Parsons Awarded $600M Ceiling U.S. Postal Service Contract

Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the U.S. Postal Service (USPS), valued at up to $600 million.

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the U.S. Postal Service (USPS), valued at up to $600 million. This marks the company's third consecutive contract with USPS, supporting ongoing modernization efforts. Parsons aims to enhance mail service reliability through expertise in program management and construction. The contract encompasses various USPS initiatives, including self-service kiosks and facility modernization.

Positive

• Secured a seven-year contract worth up to $600 million with USPS.
• Third consecutive contract demonstrates a strong partnership with USPS.
• Continued support for USPS's modernization efforts enhances service reliability.
• Broad scope of work includes diverse initiatives like kiosks and facility upgrades.

Negative

• None.

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CENTREVILLE, Va., Feb. 22, 2021 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) has won a seven-year contract with the  U.S. Postal Service's (USPS) Nationwide Program Management Services (PMS) worth a total potential value of $600 million. The deal is the company's third consecutive with the USPS. The seven-year timeframe assumes all option periods are exercised.

"We look forward to continuing our 17-year relationship with the USPS and helping them deliver exceptional support to citizens around the country," said Chris Alexander, executive vice president, and general manager of the Parsons' engineered systems market. "Our experience in program management, architectural and engineering design, and construction management supports the USPS' ongoing modernization efforts ensuring uninterrupted delivery of reliable and affordable mail service to our nation."

Parsons recently supported USPS National Facilities Programs, including self-service kiosks, elevator modernization, parking structure rehabilitation, leased space accessibility program, and the repair and alteration program.

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we're making an impact.

Media Contact:
Bryce McDevitt
+ 1 703.851.4425
bryce.mcdevitt@parsons.com 

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
dave.spille@parsons.com 

 

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SOURCE Parsons Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the value of the USPS contract awarded to Parsons Corporation?

The contract has a total potential value of $600 million.

How long is the duration of Parsons Corporation's contract with USPS?

The contract is for seven years, assuming all option periods are exercised.

Is this the first contract Parsons Corporation received from USPS?

No, this is the third consecutive contract Parsons has secured with USPS.

What type of services will Parsons Corporation provide under the USPS contract?

Parsons will provide program management, architectural and engineering design, and construction management services.

When was the USPS contract awarded to Parsons Corporation?

The contract was awarded on February 22, 2021.