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Parsons First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Parsons (NYSE:PSN) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$1.54b (up 31% from 1Q 2023).

  • Net loss: US$107.4m (down from US$25.6m profit in 1Q 2023).

  • US$1.01 loss per share (down from US$0.24 profit in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Parsons Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates.

Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Professional Services industry in the US.

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Performance of the American Professional Services industry.

The company's shares are down 2.1% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Parsons has 2 warning signs we think you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.