Why Parsons Stock Is Down Today
Shares of Parsons (NYSE: PSN) fell as much as 11% on Wednesday after the provider of government services reported weaker than expected earnings and issued a tepid outlook for 2021. The pandemic is slowing business for many defense services companies, and Parsons is part of that trend. Before markets opened, Parsons reported fourth-quarter earnings of $0.21 per share on revenue of $964.26 million, falling short of analyst expectations for $0.34 per share in earnings on sales of $1.04 billion.
