Parsons receives engineering excellence award for I-270 project

CHANTILLY, Va. - Parsons Corporation (NYSE:PSN), an $8.09 billion infrastructure technology company with "GREAT" financial health according to InvestingPro analysis, announced Thursday that its work as lead designer for the I-270 North Design-Build Project has received the Engineering Excellence Award from the American Council of Engineering Companies (ACEC) of Missouri, along with national recognition through the 2025 ACEC Engineering Excellence Awards.

The $252 million infrastructure project, described as the Missouri Department of Transportation’s largest recent undertaking, involved rehabilitating and widening a nine-mile stretch of I-270 and reconstructing ten interchanges. The work included implementing one-way roadways and modern roundabouts to reduce congestion and improve safety. This project contributes to Parsons’ robust revenue growth of 16.61% over the last twelve months, with total revenue reaching $6.77 billion.

As part of the project, Parsons eliminated unsignalized, at-grade crossovers and constructed 18 new bridges to improve regional traffic flow. The company completed the work within a fixed-price design-build contract.

"This project is a testament to our commitment to improving transportation infrastructure that enhances safety, mobility, and economic growth," said Mark Fialkowski, president of Infrastructure North America for Parsons, according to the company’s press release. With the company’s stock trading near its InvestingPro Fair Value and its next earnings report scheduled for August 6, investors can access detailed analysis and 8 additional ProTips through InvestingPro’s comprehensive research reports.

Parsons noted that it has experience designing and delivering infrastructure including more than 10,000 miles of roadways and 4,500 bridges globally. The company’s strong execution has contributed to its positive three-month return and maintained profitability over the last twelve months.

The I-270 North Design-Build Project was selected from among infrastructure projects nationwide for the recognition.

In other recent news, Parsons Corporation has been appointed as the Project Management Consultant for the Dubai Metro Blue Line project, a five-year contract involving comprehensive project management services. The Dubai Metro Blue Line, part of Dubai’s D33 Economic Agenda, is expected to begin operations in 2029. Additionally, Parsons has acquired Chesapeake Technology International (CTI) for $89 million, enhancing its capabilities in electromagnetic warfare and solutions for the U.S. defense market. This acquisition aligns with Parsons’ strategy of expanding in key growth areas and is expected to positively impact its financial metrics. Raymond James upgraded Parsons’ stock rating to Strong Buy, setting a $90 price target, citing de-risked estimates and growth opportunities. Stifel reiterated its Buy rating with an $81 target, emphasizing the strategic value of the CTI acquisition. Truist Securities also maintained its Buy rating, highlighting confidence in Parsons’ growth trajectory through 2025 and beyond. These developments reflect Parsons’ strategic moves and analyst confidence in its growth prospects.

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