Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) will present at the Goldman Sachs Industrials & Materials Conference 2021 on May 13, 2021, at 1:00 p.m. Eastern Time. Carey Smith, President and COO, alongside George Ball, CFO, will lead a fireside chat session. The presentation will be accessible via a live webcast on Parsons’ investor relations website, with a replay available for 30 days. Parsons is known for its innovative technologies in defense, intelligence, and critical infrastructure, including cybersecurity and smart cities.

Parsons Corporation (NYSE: PSN) announces Jonathan Hegwood as the first recipient of the 2021 MMAA Donna Johnson Military Spouse Scholarship. This scholarship supports military spouses in their education. Hegwood is a U.S. Army veteran and has overcome Stage III lymphoma, currently studying for a Bachelor of Business Administration in Computer Information Systems. He focuses on promoting equity and inclusion, particularly in tech. Parsons aims to enhance support for military families through this initiative, honoring the legacy of Staff Sgt. Donna Johnson.

Parsons Corporation (NYSE: PSN) has secured a significant $618 million task order from the U.S. General Services Administration (GSA). This contract is aimed at enhancing the Intelligence Community's global cyber and intelligence capabilities. The work will involve open-source intelligence, system engineering, and rapid prototyping to address emerging threats. Parsons’ executive Paul Decker emphasized the importance of their acquisitions in providing mission-critical solutions. This development underlines Parsons' position as a key player in defense and intelligence sectors.

Parsons Corporation (NYSE: PSN) reported Q1 2021 financial results, with total revenue decreasing by 10% to $875 million, primarily due to COVID-19 impacts. Operating income rose by 8% to $26 million, despite net income dropping to $9 million. The company achieved a book-to-bill ratio of 1.2x, winning approximately $1 billion in new contracts. Adjusted EBITDA increased by 14% to $69 million, with a margin rise of 170 basis points to 7.9%. Parsons reiterated its fiscal guidance for 2021, forecasting revenues between $3.85 billion and $4.05 billion.

Parsons Corporation (NYSE: PSN) has secured a $114 million contract with the Qatar Public Works Authority for site supervision services in the western area of Qatar and Doha City. This four-year agreement encompasses contract management and supervision of significant infrastructure projects, including roads in Duhail South, Umm Lekhba, and surrounding districts. Parsons has been a trusted consultant to the PWA for over 20 years, and the contract may extend for an additional two years. These projects will be executed over the next five to seven years.

Parsons Corporation (NYSE: PSN) has been awarded the 2021 CSO50 Award by IDG's Chief Security Officer for its outstanding security projects and initiatives. This recognition highlights Parsons' commitment to cybersecurity and information risk management, addressing the increasing digital threats in today's connected world. Tim Potier, the chief information security officer, emphasized the importance of a robust cybersecurity program to safeguard organizational assets. The CSO50 Awards honor organizations that demonstrate innovation and leadership in security management.

Parsons Corporation (NYSE: PSN) announced its collaboration with the Connecticut Department of Transportation (CTDOT) to implement digital twin and enhanced 3D modeling technology for the I-91/I-691/Route 15 interchange project. This technology will allow detailed design reviews and improve asset management. Parsons will utilize Bentley's iTwin Services for optimized collaboration and safety in the project's design phase. The initiative underscores Parsons' commitment to innovative infrastructure solutions that address the backlog of infrastructure needs across the U.S.

Parsons Corporation (NYSE: PSN) has partnered with the Selma Center for Nonviolence, Truth, and Reconciliation to design and install architectural lighting for the Edmund Pettus Bridge in Selma, Alabama. This pro-bono project aims to enhance the bridge's cultural significance as a National Historic Landmark, commemorating the historic events of Bloody Sunday in 1965. The project involves collaboration with multiple historical preservation entities and is expected to support community economic development while promoting values of diversity, equity, and inclusion.

Parsons Corporation (NYSE: PSN) released its 2021 corporate social responsibility (CSR) report, detailing its commitment to environmental, social, and governance (ESG) initiatives. The report introduces the new strategy, Cultivating a Responsible Enterprise (CARE), targeting a 20% reduction in greenhouse gas emissions by 2025, alongside efforts to enhance gender and ethnic diversity. CEO Chuck Harrington emphasized the company's resilience despite 2020 challenges and its dedication to customer service. The CSR report aims to improve accountability and transparency in ESG reporting.