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Parsons Earnings Jump On Tax Benefit, Sales Higher On Acquisitions

Cal Biesecker By
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Parsons Earnings Jump On Tax Benefit, Sales Higher On Acquisitions
Parsons Chairwoman, President and CEO Carey Smith. Photo: Parsons

Parsons [PSN] on Tuesday posted higher third quarter earnings due to a tax benefit and sales were up on acquisitions in its Federal Solutions Segment and to a lesser degree on an increase in organic revenue. Net income climbed 38 percent to $56.8 million, 57 cents earnings per share (EPS), from $41.2 million (52 cents EPS). Adjusted earnings were up a percent to $84 million (52 cents EPS), topping consensus estimates of 37 cents per share. Sales increased 5 percent…

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