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Maximus, Inc. (MMS) lifted its annual profit guidance. Bruce Caswell, CEO of Maximus, said: "Along with strong financials in our first quarter and an improvement to full-year earnings guidance, we have recently been successful in removing multiple contractual and business uncertainties that ultimately strengthen the durability of our business."
For the full year, the company now expects adjusted income per share of $5.90 to $6.20, compared with the prior outlook of $5.70 and $6 per share.
However, annual revenue is now expected to be $5.2 billion to $5.35 billion, adjusting for the recent divestiture that removed around $100 million of revenue. Earlier, the company had projected higher revenue of $5.275 billion to $5.425 billion.
Q1 Results:
Maximus reported net profit for first quarter that decreased from the same period last year
The company's bottom line totaled $41.196 million, or $0.69 per share. This compares with $64.148 million, or $1.04 per share, last year.
Excluding items, Maximus Inc reported adjusted earnings of $96.514 million or $1.61 per share for the period.
The company's revenue for the period also rose 5.7% to $1.402 billion from $1.327 billion last year.
Maximus Inc earnings at a glance (GAAP) :
-Earnings: $41.196 Mln. vs. $64.148 Mln. last year.
-EPS: $0.69 vs. $1.04 last year.
-Revenue: $1.402 Bln vs. $1.327 Bln last year.
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