Priya Patel
TLDR:
– Parsons Corp. reports 2023 profit of $161 million on revenue of $5.4 billion.
– Company’s share price closed at about $75.29, reaffirming its business model and strategy.
In 2023, Parsons Corp., a leading government and military technology contractor, reported a net income of $161 million on revenue of $5.4 billion, showing significant growth from the previous year. The company’s share price also closed at about $75.29, well above its low for the past year, reaffirming its business model and strategy. Parsons successfully shifted its identity to a technology company and saw growth in both new and existing contracts, with acquisitions adding to the revenue increase. CEO Carey Smith highlighted the strong demand for the company’s services in defense markets, including cyber security and critical infrastructure protection. Overall, Parsons’ performance in 2023 reflects its status as a key player in the government security technology sector.
