Parsons (PSN) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Parsons (PSN) reported revenue of $1.36 billion, up 34.5% over the same period last year. EPS came in at $0.63, compared to $0.41 in the year-ago quarter.
The reported revenue represents a surprise of +21.08% over the Zacks Consensus Estimate of $1.12 billion. With the consensus EPS estimate being $0.49, the EPS surprise was +28.57%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Parsons performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Critical Infrastructure: $594 million versus the three-analyst average estimate of $520.11 million. The reported number represents a year-over-year change of +26.1%.
Revenues- Federal Solutions: $763 million versus the three-analyst average estimate of $604.14 million. The reported number represents a year-over-year change of +41.9%.
Adjusted EBITDA- Critical Infrastructure: $33 million versus the two-analyst average estimate of $38.70 million.
Adjusted EBITDA- Federal Solutions: $86 million versus the two-analyst average estimate of $54.44 million.
View all Key Company Metrics for Parsons here>>>
Shares of Parsons have returned +2.7% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Parsons Corporation (PSN) : Free Stock Analysis Report
