Parsons Secures Lucrative $750M Contract with US State Department

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Parsons Corporation ($NYSE:PSN), a leading technology-driven engineering services provider, has secured a lucrative three-year contract with the US State Department worth $750 million. Xator, a subsidiary of Parsons, was awarded the contract to provide security and defense solutions to the State Department. The company is dedicated to being an industry leader in the provision of advanced services that support world-class infrastructure and economic development projects. Parsons’ services include engineering and construction management, operations and maintenance, mission assurance, and technical and professional services.

The $750 million contract awarded to Parsons’ Xator will make a significant contribution to the company’s financial position. The agreement also further strengthens Parsons’ reputation as a leading provider of quality security solutions and services. This contract serves as a testament to the expertise and dedication of the entire Parsons team.

Share Price

The news was met with enthusiasm by investors, sending stocks up by 1.1%. PARSONS CORPORATION opened at $46.1 and closed at $46.4, a promising sign for the future of the company. It is expected that the contract will help to drive long-term growth for the company and be a major benefit to both the company and its shareholders. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Parsons Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Parsons Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Parsons Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Parsons Corporation are shown below. More…

Analysis

At GoodWhale, we analyzed the wellbeing of PARSONS CORPORATION and our risk rating shows a medium risk in terms of financial and business aspects. To further evaluate the risk of investment in PARSONS CORPORATION, our analysis has identified two risk warnings in their balance sheet and cashflow statement. If you’d like to learn more about these warnings, or to see our full analysis of PARSONS CORPORATION, please register on our website at goodwhale.com. We are confident that our comprehensive analysis will help you make the best investment decisions. 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 been awarded a $750 million, three-year contract from the U.S. Department of State. This will provide Parsons with a major boost to their current financials and should provide a significant return for their investors. Additionally, the new contract could provide potential for significant growth in the near future, both with the U.S. Department of State and with other potential clients. Investors should consider this news in their decision-making process when considering investing in Parsons Corporation.