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CHANTILLY, Va. - Parsons Corporation (NYSE:PSN), an $8.1 billion market cap defense contractor with strong financial health according to InvestingPro analysis, has opened a new 27,000-square-foot facility in Redstone Gateway, located just outside Redstone Arsenal’s Gate 9 in Huntsville, Alabama.
The facility includes 21,000 square feet of high-bay space for supporting various advanced programs, with the remaining space dedicated to offices, collaboration areas, and secure environments customized for customer requirements. The expansion comes as Parsons maintains a healthy balance sheet with liquid assets exceeding short-term obligations and operates with a moderate debt-to-equity ratio of 0.59.
"As a longtime contributor to Huntsville’s defense ecosystem, our new Redstone Gateway facility is a strategic investment to better serve our customers and support the warfighter," said Jim Matthews, Parsons Vice President of Mission Systems Analysis, in a press release statement.
The company indicated that the facility’s proximity to Redstone Arsenal will enable closer integration with ongoing programs and support rapid development cycles for national security priorities, including a program identified as Golden Dome.
Steven M. Rush, Director of the Missile and Space Intelligence Center (MSIC), noted that Parsons’ investment "represents a continued commitment to both the Redstone Arsenal space and missile defense missions as well as the broader Huntsville community."
The new location strengthens Parsons’ position in the defense, space, and missile systems sectors, according to the company. The expansion aligns with the missions of Redstone Arsenal, the U.S. Department of Defense, and the U.S. Space Force.
Parsons has been operating in the Huntsville defense community for several years, with this new facility representing its latest investment in infrastructure to support its defense and space operations. The company’s strategic expansion aligns with its robust 9.2% revenue growth over the last twelve months. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers this and over 1,400 other US equities with expert analysis and actionable intelligence.
In other recent news, Parsons Corporation has secured significant contracts with the U.S. Army, enhancing its radar engineering capabilities. The company was awarded an $81 million task order by the U.S. Army Combat Capabilities Development Command to provide radar engineering solutions. Additionally, Parsons received a $30 million recompete contract from the Army’s C5ISR Center for radar development engineering services. In a separate development, the New Jersey Department of Transportation has implemented a statewide traffic management system powered by Parsons’ Intelligent NETworks solution. Meanwhile, analyst opinions on Parsons have varied recently. Goldman Sachs downgraded Parsons from Buy to Neutral, citing concerns about the company’s growth prospects beyond 2025. On the other hand, Baird upgraded Parsons to Outperform, highlighting a strong growth outlook and potential catalysts in upcoming projects. These developments reflect Parsons’ active role in defense and infrastructure sectors.
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