Maximus Q2 FY2023 EPS down; reaffirms FY guidance; debt reduced $275M

MAXIMUS, INC.

2023-Q2 EPS reported $1.17 revenue$2,456,098,000

Q2 revenue $1.21B (+2.5% YoY); diluted EPS $0.52, adjusted EPS $0.80 (vs $0.80 and $1.07 prior year).
Operating cash flow $309.7M, free cash flow $291.6M; repaid $275M debt; net debt/EBITDA improved to 2.5x.
Reaffirmed FY23 guidance: revenue $4.85B-$5.0B; adjusted EPS $4.00-$4.30; divested two small non-core businesses.
U.S. Services margin 9.5% (down YoY) due to paused Medicaid redeterminations; expects ramp in Q3/Q4.
Outside the U.S. segment revenue -16% to $173M, operating loss $3.7M; guidance for segment margin lowered to 1-3%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MAXIMUS, INC. reported the three and six months ended March 31, 2023 results: revenue $1.21 billion, EPS $0.52. Guidance reaffirmed.

Period: the three and six months ended March 31, 2023
Revenue: $1.21 billion
EPS: $0.52
Guidance: reaffirmed
Result: reported results

Exact text from the filing

reported financial results for the three and six months ended March 31, 2023. Highlights for the second quarter of fiscal year 2023 include: • Revenue increased 2.5% to $1.21 billion, compared to $1.18 billion for the prior year period. Organic growth was 3.9% and driven by new or expanded programs in the U.S. segments. • Diluted earnings per share were

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accession 0001032220-23-000042

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