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 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.
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.