Welcome to our dedicated page for MAXIMUS news (Ticker: MMS), a resource for investors and traders seeking the latest updates and insights on MAXIMUS stock.
Maximus, Inc. (MMS) has been a leader in providing business process and technology solutions since 1975, with a mission of 'helping government serve the people.' Employing over 16,000 professionals, Maximus operates across North America, Australia, the United Kingdom, and Saudi Arabia, delivering high-quality services to government agencies.
The company is renowned for its expertise in managing government health and human services programs. It plays a pivotal role in enhancing the efficiency, cost-effectiveness, and quality of government-sponsored benefit programs, including Medicaid, Medicare, Health Insurance BC, and child support programs. A substantial portion of Maximus' revenue is derived from long-term contractual agreements with global governments, with the U.S. Federal Services segment being the largest contributor.
In recent achievements, Maximus has demonstrated its commitment to social responsibility through various community service projects. For instance, during GivingTuesday, Maximus employees volunteered their time and resources to support the Catherine McAuley Center, helping women and children transition from homelessness to independent living. This initiative is part of a broader effort led by the Maximus Foundation, an independent nonprofit organization established by the Maximus Board of Directors in 2000.
The Maximus Foundation focuses on grantmaking and corporate-wide humanitarian efforts, empowering employees to make a difference in their communities. Employee donors pool their charitable contributions through the Foundation, which doubles their impact via Maximus' dollar-for-dollar matching pledge. This commitment to social good is evident in the support provided to initiatives like the Atlanta Mission, which addresses homelessness by offering comprehensive services to individuals and families in need.
With a forward-looking approach, Maximus continues to innovate and expand its impact. The Foundation's 2023 Annual Report highlights a year of significant achievements and looks ahead to new grantmaking strategies for 2025, aiming for a more equitable and inclusive future. Through its dedicated efforts, Maximus not only serves government clients but also plays a crucial role in improving the overall wellbeing of communities worldwide.
Stay updated with the latest developments, projects, and news from Maximus by visiting their official website and following their social media channels.
Maximus (NYSE: MMS) reported strong financial results for fiscal year 2024, with revenue increasing 8.2% to $5.31 billion. Full year diluted earnings per share reached $4.99, with adjusted EPS at $6.11. The company demonstrated solid organic growth of 8.8%, driven by higher volumes in U.S. segments. Operating margin improved to 9.2%, with adjusted EBITDA margin at 11.6%. Cash flows from operations totaled $515 million, with free cash flow of $401 million. The company announced fiscal 2025 guidance with revenue expected between $5.275-$5.425 billion and adjusted diluted EPS of $5.70-$6.00.
Maximus showcases its commitment to Veterans through its VETS Employee Resource Group (ERG), featuring interviews with key members. The ERG supports Veterans' transition to civilian careers and military families. The company has received multiple recognitions in 2024, including listings on the Military Times Best for Vets: Employers and Military.com Best Military Spouse Employer lists, along with several Military Friendly® awards. The podcast 'ERGs Unplugged' highlights members' experiences, including Keith Egelston (retired Air Force Veteran and ERG President), Erik Laube (Air Force Veteran), and Kristen Eldridge (military family member).
Maximus (NYSE: MMS) has filed a lawsuit in the U.S. Court of Federal Claims challenging the rebid of the 1-800-MEDICARE and Federal Marketplace contract. Despite 95% customer satisfaction and exceeding performance metrics, CMS is rebidding the contract only two years into its nine-year term, requiring a labor harmony agreement. The lawsuit follows GAO's September 2024 ruling that partially sustained Maximus' pre-award protest. CMS has exercised the contract's third option year through September 2025, acknowledging Maximus' service quality. During recent hurricanes, Maximus maintained operations, handling over 190,000 calls without impacting wait times while protecting affected employees' pay.
A team of Maximus employees volunteered at the Ronald McDonald House in Richmond, Virginia, preparing meals for families with children receiving medical care at nearby hospitals. Volunteers Kristy Jones and Brandi Goode shared their experiences helping local families, including supporting a mother whose daughter needed urgent heart surgery. The initiative aligns with Maximus's role in Virginia's Cardinal Care Program, which provides healthcare coverage to over a million Virginians including children, pregnant women, adults, and people with disabilities.
