Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) has secured multiple multi-million-dollar contracts to assist transit agencies in fleet electrification and zero emission vehicle (ZEV) initiatives. This comes as part of a broader $7.5 billion funding initiative from the Infrastructure Investment and Jobs Act, aimed at transforming public transit fleets by 2040. The company's projects include studies on truck electrification barriers and planning for zero emission bus transitions, demonstrating Parsons' commitment to sustainable transit solutions.

Parsons Corporation (NYSE: PSN) has been awarded a $16 million contract by the National Oceanic and Atmospheric Administration (NOAA) for engineering services, IT functionality, and flight operations support for the Polar Operational Environmental Satellites (POES) NOAA-15, NOAA-18, and NOAA-19. This one-year contract includes two additional option years and marks a significant shift as it transitions satellite control from a government-operated system to a hybrid cloud-based commercial operation. The collaboration aims to enhance environmental monitoring capabilities.

Parsons Corporation (NYSE: PSN) has been appointed as lead designer for the New American Legion Bridge I-270 Traffic Relief Plan, under a joint venture with Tutor Perini Corporation. This Maryland Department of Transportation project, valued in the billions, entails replacing and expanding the American Legion Bridge, adding two High Occupancy Toll (HOT) lanes, and enhancing 14 miles of highway. With decades of infrastructure experience, Parsons aims to improve regional mobility and safety. This collaboration symbolizes a significant step in transportation development in the National Capital Region.

Parsons Corporation (NYSE:PSN) plans to release its third quarter 2022 financial results on November 2, 2022, before the market opens. The company will host a conference call at 8:00 a.m. ET to discuss its earnings and corporate strategies. Interested participants can access the live conference through Parsons' Investor Relations webpage or by dialing the provided numbers for domestic and international callers. A replay of the call will be available on the company’s website shortly after the event and will last one year.

Parsons Corporation (NYSE: PSN) has been awarded a $104 million contract by the Missile Defense Agency (MDA) to support engineering, management, and lifecycle services over a three-year period, with two optional extensions. This contract emphasizes Parsons' long-standing expertise in modernizing military infrastructure since 1975. The company will assist MDA in maintaining sustainable systems across multiple U.S. military sites, enhancing facility conditions and property management.

Tutor Perini Corporation (NYSE: TPC) has been awarded the design and construction contract for Phase 1 South of the New American Legion Bridge I-270 Traffic Relief Plan, a significant civil works project in the U.S. The company will collaborate with AM Partners, including its subsidiary Lunda Construction and Parsons Corporation, to deliver the project. The initiative is expected to generate $12.6 billion in economic activity and create 43,400 job-years. This multi-billion dollar construction project aims to optimize travel and enhance long-term economic value while minimizing community impact.

On September 20, 2022, Parsons Corporation (NYSE: PSN) was awarded a 10-year IDIQ contract by the U.S. Army Combat Capabilities Development Command for chemical and biological defense support, valued at $869 million. This contract will enhance the Army's capabilities in research, development, test, and evaluation related to chemical and biological defense. Parsons aims to leverage its expertise in biosurveillance and environmental safety to contribute to national security and combat readiness.

Parsons Corporation (NYSE: PSN) showcased its intelligent transportation solutions (ITS) at the ITS World Congress from Sept. 18-22, 2022, in Los Angeles. The company highlighted its integrated automatic traffic management systems (ATMS) and innovative AI technologies aimed at enhancing efficiency, safety, and sustainability in urban infrastructure. Notably, Parsons received the Global Road Achievement Award for deploying its iNET™ Smart Mobility Platform on the San Francisco Oakland Bay Bridge. Key executives participated in discussions on advancements in connected autonomous vehicles and multi-modal connectivity.

Sidus Space, Inc. (NASDAQ: SIDU) has reaffirmed its commitment to manufacturing hardware for Parsons Corporation (NYSE: PSN) in support of the Tranche 1 (T1) launch. This collaboration involves the production of flight cables for Parsons' evolved secondary payload adapter (ESPA) ring. Sidus Space continues to leverage its manufacturing capabilities to provide end-to-end solutions in the space industry, enhancing its partnership with Parsons.