Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) has secured a $160 million ceiling-value blanket purchase agreement (BPA) to provide enterprise construction management services to the Department of Energy (DOE) and National Nuclear Security Administration (NNSA). This contract, which spans five years, marks Parsons' third consecutive ECMS engagement for national defense missions. Services will include strategic planning, engineering, logistics support, and construction management. The company has supported the DOE since 1948, focusing on modernization and environmental cleanup efforts.

Parsons Corporation (NYSE: PSN) will present at the 2022 Morgan Stanley 10th Annual Laguna Conference on September 14, 2022, at 1:25 p.m. Pacific Time. The presentation will feature Carey Smith, chair, president, and CEO, alongside Matt Ofilos, CFO. Investors can access the live webcast through the investor relations section of Parsons’ website, with a replay available for 30 days. Parsons is a leader in technology for national security and critical infrastructure, engaging in areas like cybersecurity and environmental remediation.

SpaceLink has been awarded a contract by the Defense Advanced Research Projects Agency (DARPA) for its Space-Based Adaptive Communications Node (Space-BACN) program. This initiative aims to facilitate communications in the proliferated space domain. SpaceLink will help develop protocols for commercial communications to interact with government systems, leveraging its relay satellites in MEO with optical links. In collaboration with Parsons Corporation (PSN), SpaceLink aims to enhance space-to-space connectivity through dynamic optical communications.

Parsons Corporation (NYSE: PSN) announced that CEO Carey Smith and CFO Matt Ofilos will present at the 2022 Raymond James Diversified Industrials Conference in New York City on August 23, 2022, at 8:35 a.m. ET. The presentation will be available live via webcast on Parsons’ investor relations website, with a replay accessible for 30 days afterward. Parsons is recognized as a leading provider of disruptive technology in national security and critical infrastructure markets, focusing on capabilities such as cybersecurity and environmental remediation.

Parsons Corporation (NYSE: PSN) has joined the United Nations Global Compact Initiative, a platform aimed at promoting responsible business practices for sustainability. This initiative includes over 15,000 companies globally. Parsons emphasizes its commitment to sustainability through environmental, economic, and social balance in its operations, aligning with the UN's ten principles regarding human rights, labor, environment, and anti-corruption. The company aims to deliver critical infrastructure solutions while contributing to the Sustainable Development Goals.

Parsons Corporation (NYSE: PSN) is set to showcase advanced operational technologies at the Space & Missile Defense Symposium from August 9-11, 2022, in Huntsville, Alabama. The company emphasizes its role in enhancing mission effectiveness for the Department of Defense through innovative solutions in missile defense, hypersonic tracking, and cybersecurity. Senior VP James Lackey will discuss modernization strategies during a panel on August 10. Key technologies demonstrated include the Assured Positioning System and C2Core® command and control system, both aimed at addressing evolving global security threats.

Parsons Corporation (NYSE: PSN) will present at the 2022 Jefferies Industrials Conference in New York City on August 10, 2022, at 8:30 a.m. Eastern Time. Presenters include Carey Smith, chair and CEO, and Matt Ofilos, CFO. The presentation will be live-streamed on the investor relations section of Parsons' website and available for 30 days as a replay. Parsons is recognized for its leading role in national security and critical infrastructure solutions, focusing on areas such as cybersecurity and missile defense.

Parsons Corporation (NYSE: PSN) has unveiled the first of 44 Automated People Mover (APM) vehicles for Los Angeles International Airport (LAX). This 2.25-mile electric train system aims to enhance passenger experience, alleviate traffic congestion, and connect key airport areas. The project, supported by Parsons since 2017, utilizes eco-friendly technology and aims for zero emissions. The APM will operate 24/7, offering free service to the public, and integrates with regional transport facilities.

Parsons Corporation (NYSE: PSN) reported a 15% revenue increase year-over-year in Q2 2022, reaching $1,009 million, driven by organic growth of 9%. Net income surged 173% to $18 million, with adjusted EBITDA up 18% to $77 million. The company completed the strategic acquisition of Xator for $388 million, enhancing its presence in national security and infrastructure sectors. Parsons raised its fiscal year revenue and adjusted EBITDA guidance, reflecting strong operating performance and growth opportunities. The book-to-bill ratio stood at 1.0x, with total backlog at $8.2 billion.