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) has successfully completed the acquisition of BlackHorse Solutions, Inc. for $203 million. This strategic move enhances Parsons' offerings in military, intelligence, and space operations, specifically in cyber and electronic warfare. The acquisition aligns with Parsons’ strategy of pursuing accretive acquisitions with revenue growth and strong adjusted EBITDA margins. BlackHorse’s innovative technology will bolster the company's capabilities in information dominance for defense and intelligence customers.
Parsons Corporation (NYSE:PSN) is set to announce its second quarter 2021 financial results on August 4, 2021, before market opening. A conference call will follow at 8:00 a.m. Eastern Time to discuss the earnings and strategic initiatives. Interested parties can access the webcast via the company’s Investor Relations webpage and participate by phone using specific dialing codes. Replays of the conference will be available on the website for one year and via phone until August 11, 2021.
Parsons Corporation (NYSE: PSN) has secured a $23.5 million contract with the Los Angeles County Metropolitan Transportation Authority (LA Metro) to provide engineering services for 17 miles of express lanes on Interstate 10 (I-10). This project enhances the existing 64-mile express lane corridor between Los Angeles and San Bernardino counties. Parsons' involvement will include environmental reporting and operational concepts, demonstrating a commitment to improving regional transportation.
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.
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