Parsons Corporation cut its full-year 2026 revenue and adjusted EBITDA targets on July 29, 2026, months after reaffirming them -- the stock price fell 35% as the Company disclosed a terminated fixed-price contract and project delays behind the shortfall.
NEW YORK, July 30, 2026 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) lowered its full-year 2026 adjusted EBITDA guidance to $500-$560 million from $615-$675 million on July 29, 2026 -- a reduction of as much as $115 million -- and cut revenue guidance to $6.2-$6.5 billion from $6.5-$6.8 billion, and the stock dropped 35%. Shareholders who lost money on PSN are encouraged to submit their losses for review now. You may also contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.
The guidance cut was disclosed via Form 8-K. Management attributed the shortfall to ""planned divestitures," "lower pass-through costs," and "federal contract timing," as well as a confidential fixed-price contract that was "canceled by the administration."
That confidential program was described by Chair, President and CEO Carey Smith on the November 5, 2025 earnings call as follows: "The program is in a wind-down state, so we're basically demobilizing." The program generated $50 million of revenue in that quarter. It was later cited among the primary drivers of the fiscal 2026 shortfall. Reported adjusted EBITDA for the latest quarter was approximately $42 million, down roughly 72% year over year, alongside a net loss of about $15 million.
Investors who purchased Parsons shares and suffered a loss are encouraged to request a free case evaluation here, or call Joseph E. Levi, Esq. at (212) 363-7500.
Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com
Frequently Asked Questions About the PSN Investigation
Q: Which statements are being investigated as potentially misleading? A: The investigation concerns whether Parsons Corporation made materially false or misleading statements regarding its full-year 2026 revenue and adjusted EBITDA outlook. When the Company cut guidance on July 29, 2026, the stock price declined 35%.
Q: Who is eligible to participate in the PSN investigation? A: Investors who purchased PSN stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.
Q: What do PSN investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible to participate in the investigation.
Q: What documents do I need to participate? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my PSN shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PSN and sold at a loss may still participate in the investigation.
Q: What does it cost me to participate? A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis -- no retainer and no out-of-pocket costs.
Q: What if I live outside the United States? A: U.S. securities investigations generally cover purchases on U.S. exchanges regardless of the investor's country of residence.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
View original content to download multimedia:https://www.prnewswire.com/news-releases/parsons-investigation-notice-levi--korsinsky-notifies-investors-of-pending-investigation-into-parsons-psn-302839280.html
SOURCE Levi & Korsinsky, LLP
