Parsons Wins Seat on $225M U.S. Army Corps of Engineers Contract for Environmental Remediation
Parsons (NYSE: PSN) has secured a position on a $225 million multiple award task order contract (MATOC) with the U.S. Army Corps of Engineers (USACE) Kansas City District. This new contract, focused on environmental remediation activities, has a one-year base period with four one-year options. It includes projects funded by the Infrastructure Investment and Jobs Act to support EPA cleanup initiatives.
Under this contract, Parsons will compete for task orders related to hazardous, toxic, and radioactive waste remediation, as well as environmental studies. The work will support USACE Northwestern Division and USEPA Region 2. This award follows Parsons' recent win of a seat on a $464 million MATOC with the U.S. Army Environmental Command for similar remediation services.
- Secured position on a $225 million MATOC with USACE
- Contract includes one-year base period with four one-year options
- Opportunity to compete for task orders in environmental remediation and studies
- Aligns with company's expertise in environmental solutions
- None.
Insights
This contract win is a significant development for Parsons, showcasing their strong position in the environmental remediation sector. The
The contract's focus on hazardous, toxic and radioactive waste remediation aligns well with Parsons' expertise. Their involvement in EPA cleanup projects enhances their reputation in public health and safety initiatives. The inclusion of environmental studies like wetlands delineation and habitat mitigation demonstrates the comprehensive nature of their services.
This award, combined with their recent
The
This contract, along with the previously announced
The focus on Infrastructure Investment and Jobs Act-funded projects suggests alignment with government spending priorities, potentially insulating Parsons from budget fluctuations. Investors should monitor task order wins under this contract to gauge the actual revenue impact over time.
CHANTILLY, Va., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a seat on a
Under this contract, Parsons will compete for task orders to advance work assigned to USACE Northwestern Division and USEPA Region 2 at sites requiring hazardous, toxic, and radioactive waste remediation and investigation and environmental studies such as wetlands delineation, habitat mitigation, and pollution prevention.
“Parsons is a trusted partner to the federal government in providing environmental solutions that deliver a cleaner, safer world,” said Jon Moretta, president, Engineered Systems for Parsons. “We remain committed to leveraging our proven experience, capabilities, and innovative technologies in support of USACE and EPA remediation actions to protect human health and the environment.”
For decades, Parsons has advanced USACE’s mission to deliver vital engineering solutions to secure the nation and energize the economy. In April, the company announced winning a seat on the
To learn more about Parsons’ environmental solutions, visit Parsons.com/environmental.
About Parsons:
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.
Forward-Looking Statements:
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.
Media Contact:
Jonathan Larry
+1 706.832.7330
jonathan.larry@parsons.com
Investor Relations Contact:
Dave Spille
+1 703.775.6191
Dave.Spille@parsons.us
FAQ
What is the value of the USACE contract Parsons (PSN) won a seat on?
What type of work will Parsons (PSN) perform under the new USACE contract?
How long is the duration of the USACE contract Parsons (PSN) secured?
Which regions will Parsons (PSN) support under this new USACE contract?
