Parsons Stock Price, News & Analysis

Parsons Corporation (NYSE: PSN) is set to showcase advanced operational technologies at the Space & Missile Defense Symposium from August 9-11, 2022, in Huntsville, Alabama. The company emphasizes its role in enhancing mission effectiveness for the Department of Defense through innovative solutions in missile defense, hypersonic tracking, and cybersecurity. Senior VP James Lackey will discuss modernization strategies during a panel on August 10. Key technologies demonstrated include the Assured Positioning System and C2Core® command and control system, both aimed at addressing evolving global security threats.

Parsons Corporation (NYSE: PSN) will present at the 2022 Jefferies Industrials Conference in New York City on August 10, 2022, at 8:30 a.m. Eastern Time. Presenters include Carey Smith, chair and CEO, and Matt Ofilos, CFO. The presentation will be live-streamed on the investor relations section of Parsons' website and available for 30 days as a replay. Parsons is recognized for its leading role in national security and critical infrastructure solutions, focusing on areas such as cybersecurity and missile defense.

Parsons Corporation (NYSE: PSN) has unveiled the first of 44 Automated People Mover (APM) vehicles for Los Angeles International Airport (LAX). This 2.25-mile electric train system aims to enhance passenger experience, alleviate traffic congestion, and connect key airport areas. The project, supported by Parsons since 2017, utilizes eco-friendly technology and aims for zero emissions. The APM will operate 24/7, offering free service to the public, and integrates with regional transport facilities.

Parsons Corporation (NYSE: PSN) reported a 15% revenue increase year-over-year in Q2 2022, reaching $1,009 million, driven by organic growth of 9%. Net income surged 173% to $18 million, with adjusted EBITDA up 18% to $77 million. The company completed the strategic acquisition of Xator for $388 million, enhancing its presence in national security and infrastructure sectors. Parsons raised its fiscal year revenue and adjusted EBITDA guidance, reflecting strong operating performance and growth opportunities. The book-to-bill ratio stood at 1.0x, with total backlog at $8.2 billion.

Parsons Corporation (NYSE: PSN) has announced a strategic partnership with AVEVA Group plc, enhancing its digital capabilities in project and asset management. This collaboration integrates AVEVA’s advanced industrial software solutions into Parsons X, a vendor-agnostic toolbox aimed at improving project efficiency across sectors such as renewable energy and chemicals. With AVEVA’s established market presence, serving over 75% of global oil production and numerous power plants, this partnership is expected to accelerate digital transformation for clients, optimizing costs and maintenance strategies.

Parsons Corporation (NYSE: PSN) has been awarded a contract by the Defense Threat Reduction Agency (DTRA) worth $850 million. This indefinite delivery/indefinite quantity (IDIQ) contract spans five years with a five-year option. Parsons will provide crucial support in areas like training, threat assessment, and mission planning to enhance national and international security. With over two decades of experience working with DTRA, Parsons aims to deliver innovative solutions to counter emerging vulnerabilities and threats globally.

Parsons Corporation (NYSE: PSN) announced the appointment of Matt Ofilos as its new Chief Financial Officer (CFO) on July 25, 2022, succeeding George Ball, who will remain as an advisor until September. Ofilos, with over 20 years of experience in finance, previously held key financial roles at Amazon Web Services and Raytheon. The board also appointed George Ball and Ellen Lord, former Under Secretary of Defense, as directors. Ofilos aims to continue driving growth and operational excellence within the company.

Parsons Corporation (NYSE: PSN) will announce its Q2 2022 financial results on August 3, 2022, prior to market opening. A conference call is scheduled for 8:00 a.m. ET that day to discuss earnings and corporate strategies. Interested investors can access the live call via the company's Investor Relations page, and a replay will be available shortly after the call for one year. Parsons specializes in disruptive technology within security, intelligence, and critical infrastructure sectors, including cybersecurity and smart cities.

Parsons Corporation (NYSE: PSN) has been selected by the Greater Asheville Regional Airport Authority (GARAA) for a significant $240 million project to modernize and expand the airport terminal. The new facility will replace the existing terminal with a 275,000 square foot building featuring 12 boarding gates, enhancing the travel experience for increasing passenger numbers. This five-year contract will ensure extensive management during construction, minimizing disruptions. Parsons aims to leverage its aviation expertise and digital transformation capabilities to deliver the project on schedule and budget.