Parsons Corporation Reports Earnings for FY2023 Q2 on August 2 2023
August 26, 2023
🌥️Earnings Overview
On August 2 2023, PARSONS CORPORATION ($NYSE:PSN) announced their financial results for the quarter ending June 30 2023. Total revenue had grown by 34.5% year over year to USD 1356.5 million, while net income rose dramatically by 136.3% compared to the same period last year, reaching USD 43.2 million.
Price History
On Wednesday, August 2nd 2023, PARSONS CORPORATION reported its earnings for the fiscal year 2023 Q2. The company’s stock opened the day at $50.5 and closed at $54.4, a jump of 9.9% from its last closing price of $49.5. The boost in stock price was attributed to positive Q2 earnings, including higher-than-expected revenue and EPS numbers. The 10th consecutive quarter of growth showed a strong performance by the company and the stock price surged accordingly.
This pushed the stock further up and marked the end of a successful quarter for PARSONS CORPORATION. The company is expected to continue on its growth trajectory and investors are optimistic about its future prospects. With a solid balance sheet and a strong management team, PARSONS CORPORATION is well-positioned to capitalize on any opportunities that come its way in the months ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Parsons Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.77k | 126.5 | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Parsons Corporation. More…
| Operations | Investing | Financing |
| 226.18 | -97.85 | -76.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Parsons Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.51k | 2.32k | 20.21 |
Key Ratios Snapshot
Some of the financial key ratios for Parsons Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.9% | 27.6% | 5.3% |
| FCF Margin | ROE | ROA |
| 4.0% | 7.5% | 3.5% |
Analysis
At GoodWhale, we recently conducted an analysis of PARSONS CORPORATION‘s financials, and have determined the company to be a medium risk investment. This conclusion was based on the company’s Risk Rating, which takes into account the financial and business aspects of the company. In addition to the Risk Rating, GoodWhale also detected two risk warnings in the balance sheet and cashflow statement. With this in mind, we recommend that potential investors register on GoodWhale.com to review these risk warnings and make an informed decision about whether or not investing in PARSONS CORPORATION is a good idea. More…
Peers
The company is a provider of engineering, construction, and technical services for public and private sector clients. Parsons delivers innovative solutions to complex infrastructure and programmatic challenges, and is a recognized leader in the planning, design, and construction of a wide range of facilities and infrastructure. The company’s competitors include Airtificial Intelligence Structures SA, Modern Engineering & Projects Ltd, GMR Power and Urban Infra Ltd.
– Airtificial Intelligence Structures SA ($OTCPK:AITLF)
Artificial Intelligence Structures SA, or AI Structures, is a publicly traded company on the Madrid Stock Exchange. As of 2022, AI Structures has a market capitalization of €69.19 million and a return on equity of -7.34%. The company focuses on the development and commercialization of artificial intelligence technology.
– Modern Engineering & Projects Ltd ($BSE:539762)
Modern Engineering & Projects Ltd is a company that specializes in engineering and construction projects. The company has a market cap of 73.54M as of 2022 and a Return on Equity of -2211.89%. Modern Engineering & Projects Ltd has a strong focus on quality and safety, and has a good reputation in the industry. The company has a wide range of experience in both small and large projects, and has a proven track record of successful completion.
– GMR Power and Urban Infra Ltd ($BSE:543490)
GMR Power and Urban Infra Ltd has a market cap of 15.21B as of 2022, a Return on Equity of -54.42%. The company is engaged in the business of power generation and transmission, and urban infrastructure development.
Summary
Investors in Parsons Corporation have been rewarded with strong financial results for the second quarter of FY2023. Total revenue increased by 34.5% year-over-year to USD 1356.5 million, while net income was reported to be USD 43.2 million, a 136.3% increase from the prior year. The stock price reacted positively to the news, driving the stock higher on the same day. Going forward, investors should keep an eye on management’s plans for capitalizing on the growth opportunities presented by this strong financial performance.
Additionally, investors should monitor the company’s financial health, and monitor any potential risks that could affect the stock in the future.
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