MAXIMUS (MMS) Tops Q3 EPS by 4c; Issues Mixed Outlook

MAXIMUS (NYSE: MMS) reported Q3 EPS of $0.75, ex-items, $0.04 better than the analyst estimate of $0.71. Revenue for the quarter came in at $617.1 million versus the consensus estimate of $625.62 million.

"Overall, we are pleased with the performance of the portfolio, led by the strong performance of the Health Services Segment," commented MAXIMUS CEO Richard A. Montoni.

Montoni continued, “During the quarter, MAXIMUS was awarded the Part A West Medicare Appeals contract, won a key rebid for pre-admission screening and resident review services for the State of Tennessee, and expanded our footprint with a new contact center for health-related services in New York. We remain keenly focused on helping our government clients run effective and efficient programs, delivering high-quality services to program participants, and meeting our contractual obligations. Demand for our services remains strong and we continue to see industry trends that complement our core capabilities and serve as markers for long-term growth opportunities."

GUIDANCE:

MAXIMUS sees FY2016 EPS of $2.60-$2.70, versus prior guidance of $2.50-$2.70 and the consensus of $2.62. MAXIMUS sees FY2016 revenue of $2.375-2.4 billion, versus prior guidance of $2.4-2.5 billion and the consensus of $2.43 billion.

For earnings history and earnings-related data on MAXIMUS (MMS) click here.

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