  Key Takeaways:  Parsons secured a $514 million, two-year contract option of its existing Technical, Engineering, Advisory, and Management Support (TEAMS) – Next Missile Defense System Engineering contract from the

Parsons Secures $514 Million Missile Defense Agency Contract Option

Parsons Wins $514M MDA Contract Option, Boosting Backlog and Visibility

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Key Takeaways:  Parsons secured a $514 million, two-year contract option of its existing Technical, Engineering, Advisory, and Management Support (TEAMS) – Next Missile Defense System Engineering contract from the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Parsons Corp secured a $514 million option to extend its TEAMS-Next Missile Defense System Engineering work with the Missile Defense Agency, for a further two years. The award strengthens backlog and revenue visibility while underscoring Parsons&#039; role in advancing integrated defense capabilities. If performance remains strong, additional options or follow-on awards could further lift PSN&#039;s defense-focused revenue trajectory.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Parsons awarded $514M TEAMS-Next MDS contract option by MDA. Two-year extension expands backlog.</li><li>Parsons will continue engineering, analysis, and oversight for the MDS. Backlog visibility improves.</li><li>MDA award reinforces Parsons&#039; defense systems integration leadership. Supports ongoing revenue through government programs.</li><li>Positive near-term catalyst for PSN; follow-on awards possible.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Parsons Corporation (PSN)</strong>: Contract extension directly boosts PSN backlog and revenue visibility; near-term upside tied to execution and potential additional options.</li><li><strong>Missile Defense Agency (MDA)</strong>: Awarding agency; funding and program continuity underpin PSN’s defense-system growth; not a public-traded entity.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category: Corporate Developments. The story centers on a government contract option and its implications for PSN&#039;s backlog and revenue visibility, a key driver of near-term valuation for a defense contractor.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Backlog increases via a $514M option improve near-term revenue visibility.</li><li>Two-year extension with MDA signals continued defense program funding.</li><li>Parsons&#039; leadership in defense systems integration supports stock sentiment.</li><li>Defense budget cycles could drive additional awards and upside.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Value of contract option: $514 million.</li><li>Contract type: TEAMS - Next Missile Defense System Engineering.</li><li>Extension duration: Two years.</li><li>Award date: August 24, 2026.</li><li>Original TEAMS contract awarded: 2021.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over the next 1–3 quarters on improved backlog and defense exposure.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p></p>  <p>Key Takeaways:</p>  <ul type="disc"><li>Parsons secured a $514 million, two-year contract option of its existing Technical, Engineering, Advisory, and Management Support (TEAMS) – Next Missile Defense System Engineering contract from the Missile Defense Agency.</li><li>The company will continue providing engineering, technical, analytical, and oversight support for the nation’s integrated Missile Defense System.</li><li>Parsons is continuing to support the Missile Defense Agency in helping ensure the effectiveness and readiness of U.S. missile defense capabilities against rapidly evolving threats.<br></br></li></ul>  <p>CHANTILLY, Va., Aug.  24, 2026  (GLOBE NEWSWIRE) -- Parsons Corporation announced today it has been awarded a $514 million contract option by the Missile Defense Agency (MDA) to continue providing engineering and technical support to the agency. This is option two of the company’s existing <a href="https://www.globenewswire.com/Tracker?data=SxgShkfGdXTFlsFZLawv8JqwO2kIF6JsmVEyd4By1inX9i93wlEC5FK5mXTkgY1O79QrQo7xZwmHqggIT9JDf7o_O2EM8D1coByl_Jy1WoDOCaMRiV_bAMfGGpZrirsEmtGld-oPLnr5OdTpBMJ2OOOUgaIU6T9tHO8XE7TU9QenyVmnlBenVIz4MXag2z307XTGidh7mFITLKAWYrAS1l4LTJbHgC69lMojDpkrAkDYfkS_fg8V4LMOO2zvsa3gc9l3enzJjS0WkR7bV2iVMA==" rel="nofollow" target="_blank">Technical, Engineering, Advisory, and Management Support (TEAMS) - Next Missile Defense System Engineering</a> contract, which was originally awarded in 2021.