Core Insights - Investors showed strong interest in Parsons due to a significant deal in the Middle East, resulting in a stock price increase of over 2%, outperforming the S&P 500's 0.1% rise [1] New Work in the Middle East - Following President Trump's visit, Parsons secured 30 projects in Qatar, collectively valued at up to $97 billion [2] Contracts in Saudi Arabia - Parsons was awarded two contracts by Saudi Arabia's King Salman International Airport Development Company for the expansion of King Salman International Airport, including infrastructure development and landside assets [4] - The airport in Riyadh is projected to have six runways and accommodate up to 120 million passengers by 2030, with expectations to rise to 185 million by 2050 [5] Investor Sentiment - Despite the positive news, investor reaction was somewhat muted due to concerns over the Trump administration's tendency to exaggerate deal values and the lack of financial details regarding the Saudi contracts [6]

CHANTILLY, Va., May 13, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today, on the sidelines of the Saudi-US Investment Forum in Riyadh, that the company has been awarded two Delivery Partner (DP) contracts by the King Salman International Airport Development Company (KSIADC) which is owned by the Public Investment Fund. These significant contracts represent new work for the company and span the initial four years of the airport's multi-year development. The first contract is for airf ...