(Updates to include Q2 normalized EPS in the third paragraph.)

Parsons (PSN) reported a Q2 adjusted loss Wednesday of $0.06 per diluted share, compared with adjusted earnings of $0.78 a year earlier.

Analysts surveyed by FactSet expected adjusted EPS of $0.76.

On a normalized basis, the company reported Q2 adjusted EPS of $0.86.

Revenue for the quarter ended June 30 was $1.58 billion, unchanged from a year earlier.

Analysts expected $1.61 billion.

For 2026, revenue is now projected to be $6.2 billion to $6.5 billion, compared with the prior outlook of $6.5 billion to $6.8 billion. Analysts expect $6.65 billion.

Parsons shares were down nearly 21% in premarket activity.