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.
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