Parsons Stock Price, News & Analysis

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.

Parsons Corporation (NYSE: PSN) announced a private placement of $300.0 million in convertible senior notes due 2025. An additional $45.0 million may be purchased by initial buyers. The notes are senior, unsecured, and will have a semi-annual interest payment starting February 15, 2021, maturing on August 15, 2025. Proceeds will fund convertible note hedge transactions and general corporate purposes, including acquisitions. The offering is for qualified institutional buyers under Rule 144A of the Securities Act.

Parsons Corporation (NYSE: PSN) has promoted Hector Cuevas to executive vice president, overseeing missile defense and C5ISR markets. Cuevas, who joined in 2019 through the OGSystems acquisition, previously served as senior vice president of product sales operations. His leadership is expected to enhance innovation and responsiveness for global security clients. Cuevas is a decorated combat veteran with 20 years of service, bringing substantial military experience that includes support for special operations. This strategic move aims to broaden Parsons’ technology capabilities and further its growth in defense sectors.