Quarterly ResultJul 29, 2026, 06:41 AM
Parsons Reports Q2 Net Loss of $15.2M; EPS $(0.14)
AI Summary
Parsons Corporation reported a net loss of $15.2 million for the second quarter of 2026, a significant decline from a net income of $55.2 million in the same period last year, resulting in basic and diluted EPS of $(0.14). Revenue for the quarter slightly decreased to $1.576 billion. Year-to-date net income also saw a substantial drop to $37.7 million. The company completed the acquisition of Altamira Technologies Corporation for $339 million in cash, aiming to expand its defense and intelligence capabilities, and also acquired Applied Sciences Consulting, Inc. and Chesapeake Technology International, Corp in recent periods.
Key Highlights
- Parsons reported Q2 2026 net loss of $15.2 million, down from $55.2 million net income in Q2 2025.
- Basic and diluted EPS for Q2 2026 were $(0.14), compared to $0.52 and $0.50 respectively in Q2 2025.
- Q2 2026 revenue was $1.576 billion, a slight decrease from $1.584 billion in Q2 2025.
- Year-to-date 2026 net income was $37.7 million, significantly lower than $121.4 million in YTD 2025.
- Acquired Altamira Technologies Corporation for $339 million in cash, enhancing defense and intelligence portfolio.
- Net cash provided by operating activities for YTD 2026 was $53.9 million, down from $148.0 million in YTD 2025.
- Long-term debt increased to $1.474 billion as of June 30, 2026, from $1.238 billion at year-end 2025.
Price Impact
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