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Parsons Corporation - PSN STOCK NEWS

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.

News

Parsons Wins Seat on $245M U.S. Army Corps of Engineers Contract for Environmental Remediation

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Parsons Corporation (PSN) secures a $245 million contract from the US Army Corps of Engineers for environmental remediation projects funded by the Infrastructure Investment and Jobs Act. The five-year contract aims to address hazardous waste cleanup and protect public health, showcasing Parsons' expertise in environmental solutions.
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Parsons’ $800 Million Convertible Senior Note Offering

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Parsons Corporation (PSN) announced the full exercise of a $100 million option to purchase additional notes, increasing the total principal amount to $800 million. The company also entered into capped call transactions and refreshed its stock repurchase authority. Parsons plans to invest in organic and inorganic growth, focusing on national security and global infrastructure solutions.
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Parsons Announces Pricing Of $700.0 Million Of Convertible Senior Notes Due 2029; Enters into Concurrent Capped Call Transactions to Offset Potential Dilution

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Parsons Corporation (PSN) announced a private offering of $700.0 million of 2.625% convertible senior notes due 2029. The company entered capped call transactions to offset potential dilution and granted initial purchasers an option for an additional $100.0 million. The offering is expected to settle soon.
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Parsons Announces Offering Of $700.0 Million Of Convertible Senior Notes Due 2029

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Parsons Corporation (PSN) plans to offer $700.0 million convertible senior notes due 2029 in a private placement. The notes will be senior unsecured obligations, accrue interest semiannually, and mature on March 1, 2029. Parsons intends to use proceeds for capped call transactions, repurchasing existing notes, potential acquisitions, and working capital.
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Soudah Development Awards Project Management Consultancy Contract to Parsons

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Parsons Corporation (PSN) secures a three-year contract to provide project management consultancy services for the development of Soudah Peaks, a luxury mountain tourism destination in Saudi Arabia.
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Parsons Wins $25 Million Transit Improvement Contract from City of Oakland

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Parsons Corporation (PSN) secures a $25 million contract with the City of Oakland Department of Transportation for the Embarcadero West Rail Safety and Access Improvements project. The project aims to enhance transit reliability, safety, and connectivity in Oakland, including pedestrian and rail improvements.
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Parsons Reports Record Results Since IPO for the Fourth Quarter and Fiscal Year 2023

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Parsons Corporation (PSN) reported record financial highlights for the fourth quarter and fiscal year 2023, with revenue reaching $1.5 billion and $5.4 billion, respectively. Net income increased by 60% to $45 million for the quarter and by 67% to $161 million for the year. Adjusted EBITDA rose by 30% to $128 million in Q4 and by 32% to $465 million for the fiscal year. The company also saw a 13% increase in contract awards year-over-year to $1.2 billion for Q4 and a 40% increase to $6.0 billion for the fiscal year.
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Parsons Wins $48M Task Order for Army Command-and-Control System Integration

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Parsons Corporation (PSN) has been awarded a $48 million task order on the U.S. Army’s RS3 contract to support software development for command and control applications. The contract expands their support to the U.S. Army’s RS3 mission, with a one-year base period and two one-year option periods. Parsons will develop software to provide warfighters with capabilities for tactical decision-making, planning, rehearsal, and execution management, aiming to create a simple, intuitive, and integrated common operating picture for the Army.
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Parsons Completes Holistic PFAS Investigation, Sampling and Remediation Project for Fortune 100 Industrial Leader

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Parsons Corporation (NYSE: PSN) completes a comprehensive assessment, investigation, and treatment of per- and polyfluoroalkyl substances (PFAS) for a major Fortune 100 industrial client. The 6-month project involved studying the manufacturing facility, testing water and sediments, and developing a mobile treatment system to keep the facility operational while addressing the contamination. The project generated nearly 500 dry tons of sediment and treated approximately 4,000,000 gallons of water. Parsons' Water Treatability Lab played a crucial role in identifying PFAS and developing the mitigation plan, showcasing the company's expertise in water and wastewater treatment.
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Parsons Wins Contract for Department of Labor Facilities Management

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Parsons Corporation (NYSE: PSN) has been awarded a contract worth over $115 million by the United States Department of Labor (DOL) Job Corps Acquisition Services. The contract includes a base performance period of one year and four one-year option periods. Parsons will provide project management and oversight support for the Job Corps’ Facilities Program, continuing a contract that the company has held since 2013. The Job Corps is the largest residential career training program in the United States, helping eligible young people complete their high school education, train for meaningful careers, and obtain employment.
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FAQ

What is the current stock price of Parsons Corporation (PSN)?

The current stock price of Parsons Corporation (PSN) is $97.4 as of November 15, 2024.

What is the market cap of Parsons Corporation (PSN)?

The market cap of Parsons Corporation (PSN) is approximately 10.3B.

What is Parsons Corporation known for?

Parsons Corporation is known for providing engineering, construction, technical, and management services in defense, intelligence, and critical infrastructure sectors.

How many employees does Parsons have?

Parsons has over 15,000 employees working on nearly 5,000 projects across 29 countries.

What are the main business segments of Parsons?

Parsons operates through two primary segments: Federal Solutions and Critical Infrastructure.

Can you name a recent significant project by Parsons?

Recently, Parsons was awarded a $28 million contract for developing intelligence, surveillance, and reconnaissance software for the U.S. Air Force Research Laboratory.

What is the ZEUS® directed energy system?

The ZEUS® directed energy system is a laser technology developed by Parsons used for neutralizing unexploded ordnance and improving operational safety in conflict zones.

What is Parsons' role in the Los Angeles World Airports' Capital Improvement Program?

Parsons is one of 15 lead consultants selected for the LAWA Capital Improvement Program, a nearly $1 billion initiative over five years.

How does Parsons contribute to the sustainability of the Texas electrical grid?

Parsons collaborates with Enphase Energy and GVEC on the Peak-Time Payback program, which uses battery storage to enhance the resilience and sustainability of the Texas electrical grid.

What sectors does Parsons provide services for?

Parsons provides services for defense, intelligence, critical infrastructure, transportation, urban development, environmental remediation, cyber and intelligence, and space and missile defense.

Where can I find more information about Parsons' services and projects?

You can visit Parsons' official website at parsons.com and follow their updates on LinkedIn and Facebook for more information.

Is Parsons a publicly traded company?

Yes, Parsons Corporation is publicly traded on the New York Stock Exchange under the symbol PSN.

Stock PSN logo
Parsons Corporation

NYSE:PSN

PSN Rankings

#834 Ranked by Market Cap
N/A Ranked by Dividends

PSN Stock Data

10.33B
106.19M
0.88%
102.71%
2.93%
Information Technology Services
Services-computer Integrated Systems Design
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United States of America
CENTREVILLE