Parsons Faces Earnings Pressure After Reducing 2026 Revenue Outlook

Parsons Corporation (NYSE: PSN ) shares are trading higher by almost 1% on Friday. The company reported weak second quarter earnings and slashed guidance on Wednesday. The move also stands out on a mixed tape where market breadth is weak (only 3 sectors advancing) and small-caps are sliding (Russell 2000 down 1.01%). Mixed Q2 Earnings Parsons reported adjusted loss per share of six cents, which may not be comparable with the analyst consensus estimate of 76 cents. Revenue came in at $1.576 billion, missing the $1.617 billion consensus. Revenue declined 1% year over year (Y/Y) and 5% Y/Y organically. Operating income fell 99% Y/Y to $1 million due to losses from programs targeted for divestiture and charges related to a joint venture program. The company also lowered its FY2026 revenue guidance to $6.2 billion—$6.5 billion from its prior outlook of $6.5 billion—$6.8 billion, below the...