MMS
Maximus, Inc.87.77
+1.27+1.47%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q1 '26
SNAP/Medicaid timing, GSA details clarified
Q&A clarified Medicaid/SNAP tailwinds, sizing them as high single- to low double-digit organic growth for US Services ramping in FY27 to full FY28 run-rate, with SNAP's Accuracy Assistant drawing strong state receptivity for error reduction and process redesign. Management detailed the GSA BPA's TXM platform, highlighting AI-powered multichannel contact centers for FDA-like use cases. US Services volumes fell as expected seasonally but will resume organic growth by Q4 amid transaction upticks. Analysts pressed on VA/PAC Deck steadiness and segment paths; responses confirmed no shutdown drag, durable demand. Guidance stays tight. Q&A largely reaffirms script but sharpens timing. Punchy: US Services growth resumes by Q4.
Key Stats
Market Cap
4.95BP/E (TTM)
15.93Basic EPS (TTM)
5.51Dividend Yield
0.01%Recent Filings
8-K
Shareholders re-elect board
Maximus shareholders overwhelmingly elected eight directors—including Bruce L. Caswell, Jan D. Madsen, and Michael J. Warren—for one-year terms at the March 10, 2026 annual meeting, with 93.2% of shares present. They ratified KPMG LLP as 2026 auditors and approved executive pay on an advisory basis. All nominees won handily.
8-K
Q1 results beat; guidance raised
Maximus reported Q1 FY2026 revenue of $1.35B, down 4.1% from $1.40B, yet adjusted diluted EPS jumped to $1.85 from $1.61 on U.S. Federal Services margin expansion to 16.5% and a $9M divestiture gain. Company divested its U.S. child support business. Raised FY2026 guidance: revenue $5.2B-$5.35B, adjusted EBITDA margin ~14%, adjusted EPS $8.05-$8.35. Cash flow dipped seasonally.
10-Q
Q1 FY2026 results
Maximus posted Q1 FY2026 revenue of $1.35B, down 4.1% y/y amid divestitures, yet gross profit climbed 5.7% to $319M (23.7% margin) on U.S. Federal Services strength (revenue +0.8% y/y to $787M, margins 27.3%). Operating income doubled to $146M (10.9% margin), fueled by $9M gain from December 2025 child support divestiture, while SG&A dropped sharply; diluted EPS hit $1.70 on 55.3M shares, reconciling cleanly. U.S. Services revenue fell 8.2% y/y on lower volumes; Outside U.S. plunged 15.7% post-Australia/Korea sales. Cash fell to $138M amid $244M operating outflow from collections delays, offset by $157M net debt inflows to $1.58B total (in covenant compliance, $505M revolver availability). Share buybacks totaled $41M. Government contract terminations pose ongoing risk.
8-K
CLO Martinez resigns February 2026
10-K
FY2025 results
Maximus posted FY2025 revenue of $5.4B, up 2.4% y/y despite divestitures, with U.S. Federal Services surging 12.1% to $3.1B on clinical assessments and FEMA support, while U.S. Services dipped 7.7% post-Medicaid redeterminations. Operating income climbed to $528M (9.7% margin), fueled by Federal's 15.3% margin; net income hit $319M or $5.51 diluted EPS. Q4 accelerated Federal momentum via tech productivity, yet backlog slipped to $15.3B. Free cash flow funded $448M buybacks amid $1.3B debt at 5.37%; FY2026 segment margins guided 15.5-16%, 10-11%, 3-5%. Government contract terminations threaten revenue.
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