MAXIMUS (NYSE: MMS) reported Q1 EPS of $0.91, in-line with the analyst estimate of $0.91. Revenue for the quarter came in at $818.2 million versus the consensus estimate of $795.66 million.

• Revenue grew to $818.2 million compared to $664.6 million reported for the same period last year driven by the U.S. Federal Services and the U.S. Health & Human Services Segments
• Diluted earnings per share were $0.91 and slightly better than Company expectations
• Cash flows from operations of $87.3 million and free cash flow of $76.8 million
• Year-to-date signed contract awards totaled approximately $177 million and contracts pending (awarded but unsigned) of $440 million at December 31, 2019
• Sales pipeline of $30.6 billion at December 31, 2019, of which 69% is new work

Bruce Caswell, President and Chief Executive Officer of MAXIMUS, commented, "MAXIMUS delivered solid first quarter results driven by top-line growth in our U.S. operations. We continue to progress our strategic plan to lead a digital transformation, grow our clinically related services, and expand in priority markets and adjacencies. M&A remains at the heart of our capital deployment initiatives with the aim to supplement our current capabilities, build scale and create new growth platforms in markets with strong long-term fundamentals that enable us to build enduring, sustainable organic growth."

GUIDANCE:

MAXIMUS sees FY2020 EPS of $3.95-$4.15, versus the consensus of $4.01. MAXIMUS sees FY2020 revenue of $3.15-3.3 billion, versus the consensus of $3.21 billion.

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