</p>  <p>"As missile threats grow more advanced, the need for integrated, battle-ready air and missile defense capabilities has never been greater," said Mike Kushin, president, Defense &amp; Intelligence for Parsons. "Parsons is delivering the technologies, systems integration, and operational solutions that help ensure the nation maintains a decisive advantage against evolving adversary capabilities. We are proud to support the Missile Defense Agency in strengthening the nation’s missile defense system through resilient command and control, advanced systems engineering, and mission-critical solutions that enable warfighters to detect, track, and defeat threats before they reach our homeland."</p>  <p>This option further continues Parsons’ partnership with MDA, underscoring the company’s position as a trusted provider of <a href="https://www.globenewswire.com/Tracker?data=wjEGcogNBm68hzG5BIKyn_enQ3_-HxbYgmgKJ0lAal7Lk1UvgNRnRI2B3ltRHvpFVf4yVVMzVbPuLoFswAVcKxRw2XWad3BMW_aK80abGx1VFIh30h4A266ygg5lK61nEF-hleNF7g6WJ3c3ClEwLNSAeBqbT93r5KiiqNLCC6apkmAxk2FmraBAqMbr4QB2" rel="nofollow" target="_blank">advanced systems engineering, integration, and technical expertise</a>. <br></br>Under the contract, Parsons delivers advanced engineering and technical support for studies, analysis, evaluation, and oversight for the integrated Missile Defense System (MDS).</p>  <p>Parsons provides support to the MDA’s missile defense programs to protect citizens and critical infrastructure from existing and emerging threats, including ballistic missiles and hypersonic weapons. From its Air Base Air Defense (ABAD) work overseas to protect critical national security infrastructure to formidable non-kinetic missile defeat capabilities leveraging its advanced electromagnetic warfare (EW) expertise, the company continues to deliver integrated, mission-critical solutions across air, land, sea, space, and cyber domains.</p>  <p>To learn more about Parsons’ missile defense solutions, visit <a href="https://www.globenewswire.com/Tracker?data=pqb43truOaGoYUG6rf4hV77WFYZLHBRxtq7B4-DUumxld8ZXQ_KfHRg_kuJ-AIXw3Bq7ahUiSKgAf7F_Zc_qxS5lRyIwp8VMwS3zJnaRZbWxktXsRt8gQfUFEB66rok0xdT-0ltMlyWetlYMo3ZCZA==" rel="nofollow" target="_blank">Parsons.com/missile-defense-C5ISR/</a>.</p>  <p><strong>About Parsons:</strong><br></br><em>Parsons (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PSN">PSN</a>) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit </em><a href="https://www.globenewswire.com/Tracker?data=pqb43truOaGoYUG6rf4hV4w496s6UuB9fZ7GJDmFn7sOLZaV0-B2Amv4EREEApxJm-UH2KwfsmJwenlJeCWPlw==" rel="nofollow" target="_blank"><em>Parsons.com</em></a><em> and follow us on </em><a href="https://www.globenewswire.com/Tracker?data=HpxG8P17sLUSwTO5KDtInaaLn4c0chDQa9oJxwDGsq-UR38fiDc3mVBfDp2JJ5gt6o2tzCz7PC2n2UvibX_Wjp1OT53_ea18t0drrrW6xzs=" rel="nofollow" target="_blank"><em>LinkedIn</em></a><em> to learn how we’re making an impact.</em></p>  <p>Media Contact:                                        <br></br>Angie Benfield        <br></br>+1 803.334.5277<br></br><a href="https://www.globenewswire.com/Tracker?data=AQ_hDRpkdYyAlzfFy67GzcP8Q_CcrDBdIFcERrHudNDqkqme4PwFY_rJblx4khmMXlQyAg5BdqZyHiNRb2dL4y-if883EQq-OdjQ0Kr_GEQGsmvJAAAeq111IUIcIBPV" rel="nofollow" target="_blank">Angie.Benfield@parsons.com</a></p>  <p>Investor Relations Contact:<br></br>Dave Spille<br></br>+ 1 703.775.6191<br></br><a href="https://www.globenewswire.com/Tracker?data=t42niBgAtF2PMNh-4w7cpZRtsezXF4gaSz_R3Hdz9imanVA6MTXUpN_kYRtA3Xf1AiNzr1V3Z3315xNy9OjhqMH4DKzmL3asfA35Unoebf0=" rel="nofollow" target="_blank">Dave.Spille@Parsons.us</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxMzczMiM3Nzg2NjQ3IzIxODYzOTk="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MTU3YmNjNzItNjg4Ni00ZjIzLTlkNDItOTExNDBhMzIyOTNhLTExOTc5NTMtMjAyNi0wOC0yNC1lbg==/tiny/Parsons-Services-Company.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/5c5f7c60-e59a-4432-ac4f-44eb3e8c85dc"><img src="https://ml.globenewswire.com/media/5c5f7c60-e59a-4432-ac4f-44eb3e8c85dc/small/parsons-questmark-logo-color-png.png" border="0" width="150" height="31" alt="Primary Logo"></img></a></p>

Parsons Corp secured a $514 million option to extend its TEAMS-Next Missile Defense System Engineering work with the Missile Defense Agency, for a further two years. The award strengthens backlog and revenue visibility while underscoring Parsons' role in advancing integrated defense capabilities. If performance remains strong, additional options or follow-on awards could further lift PSN's defense-focused revenue trajectory.

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Parsons Secures $514 Million Missile Defense Agency Contract Option

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