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 (NYSE: PSN) is a technology-driven company active in national security and global infrastructure markets, and its news flow reflects that focus. Public announcements highlight work across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection, giving investors and observers insight into how Parsons executes its strategy.
News about Parsons often centers on federal and defense contracts, including awards and positions on large U.S. Department of War, U.S. Air Force, and Missile Defense Agency programs. Releases describe task orders and multiple award contracts that cover design, engineering, and construction management for facilities and infrastructure that support mission readiness, as well as efforts to expand munitions production capacity and strengthen the Defense Industrial Base.
The company also issues updates on space and intelligence-related activities, such as contracts supporting space demonstration missions, satellite operations, and ground control services. Parsons’ acquisition of Altamira Technologies Corporation, which brings signals intelligence, cyber, missile warning, and space capabilities, is an example of transaction-related news that expands its defense and intelligence portfolio.
On the infrastructure side, Parsons’ news includes awards for urban development and transportation projects, such as design roles on advanced rapid transit lines and large mixed-use developments. These announcements illustrate its involvement in global infrastructure and urban development programs.
Visitors to this PSN news page can review company press releases and other coverage to track material events, contract wins, acquisitions, leadership changes, and guidance-related announcements that Parsons discloses to the market.
Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the Missile Defense Agency (MDA) worth up to $2.24 billion for Technical, Engineering, Advisory, and Management Support. This contract includes a three-year base period with two optional two-year extensions. With over 38 years of collaboration with the MDA, Parsons aims to enhance missile defense systems to protect U.S. and allied forces against various missile threats.
The Department of Energy’s (DOE) Salt Waste Processing Facility (SWPF), operated by Parsons Corporation (NYSE: PSN), has successfully processed over 1 million gallons of radioactive waste since its operations began in October 2020. This milestone supports the goal of processing a total of 32 million gallons of salt waste at the Savannah River Site (SRS), which is crucial for closing high-level waste tanks. Parsons completed the SWPF construction ahead of schedule and under budget, showcasing its commitment and efficiency in nuclear remediation efforts.
Parsons Corporation (NYSE: PSN) has successfully completed the acquisition of BlackHorse Solutions, Inc. for $203 million. This strategic move enhances Parsons' offerings in military, intelligence, and space operations, specifically in cyber and electronic warfare. The acquisition aligns with Parsons’ strategy of pursuing accretive acquisitions with revenue growth and strong adjusted EBITDA margins. BlackHorse’s innovative technology will bolster the company's capabilities in information dominance for defense and intelligence customers.
Parsons Corporation (NYSE:PSN) is set to announce its second quarter 2021 financial results on August 4, 2021, before market opening. A conference call will follow at 8:00 a.m. Eastern Time to discuss the earnings and strategic initiatives. Interested parties can access the webcast via the company’s Investor Relations webpage and participate by phone using specific dialing codes. Replays of the conference will be available on the website for one year and via phone until August 11, 2021.
Parsons Corporation (NYSE: PSN) has secured a $23.5 million contract with the Los Angeles County Metropolitan Transportation Authority (LA Metro) to provide engineering services for 17 miles of express lanes on Interstate 10 (I-10). This project enhances the existing 64-mile express lane corridor between Los Angeles and San Bernardino counties. Parsons' involvement will include environmental reporting and operational concepts, demonstrating a commitment to improving regional transportation.
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Parsons Corporation (NYSE: PSN) successfully delivered the secondary payload on the SBIRS GEO5 satellite launch under its $100 million Launch Manifest Systems Integrator contract. This contract, awarded in 2019, aims to enhance space access and optimize launch delivery. The payloads, Technology Demonstration Orbiters TDO-3 and TDO-4, were integrated for the May 18 launch, supporting the U.S. Space Force's objectives. To date, Parsons has facilitated three successful launches and has four additional missions contracted through 2023, aimed at cost-effective solutions for U.S. Government spacecraft.
Parsons Corporation (NYSE: PSN) has announced a definitive agreement to acquire BlackHorse Solutions, Inc. for $203 million. This acquisition aims to bolster Parsons' capabilities in cyber, electronic warfare, and information dominance.
BlackHorse, founded in 2018, is anticipated to generate approximately $100 million in revenue for 2022 and is expected to enhance Parsons' revenue growth and adjusted EBITDA margins. The deal is set to close in July 2021, pending customary conditions.
Parsons Corporation (NYSE: PSN) announced participation in the Stifel 2021 Virtual Cross Sector Insight Conference. The event will take place on June 8, 2021, featuring a fireside chat with Chuck Harrington, Chairman and CEO, and George Ball, CFO, starting at approximately 3:20 p.m. Eastern Time.
The presentation will be live streamed on the investor relations section of Parsons’ website, with a replay available for 90 days. Parsons is recognized for its innovative solutions in the defense, intelligence, and infrastructure sectors.
Parsons Corporation (NYSE: PSN) announced the upgrade of its airborne mission planning software, C2Core® Air, enhancing combat operations with a new cloud-native feature. This upgrade supports faster mission planning and operator reaction times while maintaining compliance with cloud standards. The software is utilized by various defense branches, including the U.S. Air Force and Royal Australian Air Force, to streamline combat air operations. Parsons aims to improve mission effectiveness through advanced planning capabilities and an integrated intelligence database.