Maximus Q2 revenue up 11.7% to $1.35B, adjusted EPS $1.57; raises FY24 guidance

MAXIMUS, INC.

2024-Q2 EPS reported $2.35 revenue$2,675,398,000

Revenue $1.35B (+11.7% YoY); organic growth 12.6%; adjusted EPS $1.57 vs $0.81 prior year.
Raises FY24 guidance: revenue midpoint +$75M to $5.20B; adjusted EPS now $5.65-$5.85 (+$0.40).
U.S. Federal Services revenue +20.1% to $701.7M, operating margin 11.9%; VA MDE contracts exceeded production goals.
U.S. Services segment margin 14.0% (peak from Medicaid redeterminations); FY24 margin outlook ~13%.
Quarterly dividend $0.30/share payable May 31; net debt/EBITDA improved to 1.7x; repurchased 242k shares for $19.3M post-quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

MAXIMUS, INC. reported three months ended March 31, 2024 results: revenue $1.35 billion, EPS $1.31. Guidance raised.

Period: three months ended March 31, 2024
Revenue: $1.35 billion
EPS: $1.31
Guidance: raised
Result: reported results

Exact text from the filing

reported financial results for the three and six months ended March 31, 2024. Highlights for the second quarter of fiscal year 2024 include: • Revenue increased 11.7% to $1.35 billion, compared to $1.21 billion for the prior year period. Organic growth was 12.6% and driven by expanded programs in the domestic segments and resumed Medicaid-related activities. •

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Source: SEC EDGAR

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