Parsons boosts stock repurchase authorization to $250M

Parsons (PSN) Corporation announced that its board of directors has increased the company’s stock repurchase authorization to $250M. “Parsons’ strong operating results and cash flow allow us to increase share repurchases while simultaneously executing on our strategic plan of investing in accretive organic and inorganic growth opportunities,” said Parsons’ Chair, President, and Chief Executive Officer Carey Smith. “Our integrated solutions, demonstrated experience as an innovator in national security and global infrastructure markets, and commitment to speed and agility are what the world needs and our customers demand in today’s operating environment. The Board’s support for the increased authority reflects their collective confidence in our strategy, ability to continue to deliver strong operating results, and drive positive shareholder returns.”