Canada Markets closed

Parsons: 2Q Earnings Snapshot

·1 min read

CENTREVILLE, Va. (AP) _ Parsons Corp. (PSN) on Wednesday reported second-quarter earnings of $23.3 million.

On a per-share basis, the Centreville, Virginia-based company said it had net income of 23 cents. Earnings, adjusted for one-time gains and costs, were 49 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The software and infrastructure services provider posted revenue of $979.5 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $991.6 million.

Parsons expects full-year revenue in the range of $3.95 billion to $4.05 billion.

Parsons shares have fallen 14% since the beginning of the year. The stock has decreased nearly 3% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSN at https://www.zacks.com/ap/PSN

The Associated Press