Parsons Third Quarter 2024 Earnings: Beats Expectations

Parsons (NYSE:PSN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.81b (up 28% from 3Q 2023).
• Net income: US$72.0m (up 52% from 3Q 2023).
• Profit margin: 4.0% (up from 3.3% in 3Q 2023).
• EPS: US$0.68 (up from US$0.45 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Parsons Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in the US.

Performance of the American Professional Services industry.

The company's shares are up 3.8% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Parsons you should know about.

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