Parsons’ Board approves $250 million stock buyback program

Parsons Corporation (NYSE: PSN) announced today that its board of directors has increased the company’s stock repurchase authorization to $250 million.

“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.”

There can be no assurance of repurchases, as they depend upon a variety of factors, including changes in market conditions and economic circumstances, availability of investment opportunities, uncertainties relating to availability and costs of our financing needs in the future, currency fluctuations, the market price of the Company’s common stock and the suspension or discontinuance of the share repurchase program, among other events.

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