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) is a technology-driven company active in national security and global infrastructure markets, and its news flow reflects that focus. Public announcements highlight work across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection, giving investors and observers insight into how Parsons executes its strategy.
News about Parsons often centers on federal and defense contracts, including awards and positions on large U.S. Department of War, U.S. Air Force, and Missile Defense Agency programs. Releases describe task orders and multiple award contracts that cover design, engineering, and construction management for facilities and infrastructure that support mission readiness, as well as efforts to expand munitions production capacity and strengthen the Defense Industrial Base.
The company also issues updates on space and intelligence-related activities, such as contracts supporting space demonstration missions, satellite operations, and ground control services. Parsons’ acquisition of Altamira Technologies Corporation, which brings signals intelligence, cyber, missile warning, and space capabilities, is an example of transaction-related news that expands its defense and intelligence portfolio.
On the infrastructure side, Parsons’ news includes awards for urban development and transportation projects, such as design roles on advanced rapid transit lines and large mixed-use developments. These announcements illustrate its involvement in global infrastructure and urban development programs.
Visitors to this PSN news page can review company press releases and other coverage to track material events, contract wins, acquisitions, leadership changes, and guidance-related announcements that Parsons discloses to the market.
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.
Parsons Corporation (NYSE: PSN) has announced a strategic partnership with AVEVA Group plc, enhancing its digital capabilities in project and asset management. This collaboration integrates AVEVA’s advanced industrial software solutions into Parsons X, a vendor-agnostic toolbox aimed at improving project efficiency across sectors such as renewable energy and chemicals. With AVEVA’s established market presence, serving over 75% of global oil production and numerous power plants, this partnership is expected to accelerate digital transformation for clients, optimizing costs and maintenance strategies.
Parsons Corporation (NYSE: PSN) has been awarded a contract by the Defense Threat Reduction Agency (DTRA) worth $850 million. This indefinite delivery/indefinite quantity (IDIQ) contract spans five years with a five-year option. Parsons will provide crucial support in areas like training, threat assessment, and mission planning to enhance national and international security. With over two decades of experience working with DTRA, Parsons aims to deliver innovative solutions to counter emerging vulnerabilities and threats globally.