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Parsons Corporation (NYSE: PSN) delivers cutting-edge engineering and technology solutions for critical infrastructure, defense systems, and global security challenges. This news hub provides investors and industry professionals with timely updates on Parsons' strategic developments, project milestones, and operational achievements.
Access official press releases covering federal contract awards, transportation innovations, cybersecurity advancements, and environmental remediation initiatives. Our curated collection includes earnings reports, acquisition announcements, and leadership updates essential for understanding Parsons' market position in the engineering services sector.
Discover updates on Parsons' Federal Solutions division supporting national security programs and Critical Infrastructure projects enhancing urban mobility. Track the company's integration of AI-driven design tools and sustainable construction practices across global operations.
Bookmark this page for reliable updates on Parsons' engineering breakthroughs, government partnerships, and technological investments. Check regularly for insights into how PSN addresses complex infrastructure demands through its employee-owned operational model.
Parsons Corporation (NYSE: PSN) will host a virtual Investor Day on March 11, 2021, focusing on its vision, strategy, and financial targets. The event will feature presentations from key executives, including CEO Chuck Harrington and CFO George Ball. Attendees can expect insights on growth initiatives across various sectors, including cybersecurity and critical infrastructure. The event is set for 9:00 a.m. to 11:30 a.m. ET and will include Q&A sessions with the leadership team. Interested parties can register at investorday.parsons.com.
Parsons Corporation (NYSE: PSN) has secured an indefinite-delivery, indefinite-quantity (IDIQ) contract from the U.S. Air Force Civil Engineer Center, valued at $2 billion over a potential 10-year period. The contract includes design, construction management, and modernization of Air Force Bases globally, with a five-year base contract and an optional five-year extension. This contract marks a continuation of Parsons' 60-year partnership with the U.S. Air Force and follows their previous AE13DCS contract.
Parsons Corporation (NYSE: PSN) reported Q4 and full-year 2020 results, revealing a 7% decline in quarterly revenue to $964 million, affected by COVID-19 impacts. Operating income surged 71% to $42 million, leading to a net income increase to $22 million. Full-year revenue of $3.9 billion saw a 1% decrease, with adjusted EBITDA rising 5% to $343 million. The company maintained a solid cash flow of $176 million for Q4. Notable contract wins included a $1.2 billion rail project in Edmonton. Guidance for 2021 expects revenue between $3.85 billion and $4.05 billion.
Parsons Corporation (NYSE: PSN) has secured a seven-year contract from the U.S. Postal Service (USPS), valued at up to $600 million. This marks the company's third consecutive contract with USPS, supporting ongoing modernization efforts. Parsons aims to enhance mail service reliability through expertise in program management and construction. The contract encompasses various USPS initiatives, including self-service kiosks and facility modernization.
Parsons Corporation (NYSE: PSN) received a task order from the National Geospatial-Intelligence Agency (NGA) under the MOJAVE Functional Area 2 (FA2) contract, marking the seventh task order awarded since 2017, with a cumulative value exceeding $200 million. The six-month base contract with two option years emphasizes strengthening the nation's counter insider threat mission. Since 2012, Parsons has enhanced the NGA's insider threat program through advanced analytics, driving efficiency in data review and contributing to multiple NGA awards.
Parsons Corporation (NYSE: PSN) has secured a five-year contract worth $69 million from the U.S. Army Combat Capabilities Development Command to advance exploratory technologies aimed at enhancing the operational capabilities of American warfighters. The contract will focus on developing computational architectures, scalable technologies, and machine learning applications to improve tactical computing and high-performance computing services. Work will be conducted at various Army facilities in Maryland and New Mexico, reinforcing Parsons' commitment to delivering disruptive technology in defense.
Parsons Corporation (NYSE: PSN) has been awarded a multi-award COVID-19 testing contract by the Department of Homeland Security (DHS), with a shared ceiling value of $2 billion. This contract supports DHS employees through managed testing services and molecular diagnostic testing. The company plans to utilize its innovative DetectWise™ health monitoring solutions, which include touchless kiosks for temperature screening and COVID-19 test history management. The partnership aims to enhance safety and operational efficiency amidst the ongoing pandemic.
Parsons Corporation (NYSE: PSN) will participate in the Cowen 42nd Annual Aerospace/Defense & Industrials Conference on February 9, 2021, at approximately 12:40 p.m. Eastern Time. CEO Chuck Harrington and CFO George Ball will engage in a fireside chat during the session. Investors can access the live presentation via webcast on Parsons' investor relations website, with a replay available for 30 days. Parsons is a leader in disruptive technology for defense, intelligence, and critical infrastructure, emphasizing cybersecurity, missile defense, and smart cities.
