MAXIMUS (NYSE: MMS) reported Q3 EPS of $0.91, $0.09 better than the analyst estimate of $0.82. Revenue for the quarter came in at $597.9 million versus the consensus estimate of $591.66 million.

• Revenue of $597.9 million compared to $600.4 million reported for the same period last year
• Diluted earnings per share of $0.91 compared to $0.86 for the same period last year
• Cash flows from operations of $72.5 million and free cash flow of $64.1 million
• Year-to-date signed contract awards of $2.0 billion and contracts pending (awarded but unsigned) of $779.4 million at June 30, 2018
• Sales pipeline of $2.9 billion at June 30, 2018
• An expansion of the Company's share repurchase program of up to $200 million and the purchase of 995,000 shares in the quarter
• Today, the Company announced a significant increase to the quarterly cash dividend from the current payout of $0.045 per share to $0.25 per share, which is a yield of approximately 1.5%, effective November 2018.

Bruce Caswell, President and Chief Executive Officer of MAXIMUS, commented, "With several recent new wins and new programs in the start-up phase, we are focused on excellent execution and strong cash generation, driving innovation through digital solutions to simplify citizen engagement with critical programs and effectively balancing resources in geographies where full employment has reduced volumes in certain programs we operate. We have made meaningful progress on our strategic initiatives and execution against our long-term plan. As with any guiding strategy, it will continue to evolve so that we can meet the needs of our clients and capitalize on emerging opportunities."

GUIDANCE:

MAXIMUS sees FY2018 EPS of $3.30-$3.40, versus the consensus of $3.34. MAXIMUS sees FY2018 revenue of $2.4-2.44 billion, versus the consensus of $2.42 billion.

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