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 significant indefinite-delivery, indefinite-quantity (IDIQ) contract from the Defense Intelligence Agency (DIA) for the Solutions for Information Technology Enterprise III (SITE III), valued at $12.6 billion over ten years. This contract focuses on providing strategic IT services to enhance the DIA's operations and modernization efforts. It will support various military branches and agencies, following the expiration of the previous E-SITE IT contract.
Parsons Corporation (NYSE: PSN) has secured a $250 million IDIQ contract from the Naval Information Warfare Center Pacific for maritime ISR and information operations. The contract includes a $145 million base period and an optional $105 million over two years. This initiative allows the U.S. Navy to enhance ISR capabilities while addressing technological advancements and security challenges. Parsons aims to support all-domain operational effectiveness, contributing to the Navy's mission globally.
Parsons Corporation (NYSE: PSN) will have executives Carey Smith and George Ball participate in a Q&A session on March 16, 2021, at 2:50 p.m. ET during the 2021 J.P. Morgan Industrials Conference. The event will be accessible via live webcast on Parsons' investor relations page, with a replay available for 30 days. Parsons is recognized as a leading disruptor in technology for defense, intelligence, and critical infrastructure, focusing on areas such as cybersecurity, missile defense, and smart cities.
Parsons Corporation (NYSE: PSN) is boosting investments in solutions to address per- and polyfluoroalkyl substances (PFAS), a growing environmental and public health challenge. With over 250 PFAS projects globally, Parsons aims to enhance technology for PFAS remediation. The company is leveraging data analytics, machine learning, and developing three patent-pending technologies for PFAS destruction. Additionally, Parsons is expanding its environmental treatability lab in Syracuse, New York, to further research PFAS issues, anticipating continued market growth as regulations evolve.
Parsons Corporation (NYSE: PSN) is advancing artificial intelligence (AI) across federal solutions and critical infrastructure to enhance decision-making and user experience. The firm has developed innovative tools, including an AI-enabled weapon-target pairing algorithm and an electronic warfare planning tool named TEMPO. Additionally, Parsons secured a classified contract for AI-based constellation task scheduling algorithms. These initiatives aim to improve situational awareness and operational efficiency while ensuring the security of critical infrastructure.
Parsons Corporation (NYSE: PSN) has launched its Cultivating a Responsible Enterprise (CARE) strategy, reinforcing its commitment to environment, social, and governance (ESG) practices. The strategy aims to reduce greenhouse gas emissions by 20% by 2025 and enhance diversity within the organization. CEO Chuck Harrington emphasized the importance of creating an inclusive work environment and maintaining operational excellence. This comprehensive approach seeks to drive revenue growth while aligning with sustainable practices and stakeholder engagement.
Parsons Corporation (NYSE: PSN) has secured a six-year, $100 million indefinite-delivery, indefinite-quantity (IDIQ) contract from the Naval Information Warfare Center (NIWC) Pacific. This new contract includes a two-year base period with two additional two-year options, providing support in management, engineering, technical assistance, and logistics related to Command, Control, Communications, Computers, & Intelligence (C4I). The company aims to enhance the Navy's operational effectiveness through advanced technology in artificial intelligence and data analytics.
Parsons Corporation (NYSE: PSN) will host a virtual Investor Day on March 11, 2021, focusing on its vision, strategy, and financial targets. The event will feature presentations from key executives, including CEO Chuck Harrington and CFO George Ball. Attendees can expect insights on growth initiatives across various sectors, including cybersecurity and critical infrastructure. The event is set for 9:00 a.m. to 11:30 a.m. ET and will include Q&A sessions with the leadership team. Interested parties can register at investorday.parsons.com.
Parsons Corporation (NYSE: PSN) has secured an indefinite-delivery, indefinite-quantity (IDIQ) contract from the U.S. Air Force Civil Engineer Center, valued at $2 billion over a potential 10-year period. The contract includes design, construction management, and modernization of Air Force Bases globally, with a five-year base contract and an optional five-year extension. This contract marks a continuation of Parsons' 60-year partnership with the U.S. Air Force and follows their previous AE13DCS contract.
Parsons Corporation (NYSE: PSN) reported Q4 and full-year 2020 results, revealing a 7% decline in quarterly revenue to $964 million, affected by COVID-19 impacts. Operating income surged 71% to $42 million, leading to a net income increase to $22 million. Full-year revenue of $3.9 billion saw a 1% decrease, with adjusted EBITDA rising 5% to $343 million. The company maintained a solid cash flow of $176 million for Q4. Notable contract wins included a $1.2 billion rail project in Edmonton. Guidance for 2021 expects revenue between $3.85 billion and $4.05 billion.