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) released its 2021 corporate social responsibility (CSR) report, detailing its commitment to environmental, social, and governance (ESG) initiatives. The report introduces the new strategy, Cultivating a Responsible Enterprise (CARE), targeting a 20% reduction in greenhouse gas emissions by 2025, alongside efforts to enhance gender and ethnic diversity. CEO Chuck Harrington emphasized the company's resilience despite 2020 challenges and its dedication to customer service. The CSR report aims to improve accountability and transparency in ESG reporting.
Parsons Corporation (NYSE: PSN) has appointed Carey Smith as the new CEO, effective July 1, 2021, succeeding Chuck Harrington, who retires after nearly 40 years with the company. Harrington will remain on the board as executive chairman. Smith, who joined Parsons in 2016, has held various leadership roles, enhancing organic growth and overseeing successful acquisitions. The board unanimously supports Smith's leadership as the company aims for future profitable growth and continued innovation in technology solutions.
Parsons Corporation (NYSE: PSN) has been awarded a contract by the City of Toronto for the F.G. Gardiner Expressway Rehabilitation project, valued at over $10 million. This role includes engineering advisory services and project management for vital upgrades along the highway. Additionally, Parsons was selected for a roster of potential vendors for engineering consulting services, potentially worth $7 million. This strengthens Parsons' position as a key mobility solutions provider in Toronto, where it has a longstanding presence since the 1940s.
Parsons Corporation (NYSE: PSN) announced a contract amendment worth 94 million CAD ($75 million USD) for Giant Mine projects in Northwest Territories, Canada. This amendment extends Parsons' role as the Main Construction Manager for the mine's remediation efforts. The contract focuses on a thermosyphon-based process to freeze arsenic trioxide waste, along with constructing a landfill and deconstructing the townsite. Parsons has been involved in managing 237 thousand tonnes of arsenic waste since 2017.
Parsons Corporation (NYSE: PSN) will release its first quarter 2021 financial results on May 5, 2021, prior to market opening. The company will host a conference call at 8:00 a.m. ET on the same day to discuss earnings and corporate strategies. Access to the call will be available via webcast on Parsons' website. A replay will be accessible approximately two hours post-call, lasting for one year. Parsons is a leader in disruptive technology in defense, intelligence, and critical infrastructure markets, specializing in cybersecurity, missile defense, and smart cities.
Parsons Corporation (NYSE: PSN) will support the National Security Agency's Cyber Exercise (NCX) from April 8-10, 2021. This three-day virtual competition aims to improve cybersecurity skills among participants from U.S. Service Academies and military colleges. The event will feature five modules covering critical areas such as cryptography and cyber policy. Nicholas Jackson, VP of Parsons' cyber business, highlighted the importance of real-world applications to enhance the readiness of military personnel. The company has hosted 70 similar events nationwide, emphasizing its commitment to advancing cybersecurity capabilities.
Parsons Corporation (NYSE: PSN) has launched GreenFish™, a cutting-edge spectrum awareness solution aimed at enhancing operational capabilities for the U.S. Department of Defense and global allies. Leveraging artificial intelligence and machine learning, GreenFish enables real-time detection of radio frequency signals, providing a tactical advantage in combat scenarios. Its autonomous system facilitates online learning and knowledge sharing among connected units, resulting in improved decision-making and mission success.
On April 6, 2021, Parsons Corporation (NYSE: PSN) CEO Chuck Harrington will participate in the 2021 Global Infrastructure Initiative Summit, hosted by McKinsey. He will address critical infrastructure's cybersecurity threats and propose solutions for resilience in a post-COVID world. Harrington emphasizes the need for sustainable infrastructure and the importance of integrating robust cybersecurity measures. The summit runs from April 6-8, 2021, focusing on future projects and evolving industry trends such as digitization and technology investment.
Parsons Corporation (NYSE: PSN) has secured a significant indefinite-delivery, indefinite-quantity (IDIQ) contract from the Defense Intelligence Agency (DIA) for the Solutions for Information Technology Enterprise III (SITE III), valued at $12.6 billion over ten years. This contract focuses on providing strategic IT services to enhance the DIA's operations and modernization efforts. It will support various military branches and agencies, following the expiration of the previous E-SITE IT contract.
Parsons Corporation (NYSE: PSN) has secured a $250 million IDIQ contract from the Naval Information Warfare Center Pacific for maritime ISR and information operations. The contract includes a $145 million base period and an optional $105 million over two years. This initiative allows the U.S. Navy to enhance ISR capabilities while addressing technological advancements and security challenges. Parsons aims to support all-domain operational effectiveness, contributing to the Navy's mission globally.
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