Parsons Slashes 2026 Revenue Outlook, Analysts Cut Targets After Q2 Miss
PSN sits 23% above its 52-week low of $36.26.
Summary
Parsons lowered its 2026 revenue guidance to $6.2B–$6.5B from $6.5B–$6.8B, below the $6.66B consensus, following a Q2 adjusted loss of $0.06 per share on $1.58B in revenue, missing estimates. The company took $118M in portfolio-shaping and JV charges, driving a 99% drop in operating income. Several analysts cut price targets—Truist to $60 from $75, UBS to $58, Citi to $53, Stifel to $66—while maintaining Buy ratings, citing long-term exposure to defense priorities. The stock is down 41% over the past year and trading well below key moving averages, though it edged up 0.6% on Friday. The guidance cut and analyst revisions add new detail to the July 29 earnings release, highlighting the depth of the reset.
At the time of this announcement, PSN was trading at $44.51 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $4.8B. The 52-week trading range was $36.26 to $89.50. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.