logo
Plus   Neg
Share
Email

MAXIMUS Suspends 2020 Guidance - Quick Facts

MAXIMUS (MMS) has suspended its fiscal 2020 revenue and earnings guidance due to the uncertainty of the impact from COVID-19. The company projects negative impacts to the income statement and cash flows for fiscal 2020.

Going forward, MAXIMUS will continue to exercise a disciplined approach to cash outflows. The company will continue its ongoing evaluation of its cash position and use of cash on a holistic basis which includes its approach to buybacks, dividends, and M&A. The MAXIMUS share purchase program will conclude on March 25, 2020.

MAXIMUS believes it has adequate cash reserves, including access to a $400 million revolving credit facility to navigate the pandemic.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Guitar Center Inc., a retailer of musical instruments, lessons, repairs and rentals, has filed for Chapter 11 bankruptcy reorganization, aiming to significantly reduce its debt and continue its business amid ongoing struggles following the coronavirus pandemic. The company, which operates nearly 300 stores across the U.S., expects to complete the process before the end of this year. Amazon is offering new "Spoiler Free" ways to keep gifts a surprise, as well as to track, receive and pick up orders this holiday season. According to the company, the new features would help customers to face the challenge of keeping those special gifts under wraps as many families are opting to stay home amid the coronavirus pandemic. AstraZeneca Plc and Oxford University's coronavirus vaccine candidate AZD1222 is found to be 70 percent effective on average against Covid-19, according to the British pharmaceutical giant. AstraZeneca plans to immediately prepare regulatory submission of the data to worldwide authorities for conditional or early approval. The company will also ask for an Emergency Use Listing from the WHO.
RELATED NEWS
Follow RTT