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) has been awarded a $20 million contract from the Office of Personnel Management (OPM) to serve as the Contact Center Services Provider for the new Postal Service Health Benefits Program. This program will provide health insurance to eligible Postal Service employees, annuitants, and their families starting in 2025.
Maximus will lead customer support efforts, answering calls and emails for OPM's enhanced customer service platform. The company will utilize its Total Experience Management (TXM) solution, including advanced telephony, customer relationship management, and call quality reporting tools. This new program will replace FEHB coverage for eligible groups and is part of Maximus' expertise in implementing and modernizing public-facing programs.
Maximus (NYSE: MMS) reported strong fiscal year 2024 third quarter results, with revenue increasing 10.6% to $1.31 billion. The company raised its FY24 guidance for the third consecutive time, with revenue expected to range between $5.25 billion and $5.35 billion. Diluted earnings per share were $1.46, while adjusted diluted EPS reached $1.74. All three segments contributed to organic growth of 11.2%, with the U.S. Federal Services Segment being the primary driver. The company's net debt to EBITDA ratio improved to 1.5 times. Maximus declared a quarterly cash dividend of $0.30 per share, payable on August 31, 2024. The company's strong performance was attributed to favorable tailwinds and efficient delivery at scale across its operations.
Maximus has released the fourth episode of their DE&I podcast, 'ERGs Unplugged,' featuring members of its Black Alliance Employee Resource Group (ERG). The episode highlights personal perspectives on the impact and importance of the ERG in fostering diversity, equity, and inclusion within the company. The discussion emphasizes Maximus' commitment to creating an inclusive workplace through active engagement and support of its ERGs. For further details on their DE&I initiatives, visit Maximus.com/DEI.
Maximus (NYSE: MMS) has announced that its Board of Directors has approved a quarterly cash dividend of $0.30 per share. This dividend will be payable on August 31, 2024, to shareholders who are on record as of August 15, 2024. Maximus is recognized as a leading provider of government services worldwide.
Maximus (NYSE: MMS) has announced that it will release its financial results for the three and nine months ending June 30, 2024, after market close on August 7, 2024. The company will host a conference call on August 8 at 9:00 a.m. ET to discuss the results. Shareholders can submit questions for management by emailing IR@maximus.com up to one hour prior to the call. The call will be accessible to the public via webcast or phone, and a recording will be available on the company's investor website.
Maximus has released the third episode of its DE&I podcast, ERGs Unplugged, focusing on the LGBTQIA+ community. In this episode, members of the PRISM Employee Resource Group (ERG), Avery Springe and Taran Neiderman, share their personal and professional experiences within the group. Avery discusses how involvement with PRISM enabled him to advocate for gender-neutral bathrooms across all states. Taran emphasizes the importance of support in being one's true self, which PRISM facilitated for them. This episode highlights Maximus' commitment to diversity, equity, and inclusion. Additional DE&I information is available on their website.
Maximus (NYSE: MMS) has been awarded an $87 million, five-year task order by the IRS to deliver comprehensive development and modernization services. This task order, part of the IRS's Enterprise Development, Operations Services (EDOS) contract, aims to enhance the financial management systems of the IRS. Maximus will support the IRS Internal Management Division, providing General Ledger support and aiding in compliance and enforcement programs. The task order builds on a longstanding partnership, including previous work on the IRS Master File system. Maximus will design, develop, and maintain various IT services, contributing to improved taxpayer services and accountability.
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.
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