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 (NYSE: PSN) delivers cutting-edge engineering and technology solutions for critical infrastructure, defense systems, and global security challenges. This news hub provides investors and industry professionals with timely updates on Parsons' strategic developments, project milestones, and operational achievements.
Access official press releases covering federal contract awards, transportation innovations, cybersecurity advancements, and environmental remediation initiatives. Our curated collection includes earnings reports, acquisition announcements, and leadership updates essential for understanding Parsons' market position in the engineering services sector.
Discover updates on Parsons' Federal Solutions division supporting national security programs and Critical Infrastructure projects enhancing urban mobility. Track the company's integration of AI-driven design tools and sustainable construction practices across global operations.
Bookmark this page for reliable updates on Parsons' engineering breakthroughs, government partnerships, and technological investments. Check regularly for insights into how PSN addresses complex infrastructure demands through its employee-owned operational model.
On May 23, 2022, Parsons Corporation (NYSE: PSN) announced its acquisition of Xator Corporation for $400 million. This strategic move aims to enhance Parsons’ capabilities in critical infrastructure protection, cyber solutions, and counter-unmanned aircraft systems. Xator will expand the company’s market presence, particularly in federal solutions and with U.S. Special Operations Command. Expected to generate $300 million in revenue for 2023, this acquisition aligns with Parsons’ growth strategy of purchasing mission-focused companies with strong EBITDA margins.
Parsons Corporation (NYSE: PSN) has announced a transformative initiative called Parsons X, aimed at unifying its digital organization and enhancing its AI-driven solutions in national security and infrastructure sectors. This strategic move leverages advanced technologies like digital twins and cybersecurity to improve efficiency and sustainability. The inaugural center will be at the PALADIN Lab in Maryland, focusing on innovative projects such as 183N Mobility and OrbitXchange. Parsons X positions the company as a leader in addressing critical infrastructure challenges.
Parsons Corporation (NYSE: PSN) will present at the Goldman Sachs Industrials and Materials Conference in New York City on May 10, 2022, at 8:00 a.m. Eastern Time. Chairwoman and CEO Carey Smith, along with CFO George Ball, will lead the presentation. Investors can access the live webcast through Parsons' investor relations webpage, where a replay will be available for 30 days. Parsons is recognized for its leading technology solutions in national security and critical infrastructure sectors, focusing on areas like cybersecurity, missile defense, and smart cities.
Parsons Corporation (PSN) reported a 9% revenue increase year-over-year in Q1 2022, reaching $949 million, with organic growth of 6%. Net income surged 129% to $21 million, while adjusted EBITDA rose 8% to $74 million. The Federal Solutions segment saw a 9% revenue boost, and adjusted EBITDA increased by 33%. However, the Critical Infrastructure segment experienced a 14% decline in adjusted EBITDA. Parsons secured three major contracts valued over $100 million and reiterated its fiscal year guidance of $3.7 billion to $3.9 billion in revenue. The company maintains a strong backlog of $8.2 billion.
Polaris Alpha, a Parsons Corporation company (NYSE: PSN), has completed a critical design review for a high-power microwave directed energy system aimed at maritime interdiction. This system will enable the acquisition, tracking, and disabling of adversary systems. The project is backed by an $11.6 million contract from the Naval Surface Technology & Innovation Consortium (NSTIC), focusing on safely disabling small boats during maritime missions. The system is designed for robust performance in challenging environments.
Parsons Corporation (NYSE:PSN) is set to release its first quarter 2022 financial results before markets open on May 4, 2022. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day to discuss the earnings results and strategic initiatives. Interested parties can access the live webcast through Parsons' Investor Relations webpage or participate via phone. A replay will be available post-call for one year on the company’s website and by phone through May 11, 2022.
Parsons Corporation (NYSE: PSN) will showcase its innovative capabilities at the 37th Space Symposium from April 4-7, 2022, in Colorado Springs, CO. With decades of experience, Parsons supports over 170 space missions and operates 50% of U.S. DoD satellites and 75% of NASA and NOAA satellites. The company emphasizes end-to-end customized mission solutions across various areas such as command and control and satellite operations. Among the products on display are C2Core®, DYSE, and OrbitXchange™, aimed at enhancing operational efficiency and satellite operations.
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