NYSE:PSNProfessional Services
Parsons (PSN) Stock Jumps As Backlog Strength Counters Q2 Loss
Parsons stock jumped 7.1% to US$43.17 today even though the headline number was uncomfortable for anyone focused on profit. Quarterly revenue in Q2 landed at about US$1.6b, but the company swung to a loss with basic earnings per share moving into negative territory. The emotional tug of a strong backlog and adjusted margin story is colliding with the cold fact of a quarter weighed down by nonrecurring charges.
Love the revenue scale and contract visibility at Parsons but uneasy about a...