Stock Track | Parsons Corp Plummets 30.53% Intraday After Q2 Loss and Revenue Guidance Cut

Stock Track07-29

Parsons Corp (PSN) shares plummeted 30.53% during intraday trading on Wednesday, driven by a significant second-quarter earnings miss and a sharp reduction in its full-year revenue outlook.

The company reported an adjusted loss of $0.06 per share, compared with adjusted earnings of $0.78 a year earlier and well below the consensus estimate of $0.76. Revenue for the quarter was $1.6 billion, missing analyst expectations of $1.617 billion, while adjusted EBITDA plunged 72% to $42 million, far short of the $155 million anticipated. The results were heavily impacted by $118 million in charges tied to portfolio restructuring and a joint venture program.

Further weighing on the stock, Parsons lowered its fiscal 2026 revenue guidance to a range of $6.2 billion to $6.5 billion, down from the prior forecast of $6.5 billion to $6.8 billion and below the $6.65 billion consensus estimate. The company also cut its adjusted EBITDA outlook to $500 million to $560 million from $615 million to $675 million.

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