Parsons Stock Price, News & Analysis

Parsons (NYSE: PSN) has announced its readiness to meet the growing demand for infrastructure deployment for global events. With decades of experience in delivering complex solutions for critical events, Parsons is well-positioned to provide expertise, innovative solutions, and integrated security for large-scale events like the 2026 FIFA World Cup and 2028 Olympics.

The company offers a comprehensive suite of services including traffic management, project controls, cybersecurity, biometrics, signage, critical infrastructure protection, physical security, and counter-unmanned aircraft systems. Parsons' involvement in the 2022 FIFA World Cup in Qatar and Expo 2020 in Dubai demonstrates its capability in handling multifaceted demands of event infrastructure.

With its 80-year history in infrastructure design and 40 years of cybersecurity expertise, Parsons aims to safeguard national assets, protect communities, and enhance global security for a safer, more connected world.

Tutor Perini (NYSE: TPC) announced that Elevate Inglewood Partners (EIP), a consortium including Tutor Perini as lead contractor, has been selected as the Best Value Proposer for the Inglewood Transit Connector (ITC) Project. The project involves designing, constructing, financing, operating, and maintaining a 1.6-mile automated people mover in Inglewood, California.

The ITC will connect the Metro K Line with major destinations like the Kia Forum, Sofi Stadium, YouTube Theater, and the Intuit Dome. The City of Inglewood has partnered with LA Metro and Los Angeles County to form the ITC Joint Powers Authority to oversee the project. EIP and the City are currently negotiating pricing and contractual terms.

BAE Systems (LON: BA) has selected Parsons (NYSE: PSN) for a $15.4 million, two-year contract to begin initial designs for modernizing the Alternate Nitrate Ester Manufacturing Facility at the Radford Army Ammunition Plant (RFAAP). This project aims to improve safety, increase operational efficiencies, and prioritize environmental improvements at the World War II-era facilities. BAE Systems Ordnance Systems Inc (OSI) has been operating RFAAP since 2012 and recently secured a contract to operate the Holston Army Ammunition Plant through 2035. The collaboration with Parsons , which is also working on other projects at RFAAP, reinforces BAE Systems' commitment to supporting the U.S. Army's modernization efforts and delivering mission-critical capabilities to warfighters.

Parsons (NYSE: PSN) is set to announce its second quarter 2024 financial results on July 31, 2024, before market opening. The company will also host a conference call at 8:00 a.m. ET to discuss the earnings report and strategic initiatives. Investors can access the live webcast and register for the telephone participation through the Investor Relations section on the Parsons website. A replay of the conference call will be available online approximately two hours post-event and will remain accessible for one year.

Parsons (NYSE: PSN) has been selected by the City of Manchester, NH, to manage the Cemetery Brook Drain Tunnel Project, the city's largest public works project to date. The three-year, $16 million contract involves program and construction management services aimed at reducing flood risks, eliminating combined sewer overflow (CSO) discharges into the Merrimack River, and ensuring clean drinking water from the river.

The new tunnel, part of Manchester's $338 million Phase II investment to improve water quality, will be two miles long with a 12-foot diameter and constructed 30 to 80 feet underground. It will feature seven drop shafts and include utility upgrades, road rebuilds, and added community amenities.

Parsons, with 80 years of experience and over 250 tunnel projects worldwide, brings extensive expertise in managing complex geologic environments.

Parsons (NYSE: PSN) has announced the expansion of its partnership with Technovation, a global nonprofit focused on STEM education for girls. This collaboration aims to nurture the next generation of female tech leaders by offering mentorship and support from Parsons' employees. Initially started in 2023, the partnership saw over 100 Parsons employees volunteering in Technovation Girls, a global competition for girls aged 8-18 to present tech solutions and business plans. The initiative aligns with Parsons' commitment to innovation and community engagement, underscored by their ongoing support for STEM-related nonprofits and military/veteran causes. The company, known for its diverse and inclusive culture, prioritizes the wellbeing of its 18,000 global employees and has been recognized for its ethical practices and strong corporate culture by several organizations.

Parsons and the Niagara International Transportation Technology Coalition (NITTEC) have launched AllRoads, a bi-national, technology-enabled, integrated regional mobility management system servicing the Buffalo-Niagara region. Developed since 2022, AllRoads is built on Parsons' AI-based Smart Mobility Solution, iNET®, integrating traffic management, transit operations, and traffic signals. The system enhances data transparency and interagency collaboration, aiming to improve regional mobility and streamline coordinated responses. Key figures from Parsons and NITTEC emphasize the system's role in boosting economic trade and regional transportation efficiency. The project sets a precedent for future implementations across different regions.

Plus3 IT Systems has announced its role as a subcontractor to Parsons on the NOAA's TraCSS contract. This project focuses on cloud and system integration services to support Space Situational Awareness (SSA) data management. TraCSS will transition civil space traffic coordination services from the DoD to NOAA, following Space Policy Directive 3. Plus3 IT will provide secure, scalable cloud architecture for data collection and analysis. This contract marks Plus3 IT's second recent venture in space-based missions involving critical sensor data. The company boasts a robust portfolio in cloud services for DoD, IC, and other federal customers.

Parsons has received the Yukon Regional Business Sustainability Award for its Faro Mine Remediation project in Yukon, Canada. The award, presented by the Environmental Careers Organization of Canada in collaboration with the Yukon Government, acknowledges the company's integration of sustainable practices and its socio-economic strategy benefiting the local First Nations communities. Since 2016, Parsons has provided site management, environmental, and construction services to remediate the Faro Mine site, prioritizing economic reconciliation and environmental sustainability. This recognition underscores Parsons' commitment to generating long-term value while addressing environmental and social issues.