Maximus, Inc.
85.14-1.05 (-1.22%)
Oct 29, 4:00:02 PM EDT · NYSE · MMS · USD
Key Stats
Market Cap
4.80BP/E (TTM)
15.83Basic EPS (TTM)
5.38Dividend Yield
0.01%Recent Filings
8-K
Maximus expands stock buyback to $400M
Maximus's board approved an expansion of its stock repurchase program to $400 million on September 8, 2025, building on $32.7 million remaining from the prior authorization. The company will buy shares opportunistically in open markets or via 10b5-1 plans, guided by market conditions and capital needs. This move underscores disciplined capital returns amid strong momentum in government services. Yet purchases remain flexible, with no fixed timeline or obligation.
10-Q
Q3 FY2025 results
Maximus posted solid Q3 FY2025 results, with revenue climbing 2.5% y/y to $1.35B on organic gains in federal clinical programs, while gross margins expanded to 26.7% from 25.3% thanks to volume boosts and fewer penalties. Operating income rose 16.9% y/y to $166M, driving diluted EPS up 27.4% to $1.86 amid share buybacks; YTD figures show 3.1% revenue growth to $4.11B and EPS of $4.20, reconciling cleanly with 58.1M diluted shares. Federal services led with 11.4% q/q revenue surge to $761M, but U.S. Services dipped on normalized Medicaid volumes, and international revenue fell 7.5% y/y post-Australia/Korea divestiture in December 2024 for nominal cash plus up to $5M contingent. Cash dipped to $60M amid billing delays, offset by $310M revolver draw on $1.67B total debt (5.5% effective rate, covenants met); free cash flow not disclosed in the 10-Q. Delays in federal and state payments strained liquidity, though resolutions are underway.
8-K
Maximus raises FY25 guidance
Maximus reported Q3 fiscal 2025 revenue up 2.5% to $1.35 billion, with adjusted diluted EPS rising to $2.16 from $1.74 year-over-year, fueled by 11.4% growth in U.S. Federal Services to $761.2 million amid elevated clinical volumes. While U.S. Services dipped 6.9% due to normalized Medicaid activity, the company raised full-year guidance to $5.375-$5.475 billion in revenue and $7.35-$7.55 adjusted EPS. Cash flows strained temporarily from payment delays. Strong federal momentum offsets segment variances.
8-K
Maximus tightens bylaws
Maximus, Inc. amended its bylaws on June 10, 2025, tightening shareholder advance notice rules for director nominations and business proposals. Changes demand detailed disclosures on stock ownership, derivative instruments from the past 24 months, performance fees, short interests, and material relationships, plus certifications of legal compliance. Nominees are capped at the number of seats up for election. These updates bolster board control amid activist pressures.
10-Q
Q2 FY2025 results
Maximus posted solid Q2 FY2025 results, with revenue up 1.0% y/y to $1.36B, fueled by 10.9% growth in U.S. Federal Services from higher clinical assessment volumes and FEMA support, while U.S. Services dipped 9.0% y/y amid normalized Medicaid activity. Gross margin expanded to 24.9% from 23.6%, lifting operating income 20.0% y/y to $153M and diluted EPS to $1.69, up 29.0% y/y, with EPS reconciling to 57.1M diluted shares. Cash dipped to $108M amid $37M operating outflow from delayed state payments, yet free cash flow ran negative at -$77M after $40M capex; total debt climbed to $1.51B following a $250M term loan add, with $615M revolver availability and covenant compliance. Divestitures of Australia and Korea ops in December 2024 incurred $39M charges but sharpened Outside U.S. margins to 3.4%. Government spending shifts pose a key risk.
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