Parsons Corporation - PSN STOCK NEWS

Parsons Corporation (NYSE: PSN) is hosting the second AFCEA TECHNET International Capture the Flag event at the Georgia Cyber Center on January 28, 2021. This competition aims to enhance partnerships among allied nations and improve collective cyber capabilities amid increasing global digital threats. The event features 61 teams from 15 countries, including the U.S., Canada, and Germany. Parsons emphasizes the importance of collaboration in cybersecurity, as highlighted by VP Tom Barnes. For more information on Parsons' cyber capabilities, visit Parsons' website.

Parsons Corporation (NYSE: PSN) announced that its recent acquisition, Braxton Technologies, received the prestigious Tibbitts Award for excellence in SBIR and STTR efforts. Braxton's leader, Ed Baron, was also honored with an individual Tibbetts Award for his significant contributions to the defense sector. This recognition underscores Braxton's impact on the Colorado Springs economy, generating over $370 million for local businesses. Since 2013, Braxton has secured $160 million in Phase III SBIR funding, aiming to enhance its capabilities within Parsons' space solutions market.

Parsons Corporation (NYSE: PSN) introduced RailPulse™, a software solution that optimizes the data from Positive Train Control (PTC) systems. This innovative platform automates reporting and diagnostics, significantly cutting down time and costs compared to manual methods. RailPulse™ allows rail operators to enhance performance and safety by providing customized analysis and adapting to evolving Federal Railroad Administration (FRA) reporting needs. The product integrates with existing PTC systems, emphasizing Parsons' commitment to improving the efficiency of rail transportation.

The joint venture of COWI, Parsons (NYSE:PSN), and SYSTRA has been awarded a significant contract by DSB for consultancy services on the automation of the S-train system in the Greater Copenhagen Area, Denmark. This contract spans eight years with potential extensions, aiming to convert the traditional rail system to a fully automated transport network. The project is expected to enhance mobility, support a greener urban environment, and improve passenger capacity, representing a key advancement in public transit optimization.

On January 25, 2021, Parsons Corporation (NYSE: PSN) announced its leadership of an industry team, including Leidos (NYSE: LDOS) and SAIC (NYSE: SAIC), for a 10-year, $953 million contract with the U.S. Air Force. This initiative aims to design and maintain Air Base Air Defense (ABAD) systems across Europe and Africa, addressing emerging asymmetric threats. The team will utilize advanced technologies and an open architecture approach to enhance air base defense capabilities, ensuring protection for military assets in contested environments.

Parsons Corporation (NYSE:PSN) will report its fourth quarter and fiscal year 2020 financial results on February 24, 2021, before market opening. A conference call to discuss the results and corporate strategies will follow at 8:00 a.m. ET. Investors can access the call via the company's website or by dialing designated numbers. A replay will be available shortly after the call and for a year on the website. Parsons is recognized in defense, intelligence, and infrastructure sectors, focusing on cybersecurity, missile defense, and smart city technologies.

On December 28, 2020, Parsons Corporation (NYSE: PSN) announced it has secured contracts worth over $16 million for bridge projects in Illinois, Iowa, and Michigan. These projects include the preliminary design and engineering for a major river crossing and several long span bridges. Mark Fialkowski, EVP of Mobility Solutions at Parsons, emphasized the company's extensive experience in bridge design spanning over 70 years. Notably, the work includes repeat projects on key infrastructure like Michigan's Mackinac Bridge, reinforcing their commitment to enhancing community connectivity.

On December 21, 2020, Parsons Corporation (NYSE: PSN) announced the appointment of Carey Smith to its board of directors. Smith, who has been with Parsons since 2016, is currently the president and COO, responsible for global operations and growth strategies. CEO Chuck Harrington praised her operational leadership and experience as critical to the company's success. Smith expressed enthusiasm for driving innovation and addressing customer challenges as a board member. Her extensive qualifications include a doctorate and master's degrees in electrical engineering.

Parsons Corporation (NYSE: PSN) has successfully completed the deployment of its Positive Train Control (PTC) system for NJ TRANSIT. This state-of-the-art safety technology is the first of its kind for NJ TRANSIT and complies with Federal Railroad Administration guidelines while utilizing existing rail infrastructure. The initiative enhances passenger safety and supports rail network optimization. Key stakeholders, including Amtrak and Norfolk Southern, collaborated to ensure system interoperability. Parsons aims to leverage PTC data for further technological advancements in rail operations.