Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) has secured a $23.5 million contract with the Los Angeles County Metropolitan Transportation Authority (LA Metro) to provide engineering services for 17 miles of express lanes on Interstate 10 (I-10). This project enhances the existing 64-mile express lane corridor between Los Angeles and San Bernardino counties. Parsons' involvement will include environmental reporting and operational concepts, demonstrating a commitment to improving regional transportation.

Parsons Corporation (NYSE: PSN) successfully delivered the secondary payload on the SBIRS GEO5 satellite launch under its $100 million Launch Manifest Systems Integrator contract. This contract, awarded in 2019, aims to enhance space access and optimize launch delivery. The payloads, Technology Demonstration Orbiters TDO-3 and TDO-4, were integrated for the May 18 launch, supporting the U.S. Space Force's objectives. To date, Parsons has facilitated three successful launches and has four additional missions contracted through 2023, aimed at cost-effective solutions for U.S. Government spacecraft.

Parsons Corporation (NYSE: PSN) has announced a definitive agreement to acquire BlackHorse Solutions, Inc. for $203 million. This acquisition aims to bolster Parsons' capabilities in cyber, electronic warfare, and information dominance.

BlackHorse, founded in 2018, is anticipated to generate approximately $100 million in revenue for 2022 and is expected to enhance Parsons' revenue growth and adjusted EBITDA margins. The deal is set to close in July 2021, pending customary conditions.

Parsons Corporation (NYSE: PSN) announced participation in the Stifel 2021 Virtual Cross Sector Insight Conference. The event will take place on June 8, 2021, featuring a fireside chat with Chuck Harrington, Chairman and CEO, and George Ball, CFO, starting at approximately 3:20 p.m. Eastern Time.

The presentation will be live streamed on the investor relations section of Parsons’ website, with a replay available for 90 days. Parsons is recognized for its innovative solutions in the defense, intelligence, and infrastructure sectors.

Parsons Corporation (NYSE: PSN) announced the upgrade of its airborne mission planning software, C2Core® Air, enhancing combat operations with a new cloud-native feature. This upgrade supports faster mission planning and operator reaction times while maintaining compliance with cloud standards. The software is utilized by various defense branches, including the U.S. Air Force and Royal Australian Air Force, to streamline combat air operations. Parsons aims to improve mission effectiveness through advanced planning capabilities and an integrated intelligence database.

Parsons Corporation (NYSE: PSN) will participate in the Jefferies Virtual IT Services Summit on May 25, 2021, featuring President and COO Carey Smith and CFO George Ball in a fireside chat. The session is scheduled for 12:00 p.m. Eastern Time and will be accessible via live webcast on Parsons' investor relations page.

The webcast will remain available for replay for 30 days. Parsons is recognized as a leading provider of disruptive technology across defense, intelligence, and critical infrastructure sectors, focusing on areas such as cybersecurity and smart cities.

Parsons Corporation (NYSE: PSN) announced a $27 million change order from the Georgia Department of Transportation to continue its role in the I-285/I-20 East Interchange reconstruction. The contract includes concept development, environmental documentation, and various technical services. This project is part of Georgia DOT's Major Mobility Investment Program aimed at enhancing road safety, reducing travel times, and decreasing pollution. The contract extension will sustain Parsons' support through 2025, aligning with its commitment to sustainability and improved travel for Georgia's citizens.

Parsons Corporation (NYSE: PSN) has secured a task order contract valued at up to $185 million from the Space and Missile Systems Center for Integrated Solutions for Situational Awareness (ISSA) support. The contract features a one-year base period with four additional one-year options. Parsons will provide specialized IT engineering, software development, and data analytics services, enhancing the ISSA system for over 5,000 users. This contract underscores Parsons' commitment to delivering innovative solutions in the space domain.