Parsons reports strong first quarter 2023 results

Q1 2023 financial highlights record quarterly revenue of $1.2 billion, representing a 24% increase year-over-year record quarterly organic revenue growth of 12% driven by strength in both segments record first quarter net income increases by 24% to $26 million record first quarter adjusted ebitda increases by 22% to $90 million record first quarter cash flow from operations increases $17 million from q1 2022 book-to-bill ratio of 1.2x on contract awards growth of 51% increasing 2023 guidance ranges for revenue, adjusted ebitda, and cash flow from operations centreville, va., may 03, 2023 (globe newswire) -- parsons corporation (nyse: psn) today announced financial results for the first quarter ended march 31, 2023.
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