Reports Q1 revenue $1.2B, consensus $1.06B. "We had a strong quarter with record first quarter total revenue, organic growth, adjusted EBITDA, and cash flow results," said Carey Smith, chair, president, and chief executive officer. "We also won large strategic contracts in both our Federal Solutions and Critical Infrastructure segments driving a 51% increase in contract award activity. In addition, we maintained our hiring and retention momentum, acquired a strategic asset that enhances Parsons’ critical infrastructure protection capabilities, and increased all three of our 2023 guidance metrics. I am very excited about our business given the significant amount of new and recompete contracts we have won, our strong backlog, and robust balance sheet that will enable us to continue to make accretive acquisitions to drive future revenue growth and margin expansion."
Published first on TheFly
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