Parsons Lands San Antonio Rapid Transit Design Deal
Parsons Corporation (NYSE:PSN) stock rose Tuesday after the engineering and infrastructure firm announced a fresh slate of transportation and defense contract awards, reinforcing momentum across its civil and national security businesses.
The latest wins highlight Parsons' expanding project backlog and its growing footprint in both large-scale transit development and U.S. defense modernization efforts.
Transit Projects Bolster Civil Backlog
Parsons said it has secured a transportation assignment from the VIA Metropolitan Transit Authority to complete final design work on San Antonio's VIA Rapid Silver Line, a major east–west transit corridor aimed at improving daily mobility across the city.
Related: Parsons Wins $88 Million Military Contract As US Fortifies Europe Air Bases
The Silver Line will span 7.3 miles and feature 18 new or upgraded stations designed to deliver more frequent and reliable service between residential neighborhoods and key employment hubs. VIA's Advanced Rapid Transit system will rely on dedicated lanes, transit signal priority, and off-board fare collection to reduce delays and shorten boarding times.
With an estimated cost of roughly $322 million, the Silver Line ranks among San Antonio's largest recent mobility investments. Parsons is also contributing to design work on VIA's Green Line, which will link the airport, downtown, and the Missions area, with both corridors intersecting in the city center.
Defense Work Adds Scale And Visibility
Beyond transit, Parsons continues to build scale in defense and security programs. The company recently received a task order valued at more than $100 million from Nammo to support the design and construction management of a new rocket motor facility in Perry, Florida, a project aimed at strengthening domestic munitions supply chains.
The announcements follow Parsons' participation in the Missile Defense Agency's SHIELD program, a multiple-award IDIQ contract with a ceiling of $151 billion, underscoring the firm's expanding role in national security initiatives.
PSN Price Action: Parsons shares were up 2.56% at $63.76 during premarket trading on Tuesday, according to Benzinga Pro data.
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