Inferra AI / Company / MMS

Maximus, Inc.

MMS · Industrials

Last earnings Aug 6, 2026

Key results

EPSquarter

$1.80

Diluted earnings per share were $1.80 and adjusted diluted earnings per share were $2.07, compared to $1.69 and $2.01, respectively, for the prior year period.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Adjusted EPSquarter

$2.07

Diluted earnings per share were $1.80 and adjusted diluted earnings per share were $2.07, compared to $1.69 and $2.01, respectively, for the prior year period.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Revenuequarter

$1.36 billion

Prior year period revenue was $1.36 billion and benefited from natural disaster support work and temporary clinical volume surges in both domestic segments.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Operating marginfull-year

11.4%

For the second quarter of fiscal year 2026, operating margin was 11.4% and adjusted EBITDA margin was 14.4%.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Operating marginquarter

14.4%

For the second quarter of fiscal year 2026, operating margin was 11.4% and adjusted EBITDA margin was 14.4%.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Diluted earnings per share were $1.80, and adjusted diluted earnings per share were $2.07.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Operating incomequarter

$6.9 million

Services segment's operating income by $6.9 million, or $0.09 per share, and a discrete research development tax benefit that reduced the income tax expense by $4.2 million, which equated to a $0.08 per share benefit.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Federal Services Segment revenuefull-year

$753 million

Federal Services Segment revenue for the second quarter of fiscal year 2026 was $753 million.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Prior year period revenue was $778 million and benefited from natural disaster support.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

The segment operating margin for the second quarter of fiscal year 2026 was 17.6%, compared to 15.3% reported for the prior year period.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Gross marginquarter

$342,264 thousand

Gross profit 342,264 338,821 660,934 640,378

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Selling, general, and administrativequarter

$173,479 thousand

Selling, general, and administrative expenses 173,479 162,857 325,639 354,592

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Net incomequarter

$98,063 thousand

Net income $ 98,063 $ 96,569 $ 192,006 $ 137,765

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

AI analysis

Q2 FY2026 · reported May 7, 2026

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q2 FY2026

$1.36B

EX-99 · May 7, 2026

EPS · Q2 FY2026

$1.80

EX-99 · May 7, 2026

Net income · Q2 FY2026

$98,063 thousand

EX-99 · May 7, 2026

Operating income · Q2 FY2026

$6.9M

EX-99 · May 7, 2026

The quarter in charts

Guidance ladder — revenue

Delivered vs the company's guided range

Q2 FY2026 delivered$1.36B

Guided range (company-stated)$5.2B · midpoint $5.2B

0$B

EX-99 · May 7, 2026 Guide as stated by the company; range and midpoint computed from the stated figure.

Headline figures

Metric	Q2 FY2026	Prior qtr	Year ago
EPS	$1.80	—	—
Adjusted EPS	$2.07	—	—
Revenue	$1.36 billion	—	—
Operating margin	14.4%	—	—
Operating income	$6.9 million	—	—
Gross margin	$342,264 thousand	—	—
Selling, general, and administrative	$173,479 thousand	—	—
Net income	$98,063 thousand	—	—

EX-99 · May 7, 2026

Guidance · company-stated

Direction: Raised

Company outlook

“com Date May 7, 2026 Maximus Reports Fiscal Year 2026 Second Quarter Results Raises earnings outlook and announces $400 million share repurchase program (Tysons, Va.”

EPS

“Guidance for adjusted diluted earnings per share increases by $0.20 and is now expected to range between $8.25 and $8.55 per share for fiscal year 2026.”

Revenue$5.2 billion

“guidance is maintained between $5.2 billion and $5.35 billion, and free cash flow guidance is maintained between $450 million and $500 million for fiscal year 2026.”

Margin — Raised

“Our second consecutive earnings guidance increase reflects growing confidence in our ability to leverage in-house AI and other technology capabilities to improve efficiency and support margin expansion.”

Midpoint vs latest-quarter revenue+282.4%computed from stated figures

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating marginfull year11.4%

Operating margin14.4%

Gross margin$342,264 thousand

Capital allocation

Dividend$0.33

com Date May 7, 2026 Maximus Reports Fiscal Year 2026 Second Quarter Results Raises earnings outlook and announces $400 million share repurchase program (Tysons, Va.

What changed vs last quarter

Guide midpoint vs latest-quarter revenue +282.4% computed from stated figures

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

- May 7, 2026 ) - Maximus (NYSE MMS), a leading provider of government services, reported financial results for the three and six months ended March 31, 2026

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Company outlook: “com Date May 7, 2026 Maximus Reports Fiscal Year 2026 Second Quarter Results Raises earnings outlook and announces $400 million share repurchase program (Tysons, Va.”

