Parsons Secures $22M Contract Amendment from LA County Transportation Authority
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Parsons announced that Los Angeles County Metropolitan Transportation Authority has awarded a $22M contract amendment for multimodal improvements along the I-605 corridor in Los Angeles, which extends Parsons' existing contract for 3.5-years. These improvements are part of the Metro's Board adopted Multimodal Highway Investment Objectives, which will add bicycle lanes, improve sidewalks, and enhance transit access for the community. It will also provide managed lanes on I-605 and improve connectivity between freeway ramps and local streets to reduce traffic.
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Analyst Views on PSN
Wall Street analysts forecast PSN stock price to rise
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 57.280
Low
70.00
Averages
84.00
High
107.00
Current: 57.280
Low
70.00
Averages
84.00
High
107.00
About PSN
Parsons Corporation is a 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. Its Federal Solutions segment provides advanced technical solutions to the United States government. This segment provides advanced technologies, supporting national security missions in cyber operations, missile defense, and military facility modernization, logistics support, hazardous material remediation and engineering services. Its Critical Infrastructure segment offers integrated engineering and management services for complex physical and digital infrastructure around the globe. This segment is a technology innovator focused on next-generation digital systems and complex structures. It also develops advanced, warfighter-focused solutions for military and security applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Parsons Corporation Secures $22M Contract Amendment for I-605 Improvements
- Contract Extension: The Los Angeles County Metropolitan Transportation Authority awarded Parsons Corporation a $22M contract amendment, extending the existing contract by 3.5 years to support multimodal infrastructure improvements aligned with Metro's investment objectives.
- Project Goals: This initiative, in partnership with Caltrans and the Gateway Cities Corridor Council of Governments, aims to alleviate severe congestion, enhance safety, and reduce commute times, demonstrating a commitment to improving regional transportation.
- Modernization Measures: Parsons will oversee the integration of managed lanes on the I-605 freeway, optimizing connectivity between local streets and freeway ramps, while implementing community-focused upgrades such as new bicycle lanes, improved sidewalks, and enhanced transit access.
- Long-term Partnership: For over 20 years, Parsons has been a trusted partner to Metro and the people of Los Angeles, helping them navigate transportation challenges seamlessly, further solidifying its leadership position in the infrastructure sector.
See More
Parsons Corporation Secures $22 Million Contract Amendment for I-605 Improvements
- Contract Extension: The Los Angeles County Metropolitan Transportation Authority awarded Parsons Corporation a $22 million contract amendment, extending the existing contract by 3.5 years, reflecting trust in its capabilities for multimodal transportation improvements.
- Project Details: The improvements will add bicycle lanes, enhance sidewalks, and improve public transit access, aiming to increase safety and efficiency for the community, aligning with Metro's Multimodal Highway Investment Objectives.
- Traffic Flow Enhancement: The I-605 corridor's congestion issues will be alleviated through the addition of managed lanes and improved connectivity between freeway ramps and local streets, thereby increasing traffic flow and reducing commute times for residents.
- Long-term Partnership: Parsons has partnered with Metro for over 20 years, showcasing its extensive experience in delivering complex multimodal projects, further solidifying its leadership position in the infrastructure sector.
See More
Parsons Demonstrates AI-Enabled Counter-Unmanned Aircraft Systems
- Technology Integration Showcase: Parsons Corporation successfully demonstrated its integrated Counter-Unmanned Aircraft System (CUAS), significantly enhancing detection and response capabilities against rapidly evolving aerial threats by unifying sensors, command control, and AI decision support, thereby strengthening protection for national security and critical infrastructure.
- Full Kill Chain Capability Validation: The demonstration validated how Parsons' DroneArmor™ system utilizes Hurley IR sensors and DroneShield electronic warfare sensors to rapidly execute the complete kill chain from threat detection to mitigation, ensuring faster response and more precise execution in complex environments.
- Multi-Domain Operational Capability: Parsons' CUAS solutions extend beyond single-site protection to support regional, theater, and homeland defense architectures, showcasing its unique expertise in addressing various drone and missile threats, thereby enhancing operational safety and mission assurance for customers.
- Innovative Technology Investment: Through acquisitions like Chesapeake International Technology (CTI), Parsons has bolstered its TAK-X technology, facilitating real-time coordination across agencies, further enhancing its competitiveness and technological integration capabilities in the global market.
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Parsons Secures $73M Air Force Contract
- Significant Contract Value: Parsons has been awarded a $73 million contract to support the Air Force Research Laboratory's Global Application Research, Development, Engineering, and Maintenance (GARDEM) program, further solidifying its market position in digital and data-driven capabilities.
