Parsons Corporation - PSN STOCK NEWS

Parsons (NYSE: PSN) has entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Army C5ISR Center to support Project Linchpin, the Army's emerging Artificial Intelligence and Machine Learning (AI/ML) Program. Under the agreement, Parsons will analyze datasets, models, and deployment scenarios to establish metrics, specifications, and governance for AI/ML operational use cases.

The company will collaborate with C5ISR and Project Linchpin to develop deployment and model monitoring standards, supporting streamlined ML operations across the Army community. Project Linchpin, led by the Army's Program Executive Office for Intelligence, Electronic Warfare, and Sensors, aims to deliver trusted AI capabilities across the Army enterprise through its AIOps+ ecosystem.

Parsons brings experience from previous AI/ML implementations, including Project Maven from 2017, and has a history of supporting the Army and other DoD partners in integrating emerging technologies.

Parsons (NYSE: PSN) has secured a task order extension for the San Diego Pure Water Program, continuing its role in an eight-year, $110 million joint venture contract with Black & Veatch awarded in 2018. The project focuses on providing construction management services for treatment plants and facilities.

The program aims to reduce San Diego's dependence on imported water by producing 83 million gallons of water daily by 2035, representing nearly half of the city's water supply. The initiative will also cut treated wastewater ocean discharges by 50%.

Under the extension, Parsons will continue managing construction of the North City Pure Water Facility (NCPWF), a state-of-the-art treatment facility designed to produce up to 34 million gallons of water daily during Phase 1 of the program.

Parsons (NYSE: PSN) has announced it will release its fourth quarter and fiscal year 2024 financial results before market opening on Wednesday, February 19, 2025. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss earnings results and strategic corporate initiatives.

Investors can access the live conference call webcast through the company's Investor Relations website. Interested parties can also participate via telephone by registering through the website. A replay of the conference call will be available on Parsons' website for one year, approximately two hours after the live event.

SealingTech, a Parsons company (NYSE: PSN), has appointed former Navy Commander Brad Hatcher as its new Chief Product Officer (CPO). With a 20-year Navy career, Hatcher previously served in key positions including Network Operations Lead at 10th Fleet and Cyber Protection Team Operations Group Director at JFHQ-DODIN.

In his new role, Hatcher will focus on strengthening and streamlining SealingTech's hardware production and software development processes to address evolving cyber threats and meet increasing demands from Federal Government and enterprise customers, including the United States Cyber Mission Forces.

Hatcher brings extensive experience in global network operations and cybersecurity within Department of Defense (DoD) organizations, with a proven track record in improving cyber defense capabilities and reducing cybersecurity risk.

Parsons (NYSE: PSN) has been selected as part of the LINC Austin team for the $7 billion Austin Light Rail project. The team, including AECOM, STV, Turner & Townsend, Ardmore Roderick, and CAS Consulting, will serve as Delivery Partner under an initial four-year contract.

As a major subconsultant to AECOM, Parsons will provide systems integration support, interface management, construction management, quality management, and design management services. The project includes developing 9.8 miles of new light rail lines and 15 stations to enhance connectivity across Austin, Texas.

Parsons (NYSE: PSN) has secured a $20 million contract from the U.S. Army Corps of Engineers Louisville District for the LTC Hernan G. Pesquera Army Reserve Center Microgrid project in Puerto Rico. The 610-day project involves installing a comprehensive microgrid system, including security measures, generators, photovoltaic cells, battery storage, and controllers.

This new contract builds upon Parsons' existing work in Puerto Rico, following their November 2023 selection for a $5 billion multiple-award contract to provide temporary power generation for Puerto Rico's power grid stabilization project. The company will implement critical infrastructure protection capabilities to enhance energy reliability, resilience, and sustainability at the Army Reserve Center in Juana Diaz.

Parsons (NYSE: PSN) has achieved a significant milestone by successfully integrating its Threat Representative Environment (TReX) emulator onto a SeaTrac Unmanned Surface Vehicle (USV) during maritime operations in the Gulf of Mexico. The demonstration, conducted in November in collaboration with the University of Southern Mississippi, Mississippi Air National Guard, and SeaTrac Systems, marks a breakthrough in U.S. Air Force training operations.

The TReX system simulates real-world threats using advanced algorithms and real-time data, while the solar-powered SP-48 USV enables 24/7 mission execution without human risk. This integration provides a cost-effective solution for military training, reducing operational expenses compared to manned vessels while maintaining high-fidelity simulation capabilities.

Parsons (NYSE: PSN) has been awarded a $23 million contract by the California Department of Transportation (Caltrans) to provide engineering and inspection services for structure construction projects in Districts 1, 2, and 3-North. The contract extends Parsons' long-standing relationship with Caltrans, dating back to 2007, focusing on bridge rehabilitation, new bridge construction, and retaining walls.

The project aims to improve California's transportation system through roadway rehabilitation, new facility construction, and infrastructure modifications. This initiative is particularly significant with upcoming high-profile events like the Olympics and World Cup. Parsons brings extensive experience, having completed over 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments.

Parsons (NYSE: PSN) has formed a joint venture with V2X called Polar Science Alliance (PSA) to pursue the National Science Foundation's Antarctic Science and Engineering Support Contract. The contract has an $8 billion ceiling value and aims to provide scientific research support services for the United States Antarctic Program over the next two decades.

The joint venture combines Parsons' 55 years of polar operations experience and infrastructure expertise with V2X's decade of polar operations and 20 years of science support experience. Parsons brings experience in polar operations and infrastructure modernization, while V2X contributes its expertise in supporting operations in remote and complex environments.