Maximus, Inc. (MMS) shares have returned 8% in the past month, and we believe that the stock has the potential to sustain its momentum in the near term.MMS carries a Zacks Rank #2 (Buy) and a VGM Score of A at present. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best investment opportunities for investors. Thus, the company appears to be a compelling investment proposition.The Zacks Consensus Estimate for fiscal 2025 earnings is ...

Maximus (MMS) has been on a downward spiral lately with significant selling pressure. After declining 21.8% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ...

Maximus (MMS) has been on a downward spiral lately with significant selling pressure. After declining 16.2% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is ove ...

Financial Data and Key Metrics Changes - For fiscal year 2024, consolidated revenue increased by 8.2% to $5.31 billion, with organic revenue growth of 8.8% [30][29] - Adjusted earnings per share (EPS) for fiscal year 2024 was $6.11, a significant increase from $3.83 in the prior year [30][29] - Free cash flow exceeded $400 million, representing nearly 80% growth over the prior year [29][36] - Adjusted EBITDA margin for fiscal year 2024 was 11.6%, compared to 9.1% in the prior year [31][30] Business Line Data and Key Metrics Changes - US Federal Services segment revenue increased by 13.9% to $2.74 billion, driven by volume growth on expanded clinical programs [33] - US Services segment revenue grew by 5.5% to $1.91 billion, supported by strong performance in core Medicaid-related activities [34] - Outside the US segment revenue decreased by 4.6% to $657 million, impacted by prior year divestitures [35] Market Data and Key Metrics Changes - The total pipeline as of September 30 was $54.3 billion, up from $44.1 billion in the previous quarter [23] - Approximately 68% of the total pipeline is attributed to the US Federal Services segment [23] - The book-to-bill ratio for the trailing 12-month period was approximately 0.4 times, reflecting lower-than-normal rebid activity [22] Company Strategy and Development Direction - The company is focused on technology modernization and has secured contracts that align with this strategic priority, including a $128 million task order with the IRS [16] - The company aims for a compound annual growth rate of 5% over the next three years, consistent with mid-single-digit organic growth targets [15] - The company is committed to maintaining a disciplined approach to capital allocation, prioritizing organic investments and strategic acquisitions [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the transition to a new administration, emphasizing its established role as a trusted partner to governments [12][26] - The company anticipates a return to a more normal volume of rebids and procurement activity in fiscal year 2025 [22][62] - Management highlighted the importance of continuing to deliver high-quality services to over 100 million Americans, particularly in entitlement programs [55] Other Important Information - The company repurchased approximately 0.9 million shares for about $73 million during fiscal year 2024, with an additional 0.5 million shares repurchased post-year-end [37] - The company is currently involved in legal proceedings regarding the CMS CCO contract, with a stay of award until March 15, 2025 [22] Q&A Session Summary Question: Update on the CCO contract - Management confirmed that the GAO upheld a protest regarding the procurement, and the administration has indicated that award announcements will not occur until March 2025 [53] Question: Comparison of Trump 1.0 and Trump 2.0 administrations - Management noted that the current administration has more experience, which may reduce delays in procurement processes compared to the previous administration [54] Question: Clarification on revenue guidance and margins - Management explained that fiscal year 2024 margins benefited from excess volumes that are not expected to recur in fiscal year 2025, leading to a more normalized margin outlook [58] Question: Backlog and book-to-bill dynamics - Management indicated that the book-to-bill ratio is expected to trend towards 1.0 as rebid activity normalizes in fiscal year 2025 [62]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2024 ☐ TRANSITIONAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________. Commission file number: 1-12997 Maximus, Inc. Title of each class Trading Symbol(s) Name of each exchange on which regist ...

| --- | --- | |---------------------------------------------------|-------| | | | | | | | | | | | | | | | | Fiscal 2024 Year End | | | Earnings Call | | | Bruce Caswell President & Chief Executive Officer | | | November 21, 2024 | | Forward-looking Statements & Non-GAAP Information These slides should be read in conjunction with our most recent quarterly earnings press release, along with listening to or reading a transcript of management comments from our most recent quarterly earnings conference call. Thi ...

Maximus, Inc. (MMS) reported mixed fourth-quarter fiscal 2024 results. Earnings marginally missed the Zacks Consensus Estimate, but revenues beat the Zacks Consensus Estimate.Quarterly adjusted earnings of $1.46 per share marginally lagged the Zacks Consensus Estimate but increased 13.2% on a year-over-year basis. Revenues of $1.32 billion beat the consensus mark by 1.8% and rose 4.4% from the year-ago quarter.Segmental Revenues of MaximusThe U.S. Federal Services segment’s revenues of $675 million rose 9.4 ...

