Parsons Corporation (PSN) had a good Tuesday. The engineering and infrastructure firm announced a fresh batch of contract wins spanning both transportation and defense work, and investors responded by pushing shares higher in early trading.
The new deals underscore how Parsons is building momentum across its two main businesses: civil infrastructure projects like transit systems, and national security work ranging from air base upgrades to munitions facilities. Both sides of the house are adding to the company's backlog, which is exactly what investors want to see.
San Antonio's Silver Line Takes Shape
On the transit front, Parsons landed an assignment from the VIA Metropolitan Transit Authority to handle final design work for San Antonio's VIA Rapid Silver Line. This is a significant east-west corridor meant to improve how people move around the city on a daily basis.
The Silver Line will stretch 7.3 miles and include 18 new or upgraded stations, connecting residential areas with major employment centers. VIA's Advanced Rapid Transit system will use dedicated lanes, transit signal priority, and off-board fare collection to cut down on delays and speed up boarding. Think faster, more reliable service without the usual bus headaches.
With an estimated cost around $322 million, the Silver Line represents one of San Antonio's largest recent investments in mobility infrastructure. Parsons is also working on design for VIA's Green Line, which will connect the airport, downtown, and the Missions area. Both corridors will intersect in the city center, creating a more integrated transit network.
Defense Contracts Keep Coming
Meanwhile, the defense side of the business continues to rack up wins. Parsons recently picked up a task order worth more than $100 million from Nammo to support design and construction management of a new rocket motor facility in Perry, Florida. The project is part of a broader effort to strengthen domestic munitions supply chains, which has become a priority as defense budgets shift toward onshoring production.
These announcements come on the heels of Parsons' participation in the Missile Defense Agency's SHIELD program, a multiple-award contract with a jaw-dropping $151 billion ceiling. That kind of scale highlights just how deeply embedded the company is becoming in national security infrastructure.
PSN Price Action: Parsons shares were up 2.56% at $63.76 during premarket trading on Tuesday.