Parsons Corporation (PSN) Misses Q2 EPS by 19c, Lowers FY Guidance
Parsons Corporation (NYSE: PSN) reported Q2 EPS of $0.32, $0.19 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $879 million versus the consensus estimate of $984.97 million.
GUIDANCE:
Parsons Corporation sees FY2021 revenue of $3.6-3.7 million, versus the consensus of $3.94 million.
The company is updating its fiscal year 2021 guidance based on its financial results for the first half of 2021 and its current outlook for the remainder of year. The table below summarizes the company’s fiscal year 2021 guidance.
| Current Fiscal Year 2021 Guidance | Prior Fiscal Year 2021 Guidance | |
| Revenue | $3.6 billion - $3.7 billion | $3.85 billion - $4.05 billion |
| Adjusted EBITDA including non-controlling interest | $295 million - $315 million | $350 million - $375 million |
| Cash Flow from Operating Activities | $195 million - $215 million | $280 million - $310 million |
Net income guidance is not presented as the company believes volatility associated with interest, taxes, depreciation, amortization and other matters affecting net income, including but not limited to one-time and nonrecurring events and impact of M&A, will preclude the company from providing accurate net income guidance for fiscal year 2021.
For earnings history and earnings-related data on Parsons Corporation (PSN) click here.