Shares of Parsons Corporation (PSN) dropped nearly 14% on Wednesday morning after the company reported a quarterly revenue decline despite improved earnings and upbeat full-year guidance.
The stock is currently trading at $60.65, down $9.56 or 13.62%, on the NYSE. The stock opened at $60.78 after closing Tuesday at $70.21. The stock has traded between $54.56 and $89.50 in the past 52-week period.
Parsons reported fourth-quarter net income of $55.58 million, or $0.51 per share, up slightly from $54.18 million, or $0.49 per share, a year earlier. Adjusted earnings rose to $0.75 per share.
Quarterly revenues fell 7.6% to $1.60 billion.
Looking ahead, the company expects fiscal 2026 adjusted EBITDA of $615 million to $675 million on revenue of $6.5 billion to $6.8 billion, signaling growth from fiscal 2025 levels.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.