CHANTILLY, Va., Feb. 09, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced the company secured a $91 million contract extension for the Overseas Security Installation Services (OSIS II) contract administered by the U.S. Department of State. This is the seventh option year award of a 10-year contract, and part of the broader nearly $1.12 billion OSIS II contract. The extension underscores Parsons’ consistent performance and long-standing reputation as a reliable partner in delivering compreh ...

Core Insights - Parsons Corporation has deployed its counter-unmanned aircraft system, DroneArmor™, to enhance security along the U.S. southern border for a Federal national security customer [1][2] - DroneArmor™ is a Technology Readiness Level 9 (TRL-9) capability that provides real-time situational awareness and precise mitigation against unauthorized drone activity [2] - The system integrates advanced technologies including AI and machine learning to autonomously track and mitigate threats, thereby improving decision-making and situational awareness [3][4] Company Overview - Parsons Corporation is recognized as a leading disruptive technology provider in national security and global infrastructure markets, with expertise in various sectors including cyber warfare, space defense, and critical infrastructure protection [6] - The company emphasizes rapid innovation and adaptability in its C-UAS solutions, utilizing a modular and scalable command and control platform [4] - The development of DroneArmor™ takes place at Parsons' C-UAS Center of Excellence in West Virginia, which focuses on rapid prototyping and interoperability testing [4]

Core Insights - Parsons Corporation has been awarded a six-year, $60 million contract by the Foothill Gold Line Construction Authority to design phase 2B2 of the Foothill Gold Line project, which includes a 2.3-mile extension from Pomona to Claremont [1][2] Group 1: Project Details - The Foothill Gold Line project is part of the longest linear light rail line in the world, enhancing the Metro A Line light rail system [1] - The new segment aims to improve commuter and visitor access between downtown Los Angeles and eastern Los Angeles County, addressing previous limitations for commuters [2] Group 2: Company Experience and Impact - Parsons has led design teams for each phase of the Foothill Gold Line project for the past 25 years, showcasing its long-standing commitment to the project [2] - The company has extensive experience in infrastructure design, including over 10,000 miles of roadways, 4,500 bridges, and more than 450 rail and transit projects [3] Group 3: Environmental and Community Benefits - The project is expected to provide innovative and sustainable solutions that reduce traffic congestion, improve air quality, and enhance commuter safety and reliability [2] - Parsons has been involved in improving connections between California communities since its founding in 1944, contributing to the overall quality of life [3]

Core Insights - New Murabba Development Co. (NMDC) is testing the market for modular and offsite fit-out solutions for its Mukaab development through a request for information (RFI) [2][3] - The RFI was issued on January 26, with a submission deadline set for February 11 [3] - NMDC plans to meet with potential firms in the first week of February to discuss solutions in detail [4] Company Developments - NMDC is seeking experienced suppliers and contractors to provide advice on the feasibility, constraints, and execution strategy for non-load-bearing modular systems for the four corner towers of the Mukaab structure [4] - Feedback from the RFI will be used to inform future design and procurement decisions [5] - NMDC was launched in February 2023 by Crown Prince and Prime Minister Mohammed bin Salman to develop the world's largest modern downtown in Riyadh [6] Project Management - The company has appointed US-based Parsons as the infrastructure lead design consultant for the first phase of its development [7] - The agreement with Parsons aims to establish the technical foundations for activating the first phase and supporting future phases of Riyadh's new downtown [8]

Core Insights - Parsons Corporation has been awarded a $593 million contract extension under the FAA's Technical Support Services Contract 5 (TSSC 5), which has a total ceiling value of $1.8 billion and extends performance through 2030 [1][2] Group 1: Contract Details - The contract extension exercises the first option period of TSSC 5, which supports the FAA's Aviation System Capital Investment Plan (CIP) [1][2] - TSSC 5 includes a four-year base period and two additional three-year option periods, allowing for significant infrastructure and systems upgrades across the National Airspace System (NAS) [1][2] Group 2: Parsons' Role and Expertise - Parsons has over five decades of experience supporting the FAA in modernizing the U.S. National Airspace System, providing a range of services including program management, engineering, and construction management [3][4] - The company is recognized as the number one program management firm by Engineering News-Record in 2025, emphasizing its capability in delivering large-scale programs through an agile and innovative approach [4] Group 3: Impact on Aviation Infrastructure - Under TSSC 5, Parsons manages upgrades to critical navigation, communications, power, radar, and surveillance systems, enhancing the FAA's ability to meet modernization schedules and reduce program risks [2][3] - The company operates across more than 600 FAA and stakeholder sites, showcasing its extensive reach and operational capacity in the aviation sector [3]

