Parsons Corporation Awarded $11M NAVFAC Infrastructure Program Management Contract

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Parsons Corporation ($NYSE:PSN), a well-known engineering and technology company based in Centreville, Virginia, has been awarded an $11 million contract by the Naval Facility Engineering Command (NAVFAC). With this contract, Parsons Corporation will provide program management services to support infrastructure projects valued at $11 million. The contract was announced today, July 20, 2023, from Parsons Corporation’s headquarters in Centreville, Virginia. This contract will allow Parsons Corporation to offer its broad range of program management services to NAVFAC. This includes cost estimating and tracking, scheduling, risk analysis, procurement management, design management, quality control management, and construction management.

The contract is for an initial one-year period with the option to extend the contract for an additional two years. Parsons Corp is known for its outstanding engineering and technology solutions that have been used in multiple industries including defense, intelligence, energy, and infrastructure. This new contract with NAVFAC is an excellent opportunity for Parsons Corporation to extend its expertise to the military infrastructure sector. This will allow the company to offer its top-notch services to one of the United States’ most important federal agencies.

Share Price

Parsons Corporation, a leading engineering, construction, technical, and management services firm, was awarded an $11 million contract by the Naval Facilities Engineering Command (NAVFAC) on Wednesday. The contract entails providing program management services for infrastructure projects located in the United States and overseas. The news of the contract award was positively received, as evidenced by the stock price.

On Thursday, PARSONS CORPORATION stock opened at $47.5 and closed at $47.6, up by 0.5% from previous closing price of 47.4. As such, the stock price is likely to continue to rise in the near future as investors take note of this major contract award. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

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Analysis

At GoodWhale, we have conducted an analysis of PARSONS CORPORATION‘s fundamentals. Our Star Chart reveals that the company has a high health score of 8/10 with regards to its cashflows and debt, which demonstrates that the company is capable of safely riding out any economic turbulence without the risk of bankruptcy. This makes the company a potentially attractive investment opportunity for certain investors. When taking into account the individual aspects of PARSONS CORPORATION’s financial health, we find that the company is strong in asset management, medium in growth and profitability, and weak in dividend payment. This combination of financial factors makes PARSONS CORPORATION an interesting proposition for value investors looking for a high-growth stock, as well as for those hoping to benefit from potential capital appreciation. More…

Peers

The company is a provider of engineering, construction, and technical services for public and private sector clients. Parsons delivers innovative solutions to complex infrastructure and programmatic challenges, and is a recognized leader in the planning, design, and construction of a wide range of facilities and infrastructure. The company’s competitors include Airtificial Intelligence Structures SA, Modern Engineering & Projects Ltd, GMR Power and Urban Infra Ltd.

– Airtificial Intelligence Structures SA ($OTCPK:AITLF)

Artificial Intelligence Structures SA, or AI Structures, is a publicly traded company on the Madrid Stock Exchange. As of 2022, AI Structures has a market capitalization of €69.19 million and a return on equity of -7.34%. The company focuses on the development and commercialization of artificial intelligence technology.

– Modern Engineering & Projects Ltd ($BSE:539762)

Modern Engineering & Projects Ltd is a company that specializes in engineering and construction projects. The company has a market cap of 73.54M as of 2022 and a Return on Equity of -2211.89%. Modern Engineering & Projects Ltd has a strong focus on quality and safety, and has a good reputation in the industry. The company has a wide range of experience in both small and large projects, and has a proven track record of successful completion.

– GMR Power and Urban Infra Ltd ($BSE:543490)

GMR Power and Urban Infra Ltd has a market cap of 15.21B as of 2022, a Return on Equity of -54.42%. The company is engaged in the business of power generation and transmission, and urban infrastructure development.

Summary

Parsons Corporation has recently been awarded an $11M Navy Facility Infrastructure Program Management Contract. The contract will enable the company to provide their expertise in the areas of program planning and development, engineering, construction management, and environmental services. This is a significant win for the company, as it will allow them to expand their presence in the infrastructure market and broaden their exposure to new and existing projects. Investors should be encouraged by this news, as it indicates that the company is continuing to take steps towards long-term success in the infrastructure market.