquisition is expected to extend Parsons' market presence and customer base, integrating IPKeys into its Connected Communities business unit.

Parsons Corporation (NYSE: PSN) has been recognized as one of the 2023 World's Most Ethical Companies by Ethisphere, marking the 14th consecutive year the firm has received this honor. In 2023, 135 companies across 19 countries and 48 industries were acknowledged for their commitment to ethical business practices. CEO Carey Smith emphasized the importance of ethics in driving organizational performance, while the company’s employee-first mindset bolsters its Environmental, Social, and Governance (ESG) strategy, focusing on sustainability and diversity. The recognition highlights Parsons' core values and commitment to integrity.

Parsons Corporation (NYSE: PSN) will host its Investor Day on March 15, 2023, at the New York Stock Exchange. The event begins at 9:00 am ET, featuring presentations from top executives, including CEO Carey Smith and CFO Matt Ofilos. They will discuss the company’s vision, strategies, key initiatives, and financial objectives. Interested analysts and institutional investors can register on Parsons’ investor relations website and access a live webcast. Parsons is recognized as a leading technology provider in national security and global infrastructure, with diverse capabilities in cyber, space defense, transportation, and urban development.

Parsons Corporation (NYSE: PSN) has secured an $18 million task order to enhance air defense capabilities for U.S. Air Forces-Europe and Air Forces Africa. The task order focuses on countering threats from unmanned aerial systems and cruise missiles, to be executed at Ramstein Air Base, Germany. This initiative is part of a larger 10-year, $953 million contract awarded in 2021 for air-base air-defense systems across Europe and Africa. The project aims to develop scalable solutions ensuring force protection and operational efficiency in a rapidly evolving threat environment.

Parsons Corporation (NYSE: PSN) has announced a global strategic partnership with Microsoft aimed at enhancing digital transformation and cybersecurity capabilities. This collaboration is set to leverage Microsoft's Azure cloud and AI technologies alongside Parsons' expertise in national security and infrastructure. The partnership intends to deliver innovative solutions across various sectors, improving the efficiency and security of operations. Additionally, both companies will focus on developing training programs for future cybersecurity professionals. This agreement underscores Parsons' commitment to leveraging technology for improved infrastructure management.

Parsons Corporation (NYSE: PSN) has announced its role in providing Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion, partnering with Contra Costa Water District (CCWD) and GEI Consultants Inc. The project aims to enhance water supply reliability and quality for over 500,000 customers in the San Francisco Bay Area by increasing the reservoir's capacity from 160,000 to 275,000 acre-feet. Parsons will employ its digital solutions, Parsons X, to improve project efficiency. The Phase 2 project aligns with state and federal objectives and will receive funding from various governmental sources and local stakeholders.