StockNews.AI
PSN
StockNews.AI
26 days

Parsons-Versar Joint Venture Awarded $75 Million U.S. Army Corps of Engineers Construction Management Contract

1. Parsons awarded $75 million USACE contract for construction support services. 2. The contract has a three-year base and two-year option period. 3. Parsons-Versar has supported USACE with over 60 task orders in 12 years. 4. The company is a recognized leader in complex construction management. 5. Parsons focuses on national security and global infrastructure solutions.

Mass Contract
-0.26%Current Return
VS
+0.42%S&P 500
$76.0507/24 06:34 AM EDTEvent Start
$75.8507/25 01:11 PM EDTLatest Updated
8m saved
Insight
Article

FAQ

Why Bullish?

The substantial contract award strengthens Parsons' revenue and market position, similar to its past contract successes. Historically, significant contracts have positively impacted PSN's stock value.

How important is it?

This contract is a significant financial opportunity for Parsons, indicating future growth and stability that likely attracts investors. The joint venture further solidifies its standing in the competitive landscape.

Why Long Term?

The long duration of the contract, with options for extension, provides revenue stability and insight into future growth opportunities. Past contracts show consistent expansion in market share over extended periods.

Related Companies

VSARCXFLR
July 24, 2025 06:25 ET  | Source: Parsons Services Company CHANTILLY, Va., July 24, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company’s joint venture (JV) with Versar was awarded a $75 million single award delivery order contract by the United States Army Corps of Engineers (USACE) Middle East District for construction phase support services (CPSS). The contract includes a three-year base period of performance and a two-year option period. Parsons serves as the JV managing partner. Under this contract, Parsons-Versar will continue providing construction management services that advance a sustained USACE presence in the Central Command Area of Responsibility and provide support to both Foreign Military Sales and Military Construction Programs. “Parsons has been a trusted U.S. Army Corps of Engineers partner for decades, delivering innovative infrastructure solutions for the federal government,” said Jon Moretta, President, Engineered Systems for Parsons. “As we have for the past 12 years, we will continue to leverage the JV’s combined experiences and capabilities to advance the Middle East District’s mission to provide construction management to partners across the CENTCOM Area of Responsibility, advancing our nation’s security.” Parsons-Versar has provided CPSS to the USACE Middle East District on more than 60 task orders over the past 12 years. This award is the third CPSS contract iteration. Parsons has extensive experience working in complex and austere environments and is a globally recognized construction management leader. The company ranks among the top three professional services firms by Engineering News-Record and provides clients with support through the entire life cycle of a project, including master planning, design, construction management, and asset management.   To learn more about Parsons’ global infrastructure solutions, visit Parsons.com/federal-infrastructure/. About Parsons: Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact. Forward-Looking Statements:This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws. Media Contact:Jonathan Larry+1 706.832.7330jonathan.larry@parsons.com Investor Relations Contact:Dave Spille+1 703.775.6191Dave.Spille@parsons.us

Related News