Parsons reports Q2 adj. EPS 43c, consensus 57c
Reports Q2 revenue $990M, consensus $953.85M. "We reported strong Q2 results in both our Federal Solutions and Critical Infrastructure markets," said Chuck Harrington, Chairman, CEO and President of Parsons Corporation. "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. Our focus on cyber, intelligence, space and intelligent transportation markets and growing our artificial intelligence, autonomous systems (including hypersonics), cloud computing and IoT technologies are paying off with contract wins and award fees. The strategic acquisition of QRC enhances our existing products portfolio, expands our presence in the important U.S. special operations and intelligence communities, and improves our revenue growth and margin profile. Our robust balance sheet ideally positions us for continued investment in our strategic initiatives."