Maximus (NYSE: MMS) has been awarded a spot on a $300 million Blanket Purchase Agreement (BPA) with the Internal Revenue Service (IRS) for Non-IT Consulting Services. The multiple-award BPA has a five-year period of performance and allows Maximus to compete for task orders. Services include Strategic Planning, Strategy Initiatives, Business Process Improvement, Regulatory Compliance, Concept of Operations (CONOPS), and Program Integration Support across the Taxpayer Services Organization.
The BPA focuses on developing operational plans aligned with the IRS Strategic Plan through 2031. Maximus, with its 30-year history of supporting the IRS, will assist in identifying, developing, and implementing the agency's modernization needs and improving services to taxpayers. This agreement expands Maximus' role to directly support the business organization at the IRS, driving greater business value and continuous improvement of the taxpayer experience.
Maximus has been recognized on Indeed's 2024 Work Wellbeing 100 list, which highlights top public companies with highly-rated wellness programs. The list was compiled based on a survey of approximately one million employees, conducted in partnership with the University of Oxford Wellbeing Research Centre.
Michelle Link, Chief Human Resources Officer at Maximus, emphasized the company's commitment to employee wellbeing, noting its positive impact on employee happiness, retention, and overall business success. Since 2022, Maximus has introduced several new health and wellness initiatives, including:
- Bloom digital physical therapy for women's pelvic floor health
- Building Healthy Families program with financial incentives for pregnant employees
- Wellbeing Coach Total offering personalized guidance and a digital app
- LiveHealth Online Coaching for weight management, blood pressure control, and tobacco cessation
These programs are part of Maximus' ongoing efforts to enhance employee benefits and support overall wellbeing.
Maximus (NYSE: MMS), a leading global provider of government services, has announced its schedule for the Fiscal 2024 Fourth Quarter and Year End Conference Call. The company will release its financial results for the three months and year ended September 30, 2024, after market close on Wednesday, November 20. A conference call will follow on Thursday, November 21, at 9:00 a.m. ET.
Shareholders are invited to submit questions for management by emailing IR@maximus.com up to one hour before the call. The call is open to the public and can be accessed via webcast or phone. For those unable to attend live, a recording of the webcast will be available on investor.maximus.com.
Maximus has released its 2023 Employee Engagement and Company Culture report, highlighting significant achievements in evolving and strengthening its workplace culture. Key points include:
- A 5% increase in the overall favorable engagement index from 2022 to 2023
- Implementation of the Moving Our Talent Forward initiative to support employee skill development and career mobility
- Launch of Continuous Performance Management and a tuition reimbursement program
- Adoption of generative AI tools by the Corporate Communications team
- Success of Maximus' social media advocacy program
- Introduction of the inaugural Values Icon Awards
The company remains committed to creating a positive, engaging, and inclusive work environment, focusing on values such as accountability, collaboration, compassion, customer focus, innovation, and respect.
Maximus (NYSE: MMS), a global leader in government services, has announced a quarterly cash dividend of $0.30 per share. The dividend was approved by the company's Board of Directors on October 5, 2024. Shareholders of record as of November 15, 2024, will be eligible to receive the dividend, which is scheduled for payment on November 30, 2024. This announcement demonstrates Maximus's commitment to returning value to its shareholders through regular dividend distributions.
Maximus's internal diversity, equity, and inclusion (DE&I) podcast, ERGs Unplugged, released its fifth episode featuring members of ¡MÁXIMO, the company's Hispanic/Latinx Employee Resource Group (ERG). Three members shared their experiences:
Luz Castillo, a first-generation immigrant, found the ERG vital for connecting with colleagues of similar backgrounds and navigating corporate America. Jesse Rodriguez, a member and co-chair, felt more connected during remote work, meeting new colleagues across the company. Gisella Lamkin, an 18-year Maximus employee, continues to learn and gain a sense of belonging through the ERG.
The podcast highlights the importance of ERGs in fostering inclusivity and professional growth at Maximus. For more information on Maximus's commitment to DE&I, visit Maximus.com/DEI.
FAQ
What is the current stock price of MAXIMUS (MMS)?
What is the market cap of MAXIMUS (MMS)?
What services does Maximus, Inc. provide?
In which countries does Maximus operate?
What is the mission of Maximus, Inc.?
What is the Maximus Foundation?
How does Maximus support the community?
What are some recent projects by Maximus?
How does Maximus generate most of its revenue?
How many employees does Maximus have?
What recent achievements has Maximus made?
Where can I find more information about Maximus' initiatives?
