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), a global leader in government services, announced that its Board of Directors has authorized an expansion of the company's stock repurchase program, adding up to $200 million. This new authorization includes the remaining $6 million from the existing program. Maximus plans to buy back shares based on market conditions and corporate needs. The company has already repurchased 538,978 shares for approximately $44.5 million since March 31, 2024. CEO Bruce Caswell emphasized that this move aligns with the company's disciplined capital allocation strategy aimed at benefiting shareholders.
Maximus (NYSE: MMS) announced that the Maximus Foundation will issue over $2 million in grants to 209 nonprofit organizations nationwide. Each nonprofit will receive $10,000 to advance community development, youth programs, and healthcare services. The Foundation, established in 2000, has awarded over $15 million in total grants to date. Starting in 2025, the Foundation will shift from annual to multi-year, unrestricted grants, focusing initially on food insecurity and food equity. This strategic change aims to provide more stability and capacity for nonprofits.
Maximus highlighted its commitment to diversity, equity, and inclusion (DE&I) during Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month through its ERGs Unplugged podcast series. The second episode featured AANHPI ERG members Joanne Ruan, Dominic Augustine, and Sara-Grace Chan sharing their personal stories and insights with DE&I Manager Jesenia Gonzalez. The AANHPI ERG aims to cultivate a culture of belonging, nurture leadership potential, and support diversity within the organization.
For more information, visit Maximus' DE&I page on their website.
Maximus has been recognized as a 5 Star Employer in the 2024 VETS Indexes Employer Awards. This is the third consecutive year they have received this honor for their commitment to supporting veterans and the military-connected community. The recognition underscores Maximus' dedication to recruiting, hiring, retaining, and developing military veterans and their families, fostering an inclusive workplace that values their unique skills and experiences. George Altman, president of VETS Indexes, highlighted the competitive nature of the awards this year, with Maximus' veterans program standing out among hundreds of employers. For more on Maximus' commitment, refer to their 2023 Sustainability Report.
MaximusBright Beginnings supports under-resourced infants, toddlers, and families experiencing housing instability in Washington, D.C. through early childhood education, family services, and a nurturing environment. The organization addresses the increase in homelessness, linking it to health issues, and provides tailored services to break the cycle of poverty. With a two-generation approach, Bright Beginnings offers resources to parents and children, focusing on stability and future security. A grant from the Maximus Foundation has helped over 380 children and families, expanding services and delivering quality care. Bright Beginnings has a 30-year history of supporting families in need.
Maximus (NYSE: MMS) reported strong financial results for the second quarter of fiscal year 2024, with revenue up 11.7% to $1.35 billion. Diluted earnings per share were $1.31, and adjusted diluted earnings per share were $1.57. The company raised guidance for FY24, with revenue increasing by $75 million, adjusted operating income by more than $34 million, adjusted diluted earnings per share by $0.40, and free cash flow by $25 million. Net debt to EBITDA ratio improved to 1.7 times. A quarterly cash dividend of $0.30 per share was declared.
The 2023 Maximus Foundation Annual Report highlights a year of positive impact and community involvement, emphasizing their commitment to equitable change and inclusivity. The report showcases stories of employee and grantee contributions, outlining the Foundation's mission to improve lives and wellbeing. Looking forward, the Foundation plans to implement a new grantmaking approach in 2025 to further their impact.
Maximus celebrates Volunteer Week by recognizing the impact of volunteer service and honoring employee Ambassadors who contribute to community service. Foundation Board members volunteered with grantee partner Cornerstones, witnessing the organization's impact firsthand and contributing to positive change. Cornerstones relies on volunteer support to fulfill its mission, and Maximus Foundation encourages everyone to get involved and make a difference in their communities.
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?
