Parsons Corporation 2Q19 Profit Fall Behind Market View

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Parsons Corporation (NYSE:PSN) published second quarter financial results before market open today that fall behind street estimates

The company announced income for the second quarter lowered 75.96 percent of $ 40.26 million or $ 0.44 per share, compared to income of $ 148.38 million or $ 1.83 per share for the year-ago quarter.

PSN recorded second quarter adjusted net income of $ 32.27 million or or $ 0.43 per share, while According to street consensus, income of $ 0.57 was expected per share

PSN recorded revenue that raised 9.88 percent to $ 989.74 million from $ 900.73 million in the same quarter last year

Analysts estimates are from Thomson Reuters, exclude one time gain or loss.

Chuck Harrington, Chairman, CEO and President, said, Our margin expansion continues and our ability to win new business and grow existing contracts is enabling us to build backlog and drive top-line growth in high priority markets.

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