Parsons Stock Price, News & Analysis

Parsons (NYSE: PSN) has formed a joint venture with V2X called Polar Science Alliance (PSA) to pursue the National Science Foundation's Antarctic Science and Engineering Support Contract. The contract has an $8 billion ceiling value and aims to provide scientific research support services for the United States Antarctic Program over the next two decades.

The joint venture combines Parsons' 55 years of polar operations experience and infrastructure expertise with V2X's decade of polar operations and 20 years of science support experience. Parsons brings experience in polar operations and infrastructure modernization, while V2X contributes its expertise in supporting operations in remote and complex environments.

V2X Inc. (NYSE: VVX) has formed a strategic joint venture with Parsons (NYSE: PSN) called Polar Science Alliance (PSA) to pursue the National Science Foundation Antarctica Science and Engineering Support Contract (ASESC). The contract has an $8 billion ceiling value and aims to support the United States Antarctic Program (USAP) over the next two decades.

V2X brings over a decade of polar operations experience and was recently awarded a ten-year follow-on option for the U.S. Space Force Pituffik Space Base in Greenland. Parsons contributes 55 years of polar operations expertise, including work on the Antarctica Infrastructure Modernization for Science Project. The joint venture will support NSF's scientific research activities and logistical operations in Antarctica and the Southern Ocean.

Parsons (NYSE: PSN) has secured the 8th position on Forbes' Most Trusted Companies in America 2025 list, standing as the only company in its peer group to reach the top 10. The ranking, developed in partnership with HundredX, Signal AI, and Glassdoor, evaluated over 2,000 U.S.-based public companies across employee, customer, and investor trust, as well as media sentiment.

The company's strong position was attributed to its 80-year history of performance, employee engagement practices, Imagine Next culture, and successful coordination of its 19,000 global employees across 23 countries and all 50 states. Parsons joined notable companies like NVIDIA, KKR, AMD, and Lockheed Martin in the top ten, demonstrating its strength in national security and critical infrastructure markets.

Parsons (NYSE:PSN) has secured a $53 million, three-year contract from the Royal Commission for Riyadh City (RCRC) in Saudi Arabia for program management office services on its Main and Ring Roads Program. The project encompasses approximately 500km of new and improved road corridor works in Riyadh.

As the PMO, Parsons will oversee management and control of construction activities. The program aims to improve city mobility, address congestion, and support infrastructure needs for upcoming global events like Expo 2030 and FIFA World Cup 2034. The new road network will reduce traffic time and enhance city connectivity.

Parsons has collaborated with RCRC for over a decade on various projects, including Riyadh's transportation masterplan and the King Abdulaziz Project for Riyadh Public Transport. The company currently manages more than 50 active projects in Saudi Arabia with a regional team exceeding 6,500 employees.

Parsons (NYSE: PSN) has been selected as the lead designer for the Newark AirTrain Replacement Program, a $1.18 billion project awarded by the Port Authority of New York and New Jersey. The project involves replacing the existing AirTrain with a modern automated people mover (APM) at Newark Liberty International Airport.

As lead designer, Parsons will design 2.5 miles of elevated guideway and three new stations. The project is part of the airport's modernization efforts and will connect to Terminal A, which was also designed by Parsons in partnership with Tutor Perini. The new system aims to improve reliability, offer modern amenities, and accommodate increasing passenger demand.

Parsons (NYSE: PSN) and Globalstar (NYSE American: GSAT) have formed an exclusive partnership to serve public, government, and defense sectors. The collaboration successfully demonstrated Parsons' software-defined satellite communications solution using Globalstar's Low Earth Orbit (LEO) satellite constellation, marking the first of its kind in North America.

The partnership aims to enhance resilience against disrupted communication pathways in complex and congested areas. The Proof of Concept, initiated earlier this year, is advancing toward commercial service. The demonstration showcases the solution's capability to provide communications connectivity in areas with radio frequency congestion challenges.

Parsons (NYSE: PSN) and Globalstar (NYSE: GSAT) have announced an exclusive partnership to serve public, government, and defense sectors. The collaboration includes a successful demonstration of Parsons' software-defined satellite communications solution using Globalstar's Low Earth Orbit (LEO) satellite constellation.

The partnership aims to enhance resilient communication in complex and congested areas. The Proof of Concept, initiated earlier this year, represents the first demonstration of its kind in North America, specifically designed for radio frequency (RF)-congested environments.

The collaboration focuses on optimizing communications connectivity in challenging conditions, marking a significant advancement in satellite infrastructure utilization for mission-critical needs.

Parsons (NYSE: PSN) announced the successful inauguration of the $27 billion Riyadh Metro on November 27, 2024. As part of the Riyadh Metro Transit Consultants (RMTC) joint venture with Egis and SYSTRA, Parsons led the project and construction management for two of the Royal Commission for Riyadh City's metro contracts. The project, set to be the world's longest driverless metro, features 176.5 kilometers of track, 86 transit stations, and 7 rail depots. The RMTC achieved over 7 million hours without lost time injury, conducted 450,000 HSE inductions, and implemented 13,000 HSE campaigns. This infrastructure development aims to address Riyadh's traffic challenges and support Saudi Vision 2030.

Parsons (NYSE: PSN) has announced its participation in two upcoming investor conferences. Carey Smith, chair, president, and CEO, and Matt Ofilos, CFO, will engage in fireside chat Q&A sessions at the Goldman Sachs Industrials and Materials Conference on December 4, 2024, at 1:20 p.m. ET, and the UBS Global Industrials and Transportation Conference on December 5, 2024, at 9:40 a.m. ET.

Both presentations will be accessible via webcast on Parsons' investor relations website, with replays available for 30 days.