Parsons Secures $184 Million Navy Intelligence Carry-On Program Contract
PSN sits 18% above its 52-week low of $48.23.
Summary
Parsons Corp secured a $184 million indefinite-delivery/indefinite-quantity (IDIQ) contract from the Department of the Navy for its Intelligence Carry-On Program. This award adds to Parsons' robust pipeline of government contracts, following several other significant wins in recent months, including a $218 million AFRL GARDEM mission contract announced last week. The contract supports rapid delivery of innovative capabilities to enhance battlespace awareness for the Navy. This win reinforces the company's position in defense and intelligence solutions and contributes positively to its backlog and future revenue.
At the time of this announcement, PSN was trading at $56.70 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $48.23 to $89.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.