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 provides technology-driven solutions for national security and global infrastructure markets through Federal Solutions and Critical Infrastructure activities. Company news commonly covers U.S. government and defense contract awards, nuclear enterprise mission assurance support, energy resilience and microgrid work, program management, transportation design, and digital infrastructure technologies such as demand response systems and TAK-as-a-Service.
Updates also report quarterly results, backlog, book-to-bill trends, guidance, acquisitions, and project milestones across cyber and electronic warfare, space and missile defense, transportation, water, environment, urban development, and critical infrastructure protection.
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.
Parsons Corporation (NYSE: PSN) has unveiled its new Cloud Native Stream Platforms designed to enhance data processing capabilities for government and commercial customers. The platforms include the Cloud Native Streaming Platform (CNSP) and the Kubernetes Native Stream Platform (KNSP), aimed at maximizing cloud resource utilization while minimizing infrastructure costs. CNSP is currently in use within the Intelligence Community, while KNSP is newly available for distribution. Both platforms feature self-healing capabilities and extensive dashboards for real-time system monitoring.
Parsons Corporation (NYSE: PSN) has appointed John Felker to its federal strategic advisory board. Felker, who previously led the Cybersecurity and Infrastructure Security Agency's (CISA) Integrated Operations Division, brings extensive experience from his tenure at the Department of Homeland Security and 30 years in the U.S. Coast Guard. This addition aims to enhance Parsons' strategic direction in core markets, including cyber and intelligence, as noted by President Carey Smith. The advisory board includes other notable figures from national security and defense.