Parsons下调全年收入、EBITDA和经营现金流指引，股价盘中暴跌近40%

Shares of Parsons (PSN) slipped nearly 40% during early trading on Wednesday as the firm cut its full-year revenue, adjusted EBITDA, and cash flow from operating activities guidance.
The firm reduced its full-year revenue guidance to $6.2B — $6.5B, versus the consensus of $6.65B, from its prior guidance of $6.5B — $6.8B. It also lowered its full-year adjusted EBITDA, including non-controlling interest, to $500M — $560M from its previous guidance of $615M — $675M. Additionally, the firm now expects full-year cash flow from operating activities of $430M — $490M, down from its previous guidance of $470M — $530M.
The firm also reported mixed second-quarter results, as revenue of $1.58B, which was flat year over year, missed market expectations by $30M, while non-GAAP EPS of $0.86 beat market expectations by $0.10.
“Our second quarter results highlight the demand for our solutions and the effectiveness of our strategy in a dynamic macro environment,” said Carey Smith, chair, president, and chief executive officer. “Parsons delivered strong book-to-bill ratios in both segments, achieved profitable growth in its core business, and secured strategic contract wins for long-term success. The Middle East business performed exceptionally well despite regional conflict, posting a 1.1x book-to-bill ratio and 10% organic revenue growth, demonstrating strong alignment with regional spending priorities.
During the quarter, Parsons took decisive portfolio-shaping actions to focus on profitable and sustainable growth. These steps, combined with robust risk management and enhanced bid discipline, further strengthen the company’s market position and margin profile. Looking ahead, we believe Parsons’ strong backlog, robust pipeline, high win rates, and differentiated technology capabilities—especially in advanced AI, cyber, and electronic warfare—position the company to drive profitable growth and deliver long-term shareholder value.”
Shares of PSN have slipped more than 37% so far this year, underperforming the benchmark S&P 500, which has gained more than 8.5% over the same period.