Parsons jumps on Middle East contract wins, including $97 billion in Qatar

Investing.comMay 14, 2025 5:04 PM

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Investing.com -- Shares of Parsons Corp (NYSE:PSN) jumped over 2% higher Wednesday after it was announced by the White House that the company has successfully won 30 projects worth up to $97 billion in Qatar.

U.S. President Donald Trump is in Qatar today and has already announced economic deals totaling more than $243.5 billion between the United States and Qatar.

“Parsons has successfully won 30 projects worth up to $97 billion,” the White House said today. "These high-value engagements have fueled significant company growth, supporting thousands of jobs across the United States and reinforcing American leadership in cutting-edge engineering and innovation."

In addition to today’s Qatar announcement, Parsons announced a deal in Saudi Arabia to partner for King Salman International Airport on Tuesday.

Parsons said the first contract for the King Salman International Airport covers airfield assets, including runways, taxiways, aircraft parking areas, and air traffic control towers. The second contract involves landside infrastructure, encompassing roads, utilities, tunnels, bridges, a rail network, and landscaping. The company did not provide a dollar amount on the Saudi contracts, but said they are “significant contracts” and represent new work spanning the initial four years of the airport’s multi-year development.

President Trump was in Saudi Arabia on Tuesday.

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