Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) has been selected by the Missouri Department of Transportation (MoDOT) as part of the design-build team for the Bi-State Chester Bridge project. This project aims to replace an outdated truss bridge over the Mississippi River between Perryville, MO and Chester, IL. Parsons will act as the lead designer, providing a 4-span, 3-tower cable stay bridge design that enhances navigation safety.

Mark Fialkowski, president of Parsons' mobility solutions unit, emphasized the company's commitment to improving safety and mobility through innovative infrastructure solutions. The bridge will focus on constructability and resilience, featuring dual navigation openings and is strategically located near a regional airport.

Parsons Corporation (NYSE: PSN) is showcasing its innovative capabilities at the 38th Space Symposium in Colorado Springs from April 17-20, 2023. The company has a long-standing history of providing operationally proven capabilities in the space domain, serving over 200 government and commercial clients. Notably, Parsons supports 50% of Department of Defense satellites and 75% of NASA and NOAA satellites. Key offerings include the Parsons Space Operations Center, which provides Ground Operations Center as a Service (GOCaaS), reducing government investment needs. Parsons also excels in satellite integration and artificial intelligence applications for enhanced decision-making. The company is poised to tackle space access complexities and aims to deliver affordable, customized mission solutions.

On April 14, 2023, Parsons Corporation (NYSE: PSN) announced the completion of its acquisition of IPKeys Power Partners for $43 million. This strategic move enhances Parsons' Federal Solutions and Critical Infrastructure segments by integrating advanced cloud-based cybersecurity and software solutions. IPKeys, based in New Jersey, serves hundreds of utilities across North America, significantly boosting Parsons' footprint in growing markets like grid modernization and cyber resiliency. The acquisition aligns with Parsons' strategy of pursuing accretive acquisitions, targeting companies with revenue growth and adjusted EBITDA margins of over 10 percent. This transaction is expected to strengthen Parsons' existing portfolio and enhance its market position.

Parsons Corporation (NYSE: PSN) announced a significant contract awarded by the U.S. Department of State (DOS) for humanitarian support services, with a contract ceiling of $750 million. This includes a one-year base contract valued at $250 million and two additional one-year options, each also worth $250 million. The contract is aimed at providing global logistics support services, including identity verification, medical aid, and transportation for crisis-affected individuals. Parsons' acquisition of Xator, LLC in June 2022 has enhanced its capabilities in critical infrastructure protection and global threat assessments, expanding its partnership with DOS to cover more than 280 diplomatic missions worldwide.

Parsons Corporation (NYSE: PSN) is set to release its first quarter 2023 financial results on May 3, 2023, before market opening. A conference call will follow at 8:00 a.m. Eastern Time to discuss the earnings and corporate initiatives. Interested participants can access the live call via the company's Investor Relations webpage, with a replay available shortly after the call and lasting up to one year. Parsons is recognized as a leader in disruptive technologies within national security and global infrastructure, covering sectors such as cyber and intelligence, environmental remediation, and critical infrastructure protection.

Parsons Corporation (NYSE: PSN) announced the award of the Technical Support Services Contract 5 by the Federal Aviation Administration (FAA), valued at $1.8 billion. This contract will span a base period of four years with two optional three-year extensions, supporting the FAA’s Aviation System Capital Investment Plan (CIP). Parsons has a longstanding partnership with the FAA, having provided services since 2001 under previous contracts. The contract includes responsibilities for project management, infrastructure modernization, and systems installation at over 600 locations. This ongoing partnership underscores Parsons' commitment to enhancing aviation safety and efficiency.

Parsons Corporation (NYSE: PSN) has received its fourth Nunn-Perry Award from the Department of Defense (DOD) for its collaboration with KODA Technologies, enhancing defense capabilities through major programs. The recognition was given at the DOD Mentor Protégé Summit on March 30, 2023. The mentor-protégé agreement focused on project management, business strategy, and technology transfer, leading to KODA's first prime contract from the Missile Defense Agency (MDA). Key achievements include a new Defense Contract Accounting Agency system and technical labs supporting various military projects. KODA's enhanced capabilities are expected to contribute significantly to national technology initiatives.