Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) has secured a prime position on the GSA's ASTRO ID/IQ contract, valued in the multi-billions with a 10-year ordering period. The scope encompasses innovative technology solutions for the Department of Defense, selected for six pools including ground, space, and training. CEO Carey Smith highlighted the contract's potential to deliver next-generation capabilities that enhance military operations. The project involves systems integration, operations, and R&D for robotics and unmanned systems.

Parsons Corporation (NYSE: PSN) has announced a significant new contract to lead a team in developing Air Base Air Defense (ABAD) systems for U.S. Air Forces in Europe and Africa. Valued at $953 million, this 10-year indefinite delivery/indefinite quantity (IDIQ) effort will take place at Ramstein Air Base, Germany. The project aims to enhance air base defense capabilities against evolving threats, integrating commercial and governmental technologies. Parsons will collaborate with an industry team, including Leidos and SAIC, to ensure comprehensive protection for military personnel.

Parsons Corporation (NYSE: PSN) has secured a significant $567 million contract from the Missile Defense Agency (MDA) under the Technical, Engineering, Advisory, and Management Support (TEAMS)–Next Systems Test Support program. This contract, which features a three-year base with options for extensions, strengthens Parsons' long-standing collaboration with MDA. The company will provide essential testing services, including planning and execution, to enhance missile defense capabilities amidst evolving global threats.

Parsons Corporation (NYSE: PSN) has secured a $26 million task order under the Global Application Research, Development, Engineering, and Maintenance (GARDEM) contract from the Air Force Research Laboratory (AFRL). This contract, featuring a one-year base and three optional years, supports military software requirements for the U.S. Air Force and others. Parsons has now won five competitive bids on GARDEM since 2019, totaling $144 million. The total contract ceiling for GARDEM is $427 million, focused on enhancing warfighting data access across various military domains.

Parsons Corporation (NYSE: PSN) has appointed Susan Balaguer as its new chief human resources officer (CHRO), effective immediately. Balaguer will oversee various human resources functions and is a member of the Executive Leadership Team, reporting to CEO Carey Smith. With over three decades of HR experience, she aims to enhance employee engagement and solidify Parsons’ diversity initiatives. Previously, she held HR leadership roles at SERCO and other firms. This strategic move is expected to bolster Parsons’ position as an employer of choice in the industry.

Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the Missile Defense Agency (MDA) worth up to $2.24 billion for Technical, Engineering, Advisory, and Management Support. This contract includes a three-year base period with two optional two-year extensions. With over 38 years of collaboration with the MDA, Parsons aims to enhance missile defense systems to protect U.S. and allied forces against various missile threats.

The Department of Energy’s (DOE) Salt Waste Processing Facility (SWPF), operated by Parsons Corporation (NYSE: PSN), has successfully processed over 1 million gallons of radioactive waste since its operations began in October 2020. This milestone supports the goal of processing a total of 32 million gallons of salt waste at the Savannah River Site (SRS), which is crucial for closing high-level waste tanks. Parsons completed the SWPF construction ahead of schedule and under budget, showcasing its commitment and efficiency in nuclear remediation efforts.

Parsons Corporation (NYSE: PSN) has successfully completed the acquisition of BlackHorse Solutions, Inc. for $203 million. This strategic move enhances Parsons' offerings in military, intelligence, and space operations, specifically in cyber and electronic warfare. The acquisition aligns with Parsons’ strategy of pursuing accretive acquisitions with revenue growth and strong adjusted EBITDA margins. BlackHorse’s innovative technology will bolster the company's capabilities in information dominance for defense and intelligence customers.

Parsons Corporation (NYSE:PSN) is set to announce its second quarter 2021 financial results on August 4, 2021, before market opening. A conference call will follow at 8:00 a.m. Eastern Time to discuss the earnings and strategic initiatives. Interested parties can access the webcast via the company’s Investor Relations webpage and participate by phone using specific dialing codes. Replays of the conference will be available on the website for one year and via phone until August 11, 2021.