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) will present at the Stifel 2022 Cross Sector Insight Conference on June 8, 2022, at 9:10 a.m. ET. The presentation will be led by Carey Smith, Chairwoman and CEO, and Matt Ofilos, EVP of Finance. Investors can access the live webcast through the investor relations section of Parsons' website, with a replay available for 30 days afterward.
Parsons specializes in disruptive technologies in national security and critical infrastructure, including cybersecurity and smart cities.
Parsons Corporation (NYSE:PSN) finalized its acquisition of Xator Corporation for $400 million, enhancing its footprint in the U.S. Special Operations Command and critical infrastructure sectors. This acquisition will provide Parsons with access to a growing customer base at the Department of State and expanded capabilities in areas like cybersecurity and threat assessment. The synergies are expected to strengthen Parsons' existing portfolio and accelerate growth, with Xator integrated into Parsons’ engineered systems business unit.
Parsons Corporation (NYSE: PSN) will present at the Jefferies Virtual IT Services Summit on June 1, 2022, at 8:00 a.m. Eastern Time. Chairwoman and CEO Carey Smith, along with Executive VP of Finance Matt Ofilos, will lead the presentation. Investors can access the live webcast on Parsons' investor relations website, with a replay available for 30 days. Parsons is recognized as a leading disruptive technology provider in national security and critical infrastructure markets, focusing on areas such as cybersecurity and smart cities.
Parsons Corporation (NYSE: PSN) has been awarded a contract by the Niagara International Transportation Technology Coalition (NITTEC) to develop an AI-based regional border transportation management system. This project aims to enhance the movement of goods and people in the Buffalo-Niagara region, focusing on safety, efficiency, and environmental sustainability. Parsons will employ its Intelligent NETworks® Smart Mobility platform to facilitate real-time data sharing among agencies, ultimately improving traffic performance and freight operations.
On May 23, 2022, Parsons Corporation (NYSE: PSN) announced its acquisition of Xator Corporation for $400 million. This strategic move aims to enhance Parsons’ capabilities in critical infrastructure protection, cyber solutions, and counter-unmanned aircraft systems. Xator will expand the company’s market presence, particularly in federal solutions and with U.S. Special Operations Command. Expected to generate $300 million in revenue for 2023, this acquisition aligns with Parsons’ growth strategy of purchasing mission-focused companies with strong EBITDA margins.
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.
Summary not available.
Summary not available.
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.