Parsons Stock Price, News & Analysis

On January 25, 2021, Parsons Corporation (NYSE: PSN) announced its leadership of an industry team, including Leidos (NYSE: LDOS) and SAIC (NYSE: SAIC), for a 10-year, $953 million contract with the U.S. Air Force. This initiative aims to design and maintain Air Base Air Defense (ABAD) systems across Europe and Africa, addressing emerging asymmetric threats. The team will utilize advanced technologies and an open architecture approach to enhance air base defense capabilities, ensuring protection for military assets in contested environments.

Parsons Corporation (NYSE:PSN) will report its fourth quarter and fiscal year 2020 financial results on February 24, 2021, before market opening. A conference call to discuss the results and corporate strategies will follow at 8:00 a.m. ET. Investors can access the call via the company's website or by dialing designated numbers. A replay will be available shortly after the call and for a year on the website. Parsons is recognized in defense, intelligence, and infrastructure sectors, focusing on cybersecurity, missile defense, and smart city technologies.

On December 28, 2020, Parsons Corporation (NYSE: PSN) announced it has secured contracts worth over $16 million for bridge projects in Illinois, Iowa, and Michigan. These projects include the preliminary design and engineering for a major river crossing and several long span bridges. Mark Fialkowski, EVP of Mobility Solutions at Parsons, emphasized the company's extensive experience in bridge design spanning over 70 years. Notably, the work includes repeat projects on key infrastructure like Michigan's Mackinac Bridge, reinforcing their commitment to enhancing community connectivity.

On December 21, 2020, Parsons Corporation (NYSE: PSN) announced the appointment of Carey Smith to its board of directors. Smith, who has been with Parsons since 2016, is currently the president and COO, responsible for global operations and growth strategies. CEO Chuck Harrington praised her operational leadership and experience as critical to the company's success. Smith expressed enthusiasm for driving innovation and addressing customer challenges as a board member. Her extensive qualifications include a doctorate and master's degrees in electrical engineering.

Parsons Corporation (NYSE: PSN) has successfully completed the deployment of its Positive Train Control (PTC) system for NJ TRANSIT. This state-of-the-art safety technology is the first of its kind for NJ TRANSIT and complies with Federal Railroad Administration guidelines while utilizing existing rail infrastructure. The initiative enhances passenger safety and supports rail network optimization. Key stakeholders, including Amtrak and Norfolk Southern, collaborated to ensure system interoperability. Parsons aims to leverage PTC data for further technological advancements in rail operations.

Parsons Corporation (NYSE: PSN) has secured a new task order valued at approximately $20 million under the GARDEM contract with the Air Force Research Laboratory. This three-year contract aims to enhance research and development for the U.S. Air Force and allied sectors. Since 2019, Parsons has won four competitive bids on this contract, amounting to $154 million. The company aims to leverage its experience in rapid software development to provide flexible solutions that meet mission requirements.

Parsons Corporation (NYSE: PSN) has been awarded a $21 million contract by the Southern Nevada Water Authority (SNWA) to enhance water supply management in Las Vegas. This contract extends a partnership dating back to 1993, focusing on sustainable water distribution and watershed management. The three-year agreement includes options for three additional three-year extensions. Over the years, Parsons has contributed to over $4 billion in infrastructure development for SNWA, including innovative solutions to improve water supply resilience amid regional growth and drought challenges.

Parsons Corporation (NYSE: PSN) has been awarded a $32 million contract by the San Bernardino County Transportation Authority to support a $4.3 billion program aimed at improving transportation and traffic management. This five-year contract will enhance program and project management for various infrastructure projects including freeways and interchanges. Parsons has collaborated with SBCTA for over a decade, underscoring the Authority's trust in their services to boost mobility and quality of life in the region.

Parsons Corporation (NYSE: PSN) has secured a four-year, $37 million contract from Naval Facilities Engineering Command Southwest to assist in rebuilding efforts at Naval Air Weapons Station China Lake. This award is part of a broader $2.5 billion earthquake recovery program following a 7.1 magnitude earthquake in July 2019. Parsons will provide essential programmatic, technical, risk, and build management services. This contract underscores Parsons' expertise in partnering with the Department of Defense on complex projects.