- Annual Total Surpasses: This contract marks Parsons' fourth GARDEM contract win in 2026, bringing its total awards under the program to $218 million, indicating the company's sustained growth potential in the defense sector.
- Scope of Technical Support: Under the latest contract, Parsons will provide research and development, operations, and maintenance support for the GARDEM 2 enterprise platform and mission application software baselines, ensuring effective operations at existing installations and field sites.
- Capability Migration Strategy: Parsons will also oversee the migration of capabilities to its Lightweight Application Management Platform (LAMP), a scalable environment designed to accelerate mission deployment and lower lifecycle costs, enhancing the company's competitiveness in defense technology.
See More
Parsons Secures $73 Million Air Force Contract for GARDEM
- Contract Value Increase: Parsons Corp has secured a $73 million contract supporting the U.S. Air Force Research Laboratory's GARDEM mission, bringing its total GARDEM awards for 2026 to $218 million, indicating sustained growth potential in the defense sector.
- Expanded Responsibilities: This contract expands the company's responsibilities for research, development, and operations maintenance across the GARDEM 2 enterprise platform and mission application software baselines, enhancing its market position in defense infrastructure solutions.
- Leadership in Technology Migration: Parsons will lead the migration of capabilities to its Lightweight Application Management Platform, a scalable environment designed to accelerate mission deployment and reduce lifecycle costs, reflecting the company's strategic focus on technological innovation and cost control.
- Emphasis on Technology Reuse: The company's technical approach emphasizes technology reuse and integration, enabling rapid capability updates while lowering ownership costs for the government, further solidifying its competitive advantage in the defense contracting market.
See More
Parsons Secures $73 Million Contract for AFRL's GARDEM Mission
- Contract Value Increase: Parsons Corporation has secured a $73 million contract, supporting the Air Force Research Laboratory's Global Application Research, Development, Engineering, and Maintenance (GARDEM) mission, bringing its total awards for 2026 to $218 million, thereby reinforcing its market position in the defense sector.
- Platform Expansion: This contract expands Parsons' responsibilities for research and development and operations and maintenance across the GARDEM 2 enterprise platform and mission application software baselines, indicating the company's ongoing investment in digital and data-driven capabilities aimed at enhancing the Air Force's operational efficiency.
- Cost Efficiency Improvement: By migrating capabilities to the Lightweight Application Management Platform (LAMP), Parsons aims to accelerate global mission deployment while reducing lifecycle costs, enabling the Air Force to deploy advanced capabilities more rapidly in complex environments.
- Strategic Integration Advantage: Parsons' technical approach emphasizes technology reuse and deep integration, allowing for rapid capability updates while lowering total ownership costs for the government, ensuring mission systems can evolve at the operational speed of need, thus enhancing overall operational effectiveness.
See More
Parsons Corporation Secures $22M Contract Amendment for I-605 Improvements
- Contract Extension: The Los Angeles County Metropolitan Transportation Authority awarded Parsons Corporation a $22M contract amendment, extending the existing contract by 3.5 years to support multimodal infrastructure improvements aligned with Metro's investment objectives.
- Project Goals: This initiative, in partnership with Caltrans and the Gateway Cities Corridor Council of Governments, aims to alleviate severe congestion, enhance safety, and reduce commute times, demonstrating a commitment to improving regional transportation.
- Modernization Measures: Parsons will oversee the integration of managed lanes on the I-605 freeway, optimizing connectivity between local streets and freeway ramps, while implementing community-focused upgrades such as new bicycle lanes, improved sidewalks, and enhanced transit access.
- Long-term Partnership: For over 20 years, Parsons has been a trusted partner to Metro and the people of Los Angeles, helping them navigate transportation challenges seamlessly, further solidifying its leadership position in the infrastructure sector.
See More
Parsons Corporation Secures $22 Million Contract Amendment for I-605 Improvements
- Contract Extension: The Los Angeles County Metropolitan Transportation Authority awarded Parsons Corporation a $22 million contract amendment, extending the existing contract by 3.5 years, reflecting trust in its capabilities for multimodal transportation improvements.
- Project Details: The improvements will add bicycle lanes, enhance sidewalks, and improve public transit access, aiming to increase safety and efficiency for the community, aligning with Metro's Multimodal Highway Investment Objectives.
- Traffic Flow Enhancement: The I-605 corridor's congestion issues will be alleviated through the addition of managed lanes and improved connectivity between freeway ramps and local streets, thereby increasing traffic flow and reducing commute times for residents.
