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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 record revenue of $1.24 billion for Q3 FY2021, a 38% increase year-over-year, fueled by COVID-19 response initiatives. The operating income margin improved to 11.2%, with diluted EPS at $1.51. The company raised its FY2021 revenue forecast to $4.2-$4.25 billion and EPS to $4.65-$4.75 due to strong performance. Notably, COVID-19 related services contributed approximately $460 million for Q3. A quarterly dividend of $0.28 per share was declared, payable August 31, 2021.
Maximus (NYSE: MMS) has secured two contracts totaling $151 million from the IRS, reinforcing a partnership that dates back to 1991. The first contract, valued at $76 million, will enhance Masterfile System Programming Support Services, including the implementation of the American Recovery Plan. The second $75 million contract focuses on Technology Integration Office support, including a pivotal shift to cloud infrastructure. This collaboration aims to support over 160 million individual taxpayers and improve IRS technology.
Maximus (NYSE: MMS) will release its financial results for the three and nine months ended June 30, 2021, on August 5, 2021, at 6:30 a.m. ET. A conference call will follow at 9:00 a.m. ET, accessible via webcast or by phone. Maximus, since 1975, has focused on Helping Government Serve the People® through business process management solutions for government agencies worldwide. The company employs over 34,000 individuals across various countries.
Maximus (NYSE: MMS) has declared a quarterly cash dividend of $0.28 per share, set to be paid on August 31, 2021. Shareholders of record as of August 13, 2021 will receive this dividend, reflecting the company's ongoing commitment to returning value to its investors. Maximus, founded in 1975, provides vital government services globally, focusing on enhancing government program outcomes and operational efficiency. With a workforce exceeding 34,000, the company serves multiple countries including the US, UK, and Australia.
Maximus (NYSE: MMS) clarifies confusion surrounding its identity, as some media outlets mistakenly report it as a privately-held Canadian agriculture technology firm. This error follows Ingersoll Rand's (NYSE: IR) announcement of an acquisition involving the Canadian company. Maximus has been delivering government services globally since 1975, focusing on enhancing citizen engagement with government agencies. It operates with over 34,000 employees across multiple countries, aiming to improve government program outcomes.
Maximus (NYSE: MMS) has completed its acquisition of Veterans Evaluation Services, Inc. (VES), enhancing its government services portfolio. This strategic move allows Maximus to expand its independent clinical assessments business at the Federal level, particularly with the U.S. Department of Veterans Affairs (VA). The acquisition, funded by $1.1 billion and $400 million term loans, is expected to contribute $160M to $175M in revenue over the next four months, although it may slightly dilute earnings per share initially. Long-term, the acquisition aims to bolster Maximus's position in health and disability assessments.
Maximus (NYSE: MMS) has partnered with CNSI to provide operation services for Medicaid Management Information System (MMIS) claims processing and management services. This collaboration, part of the National Association of State Procurement Officials (NASPO) cooperative contracts, aims to enhance operational effectiveness for state health programs. Maximus will assist with claims adjudication using CNSI’s evoBrix X™ platform and deliver call center services to Medicaid members and providers. The partnership highlights both organizations' commitment to improving service delivery within government programs.
Maximus (NYSE: MMS) reported a 17.3% revenue increase to $959.3 million for Q2 FY2021, driven largely by COVID-19 response initiatives. Operating income was $113 million with an 11.8% margin. The company raised its fiscal 2021 guidance, projecting revenues between $4.0 billion and $4.2 billion and EPS of $4.20 to $4.40, including contributions from recent acquisitions. The U.S. Services Segment experienced a 45% revenue boost, while the U.S. Federal Services Segment's revenue declined due to the Census contract. A quarterly dividend of $0.28 per share is scheduled for May 28, 2021.
Maximus (NYSE: MMS) will release its financial results for the three and six months ended March 31, 2021, on May 6, 2021, at 6:30 a.m. ET. A conference call will follow at 9:00 a.m. ET, which is accessible via webcast or phone. The company, established in 1975, specializes in government services, ensuring that citizens effectively engage with various health and human services programs. Maximus operates globally with a workforce exceeding 34,000 employees, partnering with agencies in multiple countries.
Maximus (NYSE: MMS) has announced that its UK subsidiary secured two significant contracts to deliver the Restart program across various regions in the UK, valued at over $960 million USD (£690 million GBP) for four years. This program aims to provide tailored support for long-term unemployed individuals as part of the UK Government's Plan for Jobs. Maximus will invest over £10 million (USD 13 million) into community organizations to enhance services. The company plans to recruit over 1,500 people to support this initiative, solidifying its position as a key employment support provider.
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