EPS: “Guidance for adjusted diluted earnings per share increases by $0.20 and is now expected to range between $8.25 and $8.55 per share for fiscal year 2026.”

Revenue: “Revenue guidance is maintained between $5.2 billion and $5.35 billion, and free cash flow guidance is maintained between $450 million and $500 million for fiscal year 2026.”

Company outlook — Raised (“Raises”)
“com Date May 7, 2026 Maximus Reports Fiscal Year 2026 Second Quarter Results Raises earnings outlook and announces $400 million share repurchase program (Tysons, Va.”

Revenue — Reiterated (“reiterating”)
“We are reiterating previous fiscal year 2026 revenue and free cash flow guidance.”

Margin — Raised (“increase”)
“Our second consecutive earnings guidance increase reflects growing confidence in our ability to leverage in-house AI and other technology capabilities to improve efficiency and support margin expansion.”

Company outlook — Raised (“increase”)
“We expect collections to increase in the second half of fiscal year 2026, which supports our full-year free cash flow guidance.”

Revenue — Raised (“Raise”)
“Fiscal Year 2026 Earnings Guidance Raise Maximus is raising fiscal year 2026 earnings guidance and reiterating revenue and free cash flow guidance.”

EPS — Raised (“increases”)
“Guidance for adjusted diluted earnings per share increases by $0.20 and is now expected to range between $8.25 and $8.55 per share for fiscal year 2026.”

Revenue — Reiterated (“maintained”)
“Revenue guidance is maintained between $5.2 billion and $5.35 billion, and free cash flow guidance is maintained between $450 million and $500 million for fiscal year 2026.”

Classified from the release's primary full-year outlook statement.

Capital allocation

com Date May 7, 2026 Maximus Reports Fiscal Year 2026 Second Quarter Results Raises earnings outlook and announces $400 million share repurchase program (Tysons, Va.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Repurchases of Maximus common stock in the quarter totaled 1.4 million shares for $111 million, with an additional 0.6 million shares totaling $39.9 million repurchased through May 1, 2026.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

The Board of Directors authorized a refresh to the repurchase program for Maximus common stock up to an aggregate of $400 million.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

A quarterly cash dividend of $0.33 per share is payable on June 1, 2026, to shareholders of record on May 15, 2026.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

We continue to execute our capital deployment strategy, as highlighted by the refresh of our share repurchase authorization up to an aggregate of $400 million, said Bruce Caswell, President and Chief Executive Officer.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Balance Sheet and Cash Flows At March 31, 2026, unrestricted cash and cash equivalents totaled $157 million, and gross debt was $1.55 billion.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Strategy & priorities

Our second consecutive earnings guidance increase reflects growing confidence in our ability to leverage in-house AI and other technology capabilities to improve efficiency and support margin expansion.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Technology initiatives, including automation that enables greater volume processing without a commensurate increase in labor costs, were the primary driver of the improved margin and the increase to the segment s full fiscal year margin expectation.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

About Maximus As a leading strategic partner to government, Maximus helps improve the delivery of public services amid complex technology, health, economic, and social challenges.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Forward-looking statements can be identified by words such as 3 anticipate, intend, plan, goal, seek, on track, opportunity, could, potential, believe, project, estimate, expect, continue, forecast, strategy, future, likely, may, should, will, and similar references to future periods.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Risks & headwinds

Caswell continued, Our state customers are gaining clarity and beginning to take action to help address challenges with Medicaid community engagement, SNAP administration, and unemployment insurance support services.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

About Maximus As a leading strategic partner to government, Maximus helps improve the delivery of public services amid complex technology, health, economic, and social challenges.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Forward-looking statements that are not historical facts, including statements about our confidence, strategies and initiatives, guidance and expectations about revenues, results of operations, profitability, future contracts, liquidity, market opportunities, market demand, acceptance of our products and service offerings, or acquisitions and divestitures, are forward-looking statements that involve risks and uncertainties.

SEC original ↗Maximus, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Legal Proceedings 37 Item 1A.

SEC original ↗Maximus, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Any statements herein that are not historical facts, including statements about our confidence, strategies and initiatives, and our expectations about revenues, results of operations, profitability, future contracts, liquidity, market opportunities, market dema nd, acceptance of our products and service offerings, or acquisitio ns and divestitures, are forward-looking statements that are subject to risks and uncertainties.

SEC original ↗Maximus, Inc. — 10-Q Quarterly report10-QAug 6, 2026

By moving people, technology, and government forward, Maximus helps improve the delivery of public services for more than 100 million American citizens amid complex technological, health, economic, and social challenges.

SEC original ↗Maximus, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Documents

Earnings deck slides

0 decks with slide view

Maximus, Inc. — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

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