Parsons Wins $85M Contract to Build U.S. Space Command HQ
PSN is trading near its 52-week low of $36.26 (15% above the low).
Summary
Parsons secured an $85 million OTA agreement to serve as Owner's Advisor for the new U.S. Space Command headquarters at Redstone Arsenal. The contract was awarded by Army Contracting Command-Rock Island in coordination with Air Force Civil Engineering Center. The 75-month contract covers program and construction management for a 950,000-square-foot campus supporting up to 1,800 personnel. Parsons will support the progressive design-build development of the headquarters, providing support during planning, design, construction, and operationalization, and overseeing project execution on behalf of the government. Parsons will help manage scope, cost, schedule, quality, and risk for the site. The complex will include a command-and-control facility, fusion center, visitor control center, and supporting infrastructure, designed to enable 24/7 operations. This is new work that expands Parsons' defense infrastructure portfolio and leverages synergies between its Federal Solutions and Critical Infrastructure segments. The award follows a series of recent defense contract wins, including a $514 million missile defense option and a $750 million cybersecurity OTA, reinforcing the company's position in high-priority national security programs. While the initial $85 million is modest relative to Parsons' multi-billion dollar revenue base, the strategic significance and potential for follow-on work make it a notable addition to backlog.
Updated with a Dow Jones Newswires report · What changed
Updates
· Dow Jones Newswires — The contract was awarded by Army Contracting Command-Rock Island in coordination with Air Force Civil Engineering Center.
- Project Scope — Parsons will support progressive design-build development and provide support during planning, design, construction, and operationalization, overseeing project execution and managing scope, cost, schedule, quality, and risk.
- Facility Features — The complex will include a command-and-control facility, fusion center, visitor control center, and supporting infrastructure, designed to enable 24/7 operations.
All 6 details
- Parsons will support the progressive design-build development of the headquarters.
- Parsons will provide support during planning, design, construction, and operationalization.
- Parsons will oversee project execution on behalf of the government.
- Parsons will help manage scope, cost, schedule, quality, and risk for the site.
- The complex will include a command-and-control facility, fusion center, visitor control center, and supporting infrastructure.
- The complex is designed to enable 24/7 operations.
At the time of this announcement, PSN was trading at $41.60 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $36.26 to $89.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.