MAXIMUS (NYSE: MMS) reported Q4 EPS of $1.29, $0.16 better than the analyst estimate of $1.13. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.27 billion.

Fiscal Year 2024 Outlook

Maximus is establishing fiscal year 2024 guidance. The company expects revenue to range between $5.05 billion and $5.2 billion, versus the consensus of $4.912 billion. Adjusted operating income is expected to range between $488 million and $513 million, which excludes an estimated $88 million of expense for amortization of intangible assets. Adjusted diluted earnings per share is expected to range between $5.05 and $5.35 per share, versus the consensus of $3.84.

The midpoint of revenue guidance implies organic growth of approximately 5% over fiscal year 2023. The midpoint of adjusted operating income implies an adjusted operating margin of 9.8% as compared to the midpoint of revenue guidance.

Free cash flow is expected to range between $290 million and $340 million for fiscal year 2024. The company forecasts interest expense of approximately $70 million, an effective income tax rate between 24.5% and 25.5%, and weighted average shares outstanding between 62.2 million and 62.3 million shares for fiscal year 2024.

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