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About Parsons Corporation (NYSE: PSN)
Parsons Corporation, founded in 1944, is a leading provider of technology-driven solutions in the national security and global infrastructure markets. Operating under two primary business segments—Federal Solutions and Critical Infrastructure—the company addresses some of the world's most complex challenges by combining advanced technology with engineering expertise.
Federal Solutions Segment
The Federal Solutions segment focuses on delivering innovative technologies and services to the U.S. government and allied nations. Parsons provides mission-critical solutions in areas such as cybersecurity, intelligence, space and missile defense, and critical infrastructure protection. By integrating artificial intelligence, edge computing, and advanced analytics, Parsons enhances national security capabilities, enabling governments to counter emerging threats effectively. This segment also includes specialized defense solutions, such as the development of AI-powered targeting sensors and cybersecurity hardware like the Cyber-Fly-Away Kits, which are tailored for rapid deployment in high-stakes environments.
Critical Infrastructure Segment
The Critical Infrastructure segment provides integrated design and engineering services for transportation systems, water and wastewater management, environmental remediation, and urban development. Parsons has contributed to transformative projects such as the San Diego Pure Water Program, which aims to ensure water sustainability, and the Austin Light Rail system, a pivotal initiative to enhance urban mobility. The company also excels in environmental remediation, leveraging advanced technologies like PerfluorAd™ to address PFAS contamination.
Competitive Strengths and Market Position
Parsons distinguishes itself through its ability to integrate disruptive technologies with traditional engineering disciplines. Its employee ownership model fosters a culture of innovation and accountability, while its global footprint enables it to execute projects in diverse environments, from the Antarctic to urban centers. With a portfolio spanning cyber and intelligence, space and missile defense, and critical infrastructure, Parsons is uniquely positioned to address the evolving needs of both government and private sector clients.
Global Impact
Parsons operates in over 29 countries and employs more than 15,000 professionals. Its projects often have far-reaching impacts, enhancing community resilience, promoting sustainability, and advancing national security. Notable initiatives include its work with the National Science Foundation in Antarctica, where Parsons supports scientific research through advanced logistics and infrastructure solutions, and its contributions to energy resilience projects like the Pesquera Army Reserve Center Microgrid in Puerto Rico.
Core Values and Expertise
Parsons is committed to solving the most pressing challenges of our time through a combination of technological innovation, engineering excellence, and dedication to sustainability. Its expertise spans critical domains, including cybersecurity, transportation, water management, and environmental remediation, making it a trusted partner for governments and businesses worldwide.
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.
Parsons Corporation (NYSE: PSN) has appointed Jon Moretta as president of its engineered systems business unit, effective immediately. Moretta joined Parsons in 2016, previously leading the industrial market in critical infrastructure. Under his management, the industrial business has executed major mine closure projects and environmental remediation globally. The company has been recognized in ENR's Top 200 Environmental Firms and is expanding its PFAS life cycle solution for water treatment across over 250 projects. He replaces Chris Alexander, who announced his retirement.
Parsons Corporation's subsidiary, BlackHorse Solutions, was awarded the 2021 Growth Company of the Year by ACG National Capital for companies with revenue between $25 to $75 million. This accolade follows BlackHorse's acquisition by Parsons in July 2021, enhancing its capabilities in military and intelligence operations, particularly in AI, cyber, and information dominance. ACG National Capital's awards recognize growth strategies and successful corporate achievements. Parsons continues to receive accolades for its strong growth and leadership in defense and critical infrastructure.
Parsons Corporation (NYSE: PSN) has secured a significant contract with the U.S. Air Force, winning a position on the Eglin Wide Agile Acquisition Contract (EWAAC). This contract spans 10 years with a ceiling value of $46 billion, focusing on advanced digital systems engineering, weapons integration, and data analytics for Eglin AFB. The contract aims to enhance the rapid development of novel weapons capabilities, ensuring tactical superiority through innovative technologies and agile processes.
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