Welcome to our dedicated page for Parsons Corporation news (Ticker: PSN), a resource for investors and traders seeking the latest updates and insights on Parsons Corporation stock.
Parsons Corporation (NYSE: PSN) is a pioneering company in the fields of engineering, construction, technical, and management services. Founded in 1944, Parsons has grown to become a leader in delivering innovative, technology-driven solutions across a variety of markets, including defense, intelligence, and critical infrastructure.
With a strong workforce of over 15,000 employees, Parsons engages in nearly 5,000 projects across 29 countries. These projects span multiple sectors and involve complex logistical challenges. The company's core services include design/build, program and construction management, and professional services tailored to meet the needs of both private industrial clients and government entities at the federal, regional, and local levels.
One of Parsons' significant achievements is obtaining a $28 million contract from the U.S. Air Force Research Laboratory for the development of intelligence, surveillance, and reconnaissance software. This contract extends Parsons' portfolio in supporting the Department of Defense and the Intelligence Community. The company is also renowned for its ZEUS® directed energy system, which has been deployed in Iraq and Afghanistan for neutralizing threats and enhancing operational safety.
Parsons is structured into two primary business segments: Federal Solutions and Critical Infrastructure. The Federal Solutions segment focuses on high-end services and technology for mission-critical projects for the U.S. government. The Critical Infrastructure segment offers integrated design and engineering services for intricate physical and digital infrastructure globally.
Additionally, Parsons has been selected as one of 15 lead consultants for the Los Angeles World Airports' (LAWA) Capital Improvement Program, a contract valued at nearly $1 billion over five years. This initiative is part of LAWA's broader inclusivity and modernization efforts.
Parsons' commitment to innovation and excellence is further exemplified by its collaborative projects like the Peak-Time Payback program for battery storage-based demand response in Texas, in partnership with Enphase Energy and GVEC. This project is aimed at enhancing the resilience and sustainability of the Texas electrical grid.
To stay updated on Parsons' latest developments and projects, visit their official website at parsons.com and follow their updates on LinkedIn and Facebook.
Parsons Corporation (NYSE: PSN) announced a significant contract award from the U.S. Army Corps of Engineers valued at up to $1.1 billion over ten years. This multiple award task order contract aims to assist the USACE Huntsville in addressing environmental and munitions response challenges. The contract supports military munitions response programs and environmental compliance services. Parsons will utilize advanced technologies, including digital mapping and drone applications, to efficiently tackle these challenges.
Parsons Corporation (NYSE: PSN) announced its leadership in an industry team to collaborate with the U.S. Air Force on a five-year project to sustain and transform the Air Operations Center – Weapons System. The company's experience in prior contracts positions it well for this partnership. Recent wins include significant contracts totaling over $3.7 billion from various Department of Defense agencies. If selected, Parsons aims to deliver mission success and operational continuity for the Air Force.
Parsons Corporation (NYSE: PSN) and local transportation agencies announced the completion of the environmental study for the I-69 Ohio River Crossing project, allowing construction to commence in spring 2022. This four-lane, all-electronic tolled bridge will enhance transport connectivity between Indiana and Kentucky, completing a critical link in the National I-69 corridor. The project includes 11.2 miles of new interstate and improvements to existing roads, with a commitment to environmentally friendly practices. The two-section project is expected to run into 2025.
Parsons Corporation (NYSE: PSN) will unveil its third-quarter 2021 financial results on November 3, 2021, before market opening. A conference call to discuss these results will occur at 8:00 a.m. ET on the same day. Interested participants can access the live event via the company's Investor Relations webpage or dial in using specific phone numbers provided. A replay will be available following the call for one year on the website and for a limited time via phone.
Parsons Corporation (NYSE: PSN) has secured a five-year contract worth $249 million from the Naval Facilities Engineering Systems Command (NAVFAC) Far East. The project aims to enhance infrastructure resilience at the U.S. Navy Support Facility Diego Garcia in the British Indian Ocean Territory. This contract supports both renovation and modernization efforts to improve the mission readiness of the facility. Parsons is committed to leveraging over 75 years of experience to deliver innovative solutions for federal infrastructure.
Parsons Corporation (NYSE: PSN) recently participated in the 48in48 Global Virtual event from October 1-3, 2021, where employees designed websites for 48 nonprofits in 48 hours. This initiative highlights Parsons' commitment to social responsibility and community engagement, reflecting its core values of safety, integrity, and diversity. Teams from various regions, including the first all-Middle East team, contributed to enhancing brand awareness for organizations focused on social justice and youth empowerment. CEO Carey Smith praised employees for their dedication to creating a sustainable future.
Parsons Corporation (NYSE: PSN) has secured a contract to vie for a potential $68 million award supporting the Naval Information Warfare Center Pacific over a three-year period, with four possible one-year extensions. The contract focuses on enhancing command, control, communications, computer, and intelligence (C4I) systems. The company will utilize its technological expertise in areas like artificial intelligence and cyber operations to bolster military communications. CEO Christopher Bush emphasizes the importance of adapting to escalating threats for national security.
Parsons Corporation (NYSE: PSN) has appointed Peter Torrellas as the new president of its connected communities business unit, effective immediately. Torrellas, based in Centreville, Va., joins the Executive Leadership Team and will report to CEO Carey Smith. He brings over two decades of experience in digital transformation within infrastructure sectors, previously leading initiatives at Siemens Advanta. His expertise is expected to enhance Parsons’ capabilities in delivering smart infrastructure solutions as the U.S. shifts towards increased digitalization in critical infrastructure.
Parsons Corporation (NYSE: PSN) has secured a four-year, $145 million contract from the US Army Corps of Engineers for the design and construction of a new Energetic Waste Incinerator at the Radford Army Ammunition Plant in Virginia. This facility aims to modernize hazardous waste disposal while minimizing environmental impacts. The project aligns with Parsons’ commitment to environmental, social, and governance (ESG) priorities, emphasizing safe and compliant waste treatment solutions.
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