Parsons Just Landed Another Pentagon Deal – And PSN Stock Is Moving Higher

• The contract's $136 million ceiling value consists of an eight-and-a-half-year performance period, the company said.
• Parsons stated that the contract was awarded by the United States Air Force (USAF) and its 75th Civil Engineer Group at Hill Air Force Base.
• The scope of the work covers airfields, buildings, utilities, roads, and cybersecurity-related design services at Hill Air Force Base, the company said.

Shares of Parsons Corp (PSN) rose more than 1.5% premarket on Tuesday after the company announced it won a multiple-award task order contract from the United States Air Force (USAF) and its 75th Civil Engineer Group at Hill Air Force Base.

PSN Bags Second Award In A Month From Pentagon

This is the second contract the company won from the Pentagon in May. Earlier, the company also won a position on a multiple-award task order contract by the U.S. Army Corps of Engineers.

As per the new contract, the company stated that it received an award to provide architect-engineer services across the installation, with a $136 million ceiling value over an eight-and-a-half-year performance period.

Parsons noted that the contract represents new work for the company, and it will compete for individual task orders to deliver architect-engineer services supporting infrastructure needs across the installation.

As per the contract, Parsons will handle the design, alteration, and repair of airfields, grounds, roads, buildings, structures, and utilities at Hill AFB. The scope also includes feasibility and traffic studies, and critically, cybersecurity-related design services that support secure, resilient installation operations. 

“This award reflects the Air Force’s continued trust in Parsons’ ability to support complex, mission-critical infrastructure programs through disciplined design and engineering services,” said Martin Boson, president, Engineered Systems for Parsons. 

PSN’s $2 Billion Worth Contract To Deliver Energy Resilience And Infra Modernization Projects

The company was awarded a position on a multiple-award task order contract (MATOC) worth $2 billion to deliver energy resilience and infrastructure modernization projects at military installations across the U.S.

Parsons said the contract supports the Department of War (DoW) Energy Resilience and Conservation Investment Program (ERCIP) and has a three-year base performance period, as well as seven one-year option periods.

PSN Stock: What Retail Thinks About It?

On Stocktwits, retail sentiment surrounding the stock has deteriorated to a ‘bearish’ zone, while message volume has also reduced to ‘normal’ in the past 24 hours.

Shares of Parsons have declined more than 21% so far this year.

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