Parsons: 3Q Earnings Snapshot

CENTREVILLE, Va. (AP) _ Parsons Corp. (PSN) on Wednesday reported third-quarter net income of $40.7 million.

The Centreville, Virginia-based company said it had net income of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 57 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The software and infrastructure services provider posted revenue of $1 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.01 billion.

Parsons expects full-year revenue in the range of $3.95 billion to $4.05 billion.

Parsons shares have dropped 19% since the beginning of the year. The stock has declined 8.5% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSN at https://www.zacks.com/ap/PSN

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.

Comments

Sign up for breaking news alerts