Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE:PSN) has secured a $50.6 million contract from the U.S. Air Force to manufacture, integrate, and sustain 13 Recovery of Airbase Denied by Ordnance (RADBO) systems over six years. This innovative system utilizes the ZEUS™ directed energy weapon to safely neutralize unexploded ordnance in hazardous areas. RADBO features a mine-resistant vehicle equipped with a laser and robotic arm, allowing personnel to operate from a safe distance. This contract marks the first DoD ground-based laser system in production, enhancing explosive ordnance disposal capabilities.

Parsons Corporation (NYSE: PSN) has been awarded a $45 million contract by the Bay Area Rapid Transit District (BART) to implement a Communications-Based Train Control (CBTC) system, set to become the largest of its kind in North America. This initiative aims to enhance passenger capacity, ensure system safety, and improve efficiency across BART's transit network. The project is part of BART's $3.5 billion Transbay Corridor Core Capacity Program, focusing on modernizing infrastructure, including traction power system upgrades and new rail vehicles.

Parsons Corporation (NYSE: PSN) will announce its third-quarter 2020 financial results on November 4, 2020, before market opening. A conference call is scheduled for 8:00 a.m. Eastern Time to discuss the earnings and corporate strategies. The call will be accessible via the company's website and through telephone. A replay will be available shortly after the call and for one year on the website and through a specific phone line.

Parsons is recognized as a leading provider of disruptive technology in defense, intelligence, and critical infrastructure sectors.

Parsons Corporation (NYSE: PSN) has been awarded three task orders totaling $69 million under its GARDEM contract with the Air Force Research Laboratory (AFRL). These contracts, expected to be executed in 2020, focus on providing on-site mission support and software application enhancements. Parsons, which has supported AFRL for over 20 years, aims to enhance operational capabilities across various military domains. The company continues to leverage its expertise in data mining, visualization, and cloud computing to deliver tailored solutions.

Parsons Corporation (NYSE: PSN) will participate in the Morgan Stanley Virtual 8th Annual Laguna Conference on September 16, 2020, at 3:45 p.m. Eastern Time. Chuck Harrington, CEO, and George Ball, CFO, will engage in a fireside chat. The session will be available live via webcast on Parsons' investor relations website, with a replay accessible for six months. Parsons specializes in disruptive technology across defense, intelligence, and critical infrastructure sectors, emphasizing cybersecurity and connected infrastructure. For more information, visit www.parsons.com.

Parsons Corporation (NYSE: PSN) has achieved a significant milestone by completing the necessary steps to initiate radioactive waste treatment at the Department of Energy's Salt Waste Processing Facility (SWPF) in Aiken, SC. This state-of-the-art facility will enhance processing rates by seven to eight times, significantly reducing operational costs and expediting the emptying of high-level waste tanks. Parsons has been involved with the Savannah River Site for over 30 years and completed the SWPF construction ahead of schedule and under budget, aiming to process 31 million gallons of salt waste.

Parsons Corporation (NYSE: PSN) has priced its private offering of $350.0 million aggregate principal amount of 0.25% convertible senior notes due 2025, up from a previously announced $300.0 million. The offering will generate approximately $341.0 million in net proceeds after expenses. The notes, maturing on August 15, 2025, will have a conversion rate of 22.2913 shares per $1,000 note. Funds will be used for general corporate purposes, including potential acquisitions. Additionally, the company has entered into hedges to mitigate dilution risks.