Parsons Stock Price, News & Analysis

On February 2, 2023, Parsons Corporation (NYSE: PSN) announced a $15 million contract with Rua Al-Madinah Holding Company to deliver construction project management consultancy services for the Rua Al-Madinah mega real estate project in Saudi Arabia. This initiative aims to enhance the region's economic and social transformation as part of Saudi Vision 2030. The project spans 1.5 million square meters, with plans for 63% green spaces and 47,000 hotel rooms to accommodate future pilgrims. It is anticipated to contribute $37 million to the GDP and create 93,000 jobs.

Parsons Corporation (NYSE: PSN) has been appointed as a delivery partner for THE LINE, a groundbreaking project within NEOM in Saudi Arabia. Designed to redefine sustainable urban living, THE LINE spans 170 km and aims for zero carbon emissions, with construction starting in Q1 2021. Parsons will provide consultancy services for project management and construction across various domains, ensuring the project's ambitious design aligns with NEOM’s vision. As part of this endeavor, the team is expected to reach 6,000 employees at peak construction. This contract underscores Parsons' commitment to innovative and sustainable infrastructure solutions.

Parsons Corporation (NYSE: PSN) will release its fourth quarter and fiscal year 2022 financial results on February 15, 2023, before the market opens. A conference call is scheduled for 8:00 a.m. ET to discuss the earnings results and strategic initiatives. Interested parties can access the live call via the Investor Relations section of Parsons' website. A replay will be available shortly after the event and will remain accessible for one year. Parsons is a key player in national security and global infrastructure, focusing on various high-tech domains.

Parsons Corporation (NYSE: PSN) announced that its subsidiary Xator, LLC, secured key roles on the USAF Integrated Base Defense Security System (IBDSS) contract. This task order could yield up to $79.5 million through 2027, enhancing security solutions for the Air Force. The project aims to modernize base security, integrating computers, communications, and situational awareness tools. This follows Parsons' acquisition of Xator in June 2022, expanding its market presence and capabilities in critical infrastructure protection.

Parsons Corporation (NYSE: PSN) announced that its BlackHorse Solutions subsidiary secured a $12 million contract from DARPA for the Signature Management using Operational Knowledge and Environments (SMOKE) program. This competitive, cost-plus-fixed-fee contract involves developing automated tools for cyber network security assessments. The SMOKE program aims to create data-driven infrastructures for identifying cyber threats, enhancing network defenses. Parsons continues to deliver innovative solutions to military and intelligence sectors, addressing next-generation challenges in multi-domain operations.

Parsons Corporation (NYSE: PSN) has secured a $95 million indefinite-delivery, indefinite-quantity contract from NAVFAC Atlantic. This contract includes a base year followed by four optional years and focuses on multi-discipline architect-engineer services for Navy and Marine Corps projects. Key tasks include master planning, military construction documentation, and sustainability studies. Jon Moretta, president of Engineered Systems, emphasized the company's commitment to providing innovative solutions for federal projects, aiding in improving resilience and efficiency.

Parsons Corporation (NYSE: PSN) has been awarded a $49 million task order by the US Army's C5ISR Center for the Intelligence Development Enabled Awareness (IDEA) initiative, which focuses on modernizing intelligence software systems. This contract is part of the larger $37 billion RS3 program and spans three years. The work will leverage Parsons’ PALADIN Lab in Maryland for rapid prototyping to enhance joint operations. This partnership reinforces Parsons’ commitment to delivering cutting-edge defense solutions.

Parsons Corporation (NYSE: PSN) has been awarded the HIRE Vets Medallion Award by the U.S. Department of Labor, recognizing its commitment to veterans' employment and support.

Nearly 25% of Parsons' U.S. workforce comprises veterans, reflecting its dedication to transitioning servicemembers. The award highlights Parsons as a top employer for veterans.

Ranked #3 on the GI Jobs Military Friendly Employer list, Parsons also engages in initiatives like the SkillBridge program and partnerships with organizations supporting military families.

Parsons Corporation (NYSE: PSN) has secured a $28 million contract from the U.S. Army Corps of Engineers to conduct comprehensive investigations and feasibility studies related to PFAS contamination at 16 Army National Guard sites across 12 states. This firm-fixed price contract spans eight-and-a-half years and entails evaluating PFAS impacts on soil, water, and potential health risks. Parsons leverages over 50 years of experience in environmental engineering to support the Department of Defense in addressing this critical environmental challenge.