Core Insights - Parsons Corporation has been awarded nearly $46 million to manage Operations Technology Maintenance Services for a strategic transportation customer on the East Coast [1] - The project aims to enhance service delivery through advanced technologies, including digital twins and AI, to improve scheduling and service reliability [2] Company Overview - Parsons is recognized as a leading disruptive technology provider in national security and global infrastructure markets, with expertise in various sectors including transportation, environmental remediation, and critical infrastructure protection [5] - The company has extensive experience in infrastructure development, having worked on over 10,000 miles of roadways, 4,500 bridges, and more than 50 advanced traffic management system deployments [3]

Parsons (PSN) stock has gained more than 2 times the S&P 500's return since its initial public offering (IPO) in 2019. Artificial intelligence (AI) stocks have been in huge demand from investors since last year. The primary catalyst for the AI stock frenzy was OpenAI's release of its ChatGPT chatbot in late 2022, which showcased the amazing capabilities of generative AI. This big boost in demand for AI stocks has significantly driven up the prices and valuations of many of them. The high valuations of some ...

Core Insights - Parsons Corporation has been appointed as the lead designer for the Honolulu Authority for Rapid Transportation's City Center Guideway and Stations Project, valued at $1.66 billion, in partnership with Tutor Perini Corporation [1][2] Group 1: Project Overview - The project involves the design and construction of six rail stations and approximately three miles of elevated rail guideway, starting from the Middle Street Transit Center Station to the Civic Center Station in downtown Honolulu [2] - Design work is set to commence in 2024, with construction expected to begin in the second half of 2025 and substantial completion anticipated by 2030 [2] Group 2: Company Positioning - Parsons Corporation is recognized as a leader in rail and transit design, emphasizing innovative approaches and a commitment to excellence in delivering solutions that meet client and community needs [2] - The company aims to create sustainable and efficient transportation systems that enhance connectivity and improve quality of life [2] Group 3: Company Background - Parsons Corporation operates in various sectors, including national security, global infrastructure, cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection [4]

Group 1 - Parsons (PSN) is a notable stock in the Business Services group, which consists of 316 companies and ranks 5 in the Zacks Sector Rank [2] - Parsons has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, with the consensus estimate for its full-year earnings increasing by 6.8% in the past quarter [3] - Year-to-date, Parsons has returned 48%, significantly outperforming the average return of 6.1% for Business Services companies [4] Group 2 - The Technology Services industry, which includes Parsons, has 171 stocks and currently ranks 87 in the Zacks Industry Rank, with an average gain of 16% this year [5] - Another outperforming stock in the Business Services sector is Spotify (SPOT), which has returned 81.1% year-to-date and has a Zacks Rank of 1 (Strong Buy) [4][5] - Investors interested in Business Services stocks should monitor Parsons and Spotify for continued strong performance [6]

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Have you been paying attention to shares of Parsons (PSN) ? Shares have been on the move with the stock up 15.4% over the past month. The stock hit a new 52-week high of $92.37 in the previous session. Parsons has gained 46.2% since the start of the year compared to the 6.7% move for the Zacks Business Services sector and the 13.2% return for the Zacks Technology Services industry. What's Driving the Outperformance? The stock has an impressive record of positive earnings surprises, as it hasn't missed our e ...

Parsons (PSN) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this software and infrastructure services provider reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correl ...

COLUMBIA, Md., Aug. 7, 2024 /PRNewswire/ -- Sealing Technologies (SealingTech), a Parsons Corporation company (NYSE: PSN), and leading provider of edge computing and defensive cybersecurity solutions, is proud to announce it has been awarded a $9,588,231 fixed-price contract for the U.S. Army's Deployable Defensive Cyber Operations System – Modular version 2 (DDS-Mv2). The DDS-Mv2 program is a customized deployable compute-and-data-storage system that supports Cyber Protection Teams' suite of Defensive Cybe ...

Core Viewpoint - Parsons has demonstrated strong performance in the defense sector, significantly outperforming the S&P 500 over the past five years and continuing this trend with impressive quarterly results [1][2]. Financial Performance - In the second quarter, Parsons reported earnings of $0.84 per share on revenue of $1.7 billion, exceeding Wall Street's expectations of $0.69 per share and $1.5 billion in sales. Revenue increased by 23% year over year, with free cash flow reaching $152 million, surpassing forecasts [3][4]. - The company raised its full-year revenue guidance to a range of $6.35 billion to $6.55 billion, up from the previous estimate of $6.1 billion to $6.4 billion [4]. Business Growth and Strategy - Parsons achieved over 20% organic growth for the fifth consecutive quarter, with double-digit growth across all business units and geographies, indicating a robust operational performance [4]. - The company is strategically positioned in high-priority areas such as cyber operations and electronic warfare, aligning with the Pentagon's focus, which is expected to drive future growth [5]. - Parsons announced a $200 million acquisition of BlackSignal, a cyber specialist, which is anticipated to enhance its capabilities and support future business opportunities [6]. Market Position - Despite a book-to-bill ratio of 0.76, indicating a lower level of new business intake, Parsons is well-positioned to capitalize on upcoming government contracts that are beginning to ramp up, suggesting a pathway for predictable growth [5][6].

This presentation 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 t ...