MAXIMUS (NYSE: MMS) reported Q1 EPS of $0.86, $0.06 better than the analyst estimate of $0.80. Revenue for the quarter came in at $664.6 million versus the consensus estimate of $672.09 million.

• Revenue grew 7% to $664.6 million compared to $623.1 million reported for the same period last year, driven by the citizen engagement center acquisition in the U.S. Federal Services Segment
• Diluted earnings per share of $0.86 were better-than-expected due to strong operational delivery in the U.S. Health and Human Services Segment
• Cash flows from operations of $59.3 million and free cash flow of $53.9 million
• Year-to-date signed contract awards of approximately $224 million and contracts pending (awarded but unsigned) of approximately $743 million at December 31, 2018
• Sales pipeline of $19.9 billion at December 31, 2018, of which 78% is new work
• Purchased 650,000 shares of MAXIMUS common stock for a total cost of $41.3 million for an average price of $63.52

Bruce Caswell, President and Chief Executive Officer of MAXIMUS, commented, "MAXIMUS delivered solid first quarter results with good performance, most notably in our U.S. Health and Human Services Segment. We continue to make meaningful progress as we transform the customer experience with digital tools, expand our clinical-related services and extend our reach into new markets and customer areas."

GUIDANCE:

MAXIMUS sees FY2019 EPS of $3.55-$3.75, versus the consensus of $3.65. MAXIMUS sees FY2019 revenue of $2.925-3 billion, versus the consensus of $2.95 billion.

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