Infrastructure and defense services provider Parsons will report its second-quarter earnings this Wednesday before the bell. The company missed analysts' revenue expectations last quarter, posting revenues of $1.49 billion, a 4.1% year-on-year decline, though it beat EBITDA estimates. For the upcoming quarter, the market expects revenue growth of 1.4% year-on-year, reversing a 5.2% decline in the same quarter last year. Analysts have largely maintained their estimates over the past 30 days, but Parsons has missed Wall Street revenue estimates multiple times over the last two years. Among defense contractor peers, RTX and Lockheed Martin have already reported Q2 results, with RTX delivering 14.5% revenue growth and beating estimates by 7.8%, and Lockheed Martin growing revenues 10.5% and topping estimates by 3.8%. Parsons shares are up 15.9% over the last month, heading into earnings with an average analyst price target of $69.18 compared to the current share price of $59.50.
Parsons CorpParsons is about to report Q2 earnings; the article notes past revenue misses and analyst expectations, creating uncertainty.
Lockheed Martin Corporation
RTX Corporation