Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) is advancing artificial intelligence (AI) across federal solutions and critical infrastructure to enhance decision-making and user experience. The firm has developed innovative tools, including an AI-enabled weapon-target pairing algorithm and an electronic warfare planning tool named TEMPO. Additionally, Parsons secured a classified contract for AI-based constellation task scheduling algorithms. These initiatives aim to improve situational awareness and operational efficiency while ensuring the security of critical infrastructure.

Parsons Corporation (NYSE: PSN) has launched its Cultivating a Responsible Enterprise (CARE) strategy, reinforcing its commitment to environment, social, and governance (ESG) practices. The strategy aims to reduce greenhouse gas emissions by 20% by 2025 and enhance diversity within the organization. CEO Chuck Harrington emphasized the importance of creating an inclusive work environment and maintaining operational excellence. This comprehensive approach seeks to drive revenue growth while aligning with sustainable practices and stakeholder engagement.

Parsons Corporation (NYSE: PSN) has secured a six-year, $100 million indefinite-delivery, indefinite-quantity (IDIQ) contract from the Naval Information Warfare Center (NIWC) Pacific. This new contract includes a two-year base period with two additional two-year options, providing support in management, engineering, technical assistance, and logistics related to Command, Control, Communications, Computers, & Intelligence (C4I). The company aims to enhance the Navy's operational effectiveness through advanced technology in artificial intelligence and data analytics.

Parsons Corporation (NYSE: PSN) will host a virtual Investor Day on March 11, 2021, focusing on its vision, strategy, and financial targets. The event will feature presentations from key executives, including CEO Chuck Harrington and CFO George Ball. Attendees can expect insights on growth initiatives across various sectors, including cybersecurity and critical infrastructure. The event is set for 9:00 a.m. to 11:30 a.m. ET and will include Q&A sessions with the leadership team. Interested parties can register at investorday.parsons.com.

Parsons Corporation (NYSE: PSN) has secured an indefinite-delivery, indefinite-quantity (IDIQ) contract from the U.S. Air Force Civil Engineer Center, valued at $2 billion over a potential 10-year period. The contract includes design, construction management, and modernization of Air Force Bases globally, with a five-year base contract and an optional five-year extension. This contract marks a continuation of Parsons' 60-year partnership with the U.S. Air Force and follows their previous AE13DCS contract.

Parsons Corporation (NYSE: PSN) reported Q4 and full-year 2020 results, revealing a 7% decline in quarterly revenue to $964 million, affected by COVID-19 impacts. Operating income surged 71% to $42 million, leading to a net income increase to $22 million. Full-year revenue of $3.9 billion saw a 1% decrease, with adjusted EBITDA rising 5% to $343 million. The company maintained a solid cash flow of $176 million for Q4. Notable contract wins included a $1.2 billion rail project in Edmonton. Guidance for 2021 expects revenue between $3.85 billion and $4.05 billion.

Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the U.S. Postal Service (USPS), valued at up to $600 million. This marks the company's third consecutive contract with USPS, supporting ongoing modernization efforts. Parsons aims to enhance mail service reliability through expertise in program management and construction. The contract encompasses various USPS initiatives, including self-service kiosks and facility modernization.

Parsons Corporation (NYSE: PSN) received a task order from the National Geospatial-Intelligence Agency (NGA) under the MOJAVE Functional Area 2 (FA2) contract, marking the seventh task order awarded since 2017, with a cumulative value exceeding $200 million. The six-month base contract with two option years emphasizes strengthening the nation's counter insider threat mission. Since 2012, Parsons has enhanced the NGA's insider threat program through advanced analytics, driving efficiency in data review and contributing to multiple NGA awards.