Parsons (PSN) Tops Q3 Earnings and Revenue Estimates

Core Viewpoint - Parsons (PSN) reported quarterly earnings of $0.95 per share, exceeding the Zacks Consensus Estimate of $0.79 per share, and showing an increase from $0.69 per share a year ago, indicating a strong performance in the software and infrastructure services sector [1][2] Financial Performance - The company achieved revenues of $1.81 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 11.35%, compared to $1.42 billion in the same quarter last year [2] - Over the last four quarters, Parsons has consistently exceeded consensus EPS estimates and revenue expectations [2] Stock Performance - Parsons shares have increased approximately 67.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 22.3% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for continued outperformance in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.85 on revenues of $1.68 billion, and for the current fiscal year, it is $3.20 on revenues of $6.52 billion [7] - The trend of estimate revisions for Parsons has been favorable leading up to the earnings release, which may influence future stock movements [6][5] Industry Context - The Technology Services industry, to which Parsons belongs, is currently ranked in the top 22% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]