Core Thesis - Parsons Corporation is transitioning from a traditional engineering and infrastructure company to a defense and technology-focused business, targeting higher-margin segments with long-term growth potential [2] Financial Performance - Despite a 10% decline in Q3 2025 revenue, Parsons Corporation maintained gross profits and achieved significant margin expansion, with operating margins increasing from 1.7% to 7.7% and EBITDA margins growing to 8.2% [3] - The company's intrinsic value estimates suggest a total enterprise value of $9.2 billion, or $73.6 per share after net debt, with potential upside to $87 per share by 2026 as EBITDA expands through defense and software integration initiatives [4] Market Position and Strategy - Parsons Corporation has a strong project backlog, with a book-to-bill ratio above 1.0 for 20 consecutive quarters and a 1.4x backlog-to-revenue ratio, providing visibility into future revenue, especially as Middle East giga projects peak in 2027–2028 [4] - The company's competitive advantage lies in its specialized workforce with security clearances, long-term government relationships, and proprietary software solutions like iNET and iTwin, which create significant switching costs and recurring revenue through subscription models [3] Recent Developments - The stock price of Parsons Corporation has appreciated by approximately 8% since the previous bullish thesis coverage, reflecting the successful execution of its strategic pivot to defense and technology [5]

Core Insights - Parsons Corporation has acquired Altamira Technologies Corporation for a transaction valued up to $375 million, enhancing its defense and intelligence portfolio [1][4] - The acquisition is aimed at accelerating Parsons' national security growth strategy and expanding its capabilities in intelligence-driven solutions [2][3] Company Overview - Parsons is a leading provider of disruptive technology in national security and global infrastructure markets, with expertise in cyber warfare, space defense, and critical infrastructure protection [5] - Altamira, founded in 1999 and based in McLean, Virginia, specializes in advanced analytics, signals intelligence, cyber operations, and missile warning [2][3] Financial Details - The acquisition involved an initial cash payment of $330 million, with an additional $45 million contingent on meeting certain EBITDA targets in 2026 [4] - The base purchase price reflects a 12.8x multiple on anticipated 2026 EBITDA, with Altamira expected to generate over $200 million in revenue for the same year [4] Strategic Alignment - The acquisition aligns with Parsons' strategy of pursuing accretive acquisitions that enhance revenue growth and adjusted EBITDA margins of at least 10 percent [3][4] - Altamira's capabilities in missile warning, AI/ML analytics, and SIGINT operations complement Parsons' existing strengths and support the Department of War's acquisition transformation strategy [2][3]

Core Viewpoint - Parsons Corporation is set to release its fourth quarter and fiscal year 2025 financial results on February 11, 2026, along with guidance for 2026 [1] Group 1: Financial Results Announcement - The financial results will be announced before the markets open on February 11, 2026 [1] - A conference call will be held at 8:00 a.m. Eastern Time to discuss the earnings results and guidance [1] Group 2: Participation Details - Access to the live conference call can be obtained through the Investor Relations section of the company's website [2] - A replay of the conference call will be available on the company's website approximately two hours after the call and will continue for one year [2] Group 3: Company Overview - Parsons Corporation is a leading provider of disruptive technology in national security and global infrastructure markets [3] - The company has capabilities in various sectors including cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection [3]

Core Insights - Parsons Corporation has been awarded a 60-month contract by the New Murabba Development Company, owned by the Public Investment Fund (PIF), to provide design and construction technical support [1][2] Company Overview - Parsons will serve as the Infrastructure Lead Design Consultant (ILDC) for the New Murabba project, which encompasses design and engineering services for infrastructure, public buildings, and landscape [2][3] - The New Murabba development will cover approximately 14 million square meters, featuring a mixed-use environment that includes living, working, and entertainment spaces [2][4] Project Details - The centerpiece of the New Murabba project will be the Mukaab, an iconic cube-shaped skyscraper, which is set to be the largest built structure of its kind [2] - The project aims to redefine sustainable urban development at a giga scale, aligning with Saudi Vision 2030's "Quality of Life Program" [3][5] - New Murabba is designed to create a balanced live-work-play community, allowing residents to walk to various amenities within 15 minutes [3][4] Strategic Importance - The CEO of New Murabba emphasized that the agreement with Parsons is a significant step towards establishing the area as a world-class cultural and tourism destination [4][5] - Parsons has been a trusted partner in Saudi Arabia's urban development for over 65 years, currently managing more than 50 active projects, including several mega and giga projects [6] Industry Context - The collaboration with Parsons is part of a broader strategy to diversify Saudi Arabia's economy and position the country as a global leader in urban development, in line with the national Vision 2030 [5][6]

Core Insights - The article discusses the investment opportunities presented by corporate events such as earnings reports, mergers and acquisitions, and IPOs, emphasizing the importance of these events for investors [1][2]. Group 1: Company Analysis - Parsons (PSN) is highlighted as a company that has successfully navigated challenges related to DOGE, indicating resilience and potential for growth [1]. - The company has experienced significant momentum in its stock performance, particularly noted in 2024, suggesting a positive outlook for investors [1]. Group 2: Investment Strategy - The investment group "Value in Corporate Events" focuses on identifying actionable ideas from major corporate events, providing members with insights to capitalize on these opportunities [2]. - The group covers approximately 10 major events each month, aiming to find the best investment opportunities in the market [2].