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 provides technology-driven solutions for national security and global infrastructure markets through Federal Solutions and Critical Infrastructure activities. Company news commonly covers U.S. government and defense contract awards, nuclear enterprise mission assurance support, energy resilience and microgrid work, program management, transportation design, and digital infrastructure technologies such as demand response systems and TAK-as-a-Service.
Updates also report quarterly results, backlog, book-to-bill trends, guidance, acquisitions, and project milestones across cyber and electronic warfare, space and missile defense, transportation, water, environment, urban development, and critical infrastructure protection.
Parsons Corporation (NYSE: PSN) has announced a transformative initiative called Parsons X, aimed at unifying its digital organization and enhancing its AI-driven solutions in national security and infrastructure sectors. This strategic move leverages advanced technologies like digital twins and cybersecurity to improve efficiency and sustainability. The inaugural center will be at the PALADIN Lab in Maryland, focusing on innovative projects such as 183N Mobility and OrbitXchange. Parsons X positions the company as a leader in addressing critical infrastructure challenges.
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Parsons Corporation (NYSE: PSN) will present at the Goldman Sachs Industrials and Materials Conference in New York City on May 10, 2022, at 8:00 a.m. Eastern Time. Chairwoman and CEO Carey Smith, along with CFO George Ball, will lead the presentation. Investors can access the live webcast through Parsons' investor relations webpage, where a replay will be available for 30 days. Parsons is recognized for its leading technology solutions in national security and critical infrastructure sectors, focusing on areas like cybersecurity, missile defense, and smart cities.
Parsons Corporation (PSN) reported a 9% revenue increase year-over-year in Q1 2022, reaching $949 million, with organic growth of 6%. Net income surged 129% to $21 million, while adjusted EBITDA rose 8% to $74 million. The Federal Solutions segment saw a 9% revenue boost, and adjusted EBITDA increased by 33%. However, the Critical Infrastructure segment experienced a 14% decline in adjusted EBITDA. Parsons secured three major contracts valued over $100 million and reiterated its fiscal year guidance of $3.7 billion to $3.9 billion in revenue. The company maintains a strong backlog of $8.2 billion.
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Polaris Alpha, a Parsons Corporation company (NYSE: PSN), has completed a critical design review for a high-power microwave directed energy system aimed at maritime interdiction. This system will enable the acquisition, tracking, and disabling of adversary systems. The project is backed by an $11.6 million contract from the Naval Surface Technology & Innovation Consortium (NSTIC), focusing on safely disabling small boats during maritime missions. The system is designed for robust performance in challenging environments.
Parsons Corporation (NYSE:PSN) is set to release its first quarter 2022 financial results before markets open on May 4, 2022. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day to discuss the earnings results and strategic initiatives. Interested parties can access the live webcast through Parsons' Investor Relations webpage or participate via phone. A replay will be available post-call for one year on the company’s website and by phone through May 11, 2022.
Parsons Corporation (NYSE: PSN) will showcase its innovative capabilities at the 37th Space Symposium from April 4-7, 2022, in Colorado Springs, CO. With decades of experience, Parsons supports over 170 space missions and operates 50% of U.S. DoD satellites and 75% of NASA and NOAA satellites. The company emphasizes end-to-end customized mission solutions across various areas such as command and control and satellite operations. Among the products on display are C2Core®, DYSE, and OrbitXchange™, aimed at enhancing operational efficiency and satellite operations.
Parsons Corporation (NYSE: PSN) will support the National Security Agency's Cyber Exercise (NCX) from March 31 to April 2, 2022. This three-day virtual competition aims to enhance cybersecurity capabilities among U.S. Service Academies and military colleges. Participants will engage in real-time unclassified cyber operation scenarios, refining skills in teamwork, critical thinking, and decision-making. Parsons will develop five educational modules, covering topics such as cryptography and cyber policy, to foster expertise in current cybersecurity practices.