- Long-term Partnership: Parsons has partnered with Metro for over 20 years, showcasing its extensive experience in delivering complex multimodal projects, further solidifying its leadership position in the infrastructure sector.
See More
Parsons Demonstrates AI-Enabled Counter-Unmanned Aircraft Systems
- Technology Integration Showcase: Parsons Corporation successfully demonstrated its integrated Counter-Unmanned Aircraft System (CUAS), significantly enhancing detection and response capabilities against rapidly evolving aerial threats by unifying sensors, command control, and AI decision support, thereby strengthening protection for national security and critical infrastructure.
- Full Kill Chain Capability Validation: The demonstration validated how Parsons' DroneArmor™ system utilizes Hurley IR sensors and DroneShield electronic warfare sensors to rapidly execute the complete kill chain from threat detection to mitigation, ensuring faster response and more precise execution in complex environments.
- Multi-Domain Operational Capability: Parsons' CUAS solutions extend beyond single-site protection to support regional, theater, and homeland defense architectures, showcasing its unique expertise in addressing various drone and missile threats, thereby enhancing operational safety and mission assurance for customers.
- Innovative Technology Investment: Through acquisitions like Chesapeake International Technology (CTI), Parsons has bolstered its TAK-X technology, facilitating real-time coordination across agencies, further enhancing its competitiveness and technological integration capabilities in the global market.
See More
Parsons Secures $73M Air Force Contract
- Significant Contract Value: Parsons has been awarded a $73 million contract to support the Air Force Research Laboratory's Global Application Research, Development, Engineering, and Maintenance (GARDEM) program, further solidifying its market position in digital and data-driven capabilities.
- Annual Total Surpasses: This contract marks Parsons' fourth GARDEM contract win in 2026, bringing its total awards under the program to $218 million, indicating the company's sustained growth potential in the defense sector.
- Scope of Technical Support: Under the latest contract, Parsons will provide research and development, operations, and maintenance support for the GARDEM 2 enterprise platform and mission application software baselines, ensuring effective operations at existing installations and field sites.
- Capability Migration Strategy: Parsons will also oversee the migration of capabilities to its Lightweight Application Management Platform (LAMP), a scalable environment designed to accelerate mission deployment and lower lifecycle costs, enhancing the company's competitiveness in defense technology.
See More
Parsons Secures $73 Million Air Force Contract for GARDEM
- Contract Value Increase: Parsons Corp has secured a $73 million contract supporting the U.S. Air Force Research Laboratory's GARDEM mission, bringing its total GARDEM awards for 2026 to $218 million, indicating sustained growth potential in the defense sector.
- Expanded Responsibilities: This contract expands the company's responsibilities for research, development, and operations maintenance across the GARDEM 2 enterprise platform and mission application software baselines, enhancing its market position in defense infrastructure solutions.
- Leadership in Technology Migration: Parsons will lead the migration of capabilities to its Lightweight Application Management Platform, a scalable environment designed to accelerate mission deployment and reduce lifecycle costs, reflecting the company's strategic focus on technological innovation and cost control.
- Emphasis on Technology Reuse: The company's technical approach emphasizes technology reuse and integration, enabling rapid capability updates while lowering ownership costs for the government, further solidifying its competitive advantage in the defense contracting market.
See More
Parsons Secures $73 Million Contract for AFRL's GARDEM Mission
- Contract Value Increase: Parsons Corporation has secured a $73 million contract, supporting the Air Force Research Laboratory's Global Application Research, Development, Engineering, and Maintenance (GARDEM) mission, bringing its total awards for 2026 to $218 million, thereby reinforcing its market position in the defense sector.
- Platform Expansion: This contract expands Parsons' responsibilities for research and development and operations and maintenance across the GARDEM 2 enterprise platform and mission application software baselines, indicating the company's ongoing investment in digital and data-driven capabilities aimed at enhancing the Air Force's operational efficiency.
- Cost Efficiency Improvement: By migrating capabilities to the Lightweight Application Management Platform (LAMP), Parsons aims to accelerate global mission deployment while reducing lifecycle costs, enabling the Air Force to deploy advanced capabilities more rapidly in complex environments.
- Strategic Integration Advantage: Parsons' technical approach emphasizes technology reuse and deep integration, allowing for rapid capability updates while lowering total ownership costs for the government, ensuring mission systems can evolve at the operational speed of need, thus enhancing overall operational effectiveness.
See More
