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) reported Q4 2021 revenue of $951 million, down 1% year-over-year, but achieved a 9% organic growth for the second half of the year. It secured major contracts, including a $2 billion award for the Faro Mine. The company's total backlog rose to $8.3 billion, marking a 3% year-over-year increase. Adjusted EBITDA was $91 million, with a margin of 9.6%. Fiscal year 2022 guidance is set between $3.7 billion and $3.9 billion in revenue. CEO Carey Smith highlighted ongoing strength in critical infrastructure and federal solutions.
Parsons Corporation (NYSE: PSN) announced a collaboration with Battelle Memorial Institute to enhance their PFAS investigation capabilities. This partnership aims to utilize Parsons’ innovative PFAS investigation methods alongside Battelle’s advanced analytical tools to offer cost-effective and efficient solutions for clients facing PFAS issues. The urgency is underscored by a $10 billion funding allocation from the Infrastructure Investment and Jobs Act to investigate PFAS contamination, highlighting the growing significance of this environmental challenge.
Parsons Corporation (NYSE: PSN) has secured a contract exceeding $2 billion for main construction management and care & maintenance services at the Faro Mine in Yukon, Canada, a significant abandoned mine remediation project. This contract spans over 20 years and builds on Parsons' ongoing efforts in the area since 2016. The project aims to enhance environmental sustainability and support local First Nations communities through a socio-economic strategy focusing on direct employment and training.
Parsons Corporation (NYSE: PSN) will present at the Cowen 43rd Annual Aerospace/Defense & Industrials Conference on February 9, 2022, at 1:30 p.m. ET. The session, featuring Carey Smith, President and CEO, and George Ball, CFO, will include a fireside chat and Q&A. Investors can access the live webcast on Parsons' investor relations website, with a replay available for 90 days. Parsons is known for its disruptive technology in defense, intelligence, and infrastructure sectors, focusing on cybersecurity, missile defense, and smart cities.
Parsons Corporation (NYSE: PSN) has been selected by NEOM Company to provide project management support for OXAGON, an innovative industrial city in Saudi Arabia. As part of Saudi Arabia's Vision 2030 initiative, NEOM aims to redefine urban living. Parsons will deliver management and construction services for OXAGON, expected to be completed by 2030, with logistics facilities by 2025. The project emphasizes advanced manufacturing and infrastructure, positioning Parsons as a key partner in this transformative endeavor.
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The board of directors of Parsons Corporation (NYSE: PSN) has elected Carey A. Smith as chairwoman, effective April 14, 2022. Smith also serves as president and CEO, succeeding Charles Harrington, who will retire after 40 years with the company. Steven F. Leer has been appointed as lead independent director. Smith expressed gratitude for the trust placed in her and highlighted the company’s commitment to delivering integrated solutions in security and infrastructure. Smith joined Parsons in 2016 and has held several leadership roles, solidifying her position within the organization.
In December 2021, Parsons Corporation (NYSE: PSN) secured an $11 million contract to establish a ground operations center for DARPA's Blackjack flight demonstrations. This contract underscores Parsons’ commitment to innovative space solutions and builds on a previous SBIR contract. The company will develop and demonstrate mission planning and flight operations, ensuring seamless network connectivity for the Blackjack mission. With decades of experience in space operations, Parsons aims to enhance satellite management and operational efficiency.
Parsons Corporation (NYSE: PSN) has secured a task order from the U.S. Department of Homeland Security to provide COVID-19 testing solutions across ICE facilities, with a potential total value exceeding $100 million over three years. The company will supply emergency-use authorized test kits and logistics support, leveraging its DetectWise™ solution for efficient supply management. This contract underscores Parsons’ capabilities in biosurveillance and its commitment to enhancing public health efforts amid the pandemic.
Parsons Corporation (NYSE: PSN) will announce its fourth quarter and fiscal year 2021 financial results on February 23, 2022, before market opening. A conference call is scheduled for 8:00 a.m. ET to discuss the earnings and strategic initiatives. Interested parties can access the webcast via the company’s Investor Relations page, with options for both domestic and international dial-in. A replay will be available shortly after the call and continues for one year, showcasing Parsons' commitment to transparency and shareholder engagement.