Core Insights - Maximus reported revenue of $1.32 billion for the quarter ended September 2024, reflecting a year-over-year increase of 4.4% and a surprise of +1.77% over the Zacks Consensus Estimate of $1.29 billion [1] - The earnings per share (EPS) for the quarter was $1.46, compared to $1.29 in the same quarter last year, although it fell short of the consensus EPS estimate of $1.47 by -0.68% [1] Revenue Breakdown - Revenue from U.S. Federal Services was $675.12 million, exceeding the average estimate of $661 million by two analysts, representing a year-over-year increase of +9.4% [3] - Revenue from U.S. Services was $463.56 million, slightly below the estimated $473.37 million, indicating a year-over-year decline of -2.2% [3] - Revenue from outside the U.S. reached $177.20 million, surpassing the average estimate of $158.65 million, with a year-over-year growth of +5% [3] Stock Performance - Over the past month, Maximus shares have decreased by -8.4%, contrasting with the Zacks S&P 500 composite's increase of +1% [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Maximus (MMS) came out with quarterly earnings of $1.46 per share, missing the Zacks Consensus Estimate of $1.47 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.68%. A quarter ago, it was expected that this government health services provider would post earnings of $1.47 per share when it actually produced earnings of $1.74, delivering a surprise of 18.37%.Over the last four qua ...

Revenue and Growth - Full year revenue increased 8.2% to $5.31 billion, with organic growth of 8.8% driven by higher volumes in key U.S. programs[2] - U.S. Federal Services Segment revenue increased 13.9% to $2.74 billion, all organic growth driven by clinical program volume[8] - U.S. Services Segment revenue increased 5.5% to $1.91 billion, with strong performance across the Medicaid-related portfolio[10] - Outside the U.S. Segment revenue decreased 4.6% to $657.1 million, impacted by prior-year divestitures[12] - Revenue for the three months ended September 30, 2024, was $1,315,870, an increase of 4.4% from $1,259,953 in 2023[35] - Revenue for 2024 reached $1,315,870, an increase from $1,259,953 in 2023, representing a growth of approximately 4.4%[42] - U.S. Federal Services revenue increased to $675,117 in 2024 from $617,404 in 2023, a growth of approximately 9.3%[42] Earnings and Profitability - Full year diluted earnings per share were $4.99, and adjusted diluted earnings per share were $6.11, compared to $2.63 and $3.83 for the prior year[6] - Net income for the year ended September 30, 2024, reached $306,914, compared to $161,792 in 2023, representing an increase of 89.5%[35] - Basic earnings per share for the three months ended September 30, 2024, was $1.20, up from $0.97 in 2023, reflecting a growth of 23.7%[35] - Operating income for the year ended September 30, 2024, was $488,499, compared to $294,794 in 2023, marking a 65.7% increase[35] - Gross profit for 2024 was $301,695, with a gross margin of 22.9%, compared to $290,894 and a margin of 23.1% in 2023[42] - Operating income for 2024 was $111,756, reflecting an operating margin of 8.5%, up from $99,124 and 7.9% in 2023[48] - Net income for 2024 was $72,504, an increase from $59,146 in 2023, representing a growth of approximately 22.6%[49] - Diluted earnings per share for 2024 were $1.19, compared to $0.96 in 2023, marking an increase of approximately 24.0%[49] Cash Flow and Financial Position - Cash flows from operating activities totaled $515 million, and free cash flow was $401 million, compared to $314 million and $224 million in the prior year[19] - Cash flows from operating activities for the year ended September 30, 2024, were $515,258, compared to $314,340 in 2023, an increase of 64.1%[40] - Free cash flow for fiscal year 2025 is expected to range between $345 million and $375 million[23] - Free cash flow for 2024 was $131,881, compared to $112,757 in 2023, indicating a growth of approximately 16.9%[46] - Cash and cash equivalents increased to $183,123 in 2024 from $65,405 in 2023, showing a significant rise of 179.5%[38] - Total assets as of September 30, 2024, were $4,131,508, an increase from $3,985,797 in 2023, indicating a growth of 3.7%[38] - Total liabilities decreased to $2,288,693 in 2024 from $2,317,962 in 2023, a reduction of 1.3%[38] Future Outlook - The sales pipeline at September 30, 2024, was $54.3 billion, with new work opportunities representing approximately 48% of the total[15] - Backlog at September 30, 2024, was estimated to be $16.2 billion, down from $20.7 billion at the same point in the prior year[16] - Fiscal year 2025 revenue guidance is expected to range between $5.275 billion and $5.425 billion, with an adjusted EBITDA margin of approximately 11.0%[22] - The company plans to continue focusing on market expansion and new product development to drive future growth[43] Expenses and Amortization - The company reported a decrease in amortization of intangible assets to $91,570 for the year ended September 30, 2024, down from $94,591 in 2023[35] - The company reported a decrease in selling, general, and administrative expenses as a percentage of revenue, from 13.3% in 2023 to 12.7% in 2024[42] Dividends - Dividends declared per share increased to $0.30 in 2024 from $0.28 in 2023, representing a growth of 7.1%[35]