Parsons Corporation - PSN STOCK NEWS

Parsons Corporation (NYSE: PSN) will host its Investor Day on March 15, 2023, at the New York Stock Exchange. The event begins at 9:00 am ET, featuring presentations from top executives, including CEO Carey Smith and CFO Matt Ofilos. They will discuss the company’s vision, strategies, key initiatives, and financial objectives. Interested analysts and institutional investors can register on Parsons’ investor relations website and access a live webcast. Parsons is recognized as a leading technology provider in national security and global infrastructure, with diverse capabilities in cyber, space defense, transportation, and urban development.

Parsons Corporation (NYSE: PSN) has secured an $18 million task order to enhance air defense capabilities for U.S. Air Forces-Europe and Air Forces Africa. The task order focuses on countering threats from unmanned aerial systems and cruise missiles, to be executed at Ramstein Air Base, Germany. This initiative is part of a larger 10-year, $953 million contract awarded in 2021 for air-base air-defense systems across Europe and Africa. The project aims to develop scalable solutions ensuring force protection and operational efficiency in a rapidly evolving threat environment.

Parsons Corporation (NYSE: PSN) has announced a global strategic partnership with Microsoft aimed at enhancing digital transformation and cybersecurity capabilities. This collaboration is set to leverage Microsoft's Azure cloud and AI technologies alongside Parsons' expertise in national security and infrastructure. The partnership intends to deliver innovative solutions across various sectors, improving the efficiency and security of operations. Additionally, both companies will focus on developing training programs for future cybersecurity professionals. This agreement underscores Parsons' commitment to leveraging technology for improved infrastructure management.

Parsons Corporation (NYSE: PSN) has announced its role in providing Capital Project Management Services for Phase 2 of the Los Vaqueros Reservoir Expansion, partnering with Contra Costa Water District (CCWD) and GEI Consultants Inc. The project aims to enhance water supply reliability and quality for over 500,000 customers in the San Francisco Bay Area by increasing the reservoir's capacity from 160,000 to 275,000 acre-feet. Parsons will employ its digital solutions, Parsons X, to improve project efficiency. The Phase 2 project aligns with state and federal objectives and will receive funding from various governmental sources and local stakeholders.

Parsons Corporation (NYSE: PSN) has been awarded a $30 million contract by Santa Clara Valley Water District for construction management services on the Rinconada Water Treatment Plant Reliability Improvement Project, Phases 3-6. This project aims to enhance operational reliability, and water quality while retrofitting key equipment. Key upgrades will include raw water ozonation and dual media filtration, increasing treatment capacity from 80 MGD to 100 MGD. The initiative will maintain plant operations during construction, addressing risks effectively and ensuring compliance with stringent safety standards.

Parsons Corporation (NYSE: PSN) has secured a position on a $900 million Air Force modeling, simulation, and analysis contract, which includes a five-year performance period and options extending to November 2032. This contract supports the Air Force’s objectives in capability planning and system modeling. Parsons aims to enhance defense capabilities in response to evolving threats through its advanced modeling and simulation solutions. The firm has been a long-time provider of support to the Air Force, showcasing its commitment to developing elite military capabilities.

Parsons Corporation (NYSE: PSN) has secured a $21 million contract to provide command, control, communications, computers, and capabilities development (C4CD) services to the U.S. Cyber Command (CYBERCOM). This one-year contract reflects Parsons' ongoing support for CYBERCOM since 2016, awarded by the General Services Administration (GSA). The technical support includes tool development, cyber security engineering, and IT solutions. The contract aims to enhance military cyberspace operations, ensuring robust defense against cyber threats.

Parsons Corporation (NYSE: PSN) has secured a $49 million indefinite-delivery multiple award contract from the US Army Corps of Engineers (USACE) Mobile District South Atlantic Division. The contract spans five years and focuses on construction management services for military and civil projects. Parsons has a robust history with the USACE, previously executing over 40 task orders worth more than $2 billion. This is the fourth consecutive contract with the Mobile District, reinforcing Parsons' capabilities in supporting infrastructure development crucial for the nation's economy.

Parsons Corporation (NYSE: PSN) reported record financial results for Q4 and fiscal year 2022. Q4 revenue reached $1.1 billion, marking a 16% growth, with net income of $28 million. The full year saw revenues of $4.2 billion, up 15%, and net income surged to $97 million. Adjusted EBITDA for the quarter was $98 million, an 8% increase, while full-year adjusted EBITDA was $353 million. The company secured eleven contracts worth over $100 million each in 2022 and anticipates 2023 revenue guidance of $4.375 billion to $4.575 billion. CEO Carey Smith highlighted strong performance driven by organic growth and successful acquisitions.