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) successfully delivered the secondary payload on the SBIRS GEO5 satellite launch under its $100 million Launch Manifest Systems Integrator contract. This contract, awarded in 2019, aims to enhance space access and optimize launch delivery. The payloads, Technology Demonstration Orbiters TDO-3 and TDO-4, were integrated for the May 18 launch, supporting the U.S. Space Force's objectives. To date, Parsons has facilitated three successful launches and has four additional missions contracted through 2023, aimed at cost-effective solutions for U.S. Government spacecraft.
Parsons Corporation (NYSE: PSN) has announced a definitive agreement to acquire BlackHorse Solutions, Inc. for $203 million. This acquisition aims to bolster Parsons' capabilities in cyber, electronic warfare, and information dominance.
BlackHorse, founded in 2018, is anticipated to generate approximately $100 million in revenue for 2022 and is expected to enhance Parsons' revenue growth and adjusted EBITDA margins. The deal is set to close in July 2021, pending customary conditions.
Parsons Corporation (NYSE: PSN) announced participation in the Stifel 2021 Virtual Cross Sector Insight Conference. The event will take place on June 8, 2021, featuring a fireside chat with Chuck Harrington, Chairman and CEO, and George Ball, CFO, starting at approximately 3:20 p.m. Eastern Time.
The presentation will be live streamed on the investor relations section of Parsons’ website, with a replay available for 90 days. Parsons is recognized for its innovative solutions in the defense, intelligence, and infrastructure sectors.
Parsons Corporation (NYSE: PSN) announced the upgrade of its airborne mission planning software, C2Core® Air, enhancing combat operations with a new cloud-native feature. This upgrade supports faster mission planning and operator reaction times while maintaining compliance with cloud standards. The software is utilized by various defense branches, including the U.S. Air Force and Royal Australian Air Force, to streamline combat air operations. Parsons aims to improve mission effectiveness through advanced planning capabilities and an integrated intelligence database.
Parsons Corporation (NYSE: PSN) will participate in the Jefferies Virtual IT Services Summit on May 25, 2021, featuring President and COO Carey Smith and CFO George Ball in a fireside chat. The session is scheduled for 12:00 p.m. Eastern Time and will be accessible via live webcast on Parsons' investor relations page.
The webcast will remain available for replay for 30 days. Parsons is recognized as a leading provider of disruptive technology across defense, intelligence, and critical infrastructure sectors, focusing on areas such as cybersecurity and smart cities.
Parsons Corporation (NYSE: PSN) announced a $27 million change order from the Georgia Department of Transportation to continue its role in the I-285/I-20 East Interchange reconstruction. The contract includes concept development, environmental documentation, and various technical services. This project is part of Georgia DOT's Major Mobility Investment Program aimed at enhancing road safety, reducing travel times, and decreasing pollution. The contract extension will sustain Parsons' support through 2025, aligning with its commitment to sustainability and improved travel for Georgia's citizens.
Parsons Corporation (NYSE: PSN) has secured a task order contract valued at up to $185 million from the Space and Missile Systems Center for Integrated Solutions for Situational Awareness (ISSA) support. The contract features a one-year base period with four additional one-year options. Parsons will provide specialized IT engineering, software development, and data analytics services, enhancing the ISSA system for over 5,000 users. This contract underscores Parsons' commitment to delivering innovative solutions in the space domain.
Parsons Corporation (NYSE: PSN) has appointed Jason Yaley as the new chief communications officer, effective May 17. Yaley, previously chief management officer at ACT I, brings extensive experience in corporate communications and employee engagement. His leadership is expected to enhance Parsons' brand awareness and support its growth strategy. With a career background spanning public and private sectors, Yaley aims to showcase the company's contributions in defense, intelligence, and critical infrastructure.
Parsons Corporation (NYSE: PSN) will present at the Goldman Sachs Industrials & Materials Conference 2021 on May 13, 2021, at 1:00 p.m. Eastern Time. Carey Smith, President and COO, alongside George Ball, CFO, will lead a fireside chat session. The presentation will be accessible via a live webcast on Parsons’ investor relations website, with a replay available for 30 days. Parsons is known for its innovative technologies in defense, intelligence, and critical infrastructure, including cybersecurity and smart cities.
Parsons Corporation (NYSE: PSN) announces Jonathan Hegwood as the first recipient of the 2021 MMAA Donna Johnson Military Spouse Scholarship. This scholarship supports military spouses in their education. Hegwood is a U.S. Army veteran and has overcome Stage III lymphoma, currently studying for a Bachelor of Business Administration in Computer Information Systems. He focuses on promoting equity and inclusion, particularly in tech. Parsons aims to enhance support for military families through this initiative, honoring the legacy of Staff Sgt. Donna Johnson.
FAQ
What is the current stock price of Parsons Corporation (PSN)?
What is the market cap of Parsons Corporation (PSN)?
What is Parsons Corporation known for?
How many employees does Parsons have?
What are the main business segments of Parsons?
Can you name a recent significant project by Parsons?
What is the ZEUS® directed energy system?
What is Parsons' role in the Los Angeles World Airports' Capital Improvement Program?
How does Parsons contribute to the sustainability of the Texas electrical grid?
What sectors does Parsons provide services for?
Where can I find more information about Parsons' services and projects?
Is Parsons a publicly traded company?
