Q4 2024 Maximus Inc Earnings Call Transcript
Key Points
- Maximus Inc (MMS) reported organic revenue growth of 9% for FY24, with record adjusted earnings per share of $6.11.
- The company secured significant contract wins, including two task orders under the IRS Enterprise Development Operations Services, contributing a total contract value of $128 million.
- Maximus Inc (MMS) successfully rebid its California Independent Medical Review project, valued at $120 million over a three-year period.
- The company launched its Global Capability Center, enhancing its ability to deliver and innovate solutions.
- Maximus Inc (MMS) achieved a debt ratio reduction to 1.4 times, down from 2.2 times the previous year, demonstrating strong financial management.
- The book-to-bill ratio for the trailing 12-month period was approximately 0.4 times, reflecting a lower-than-normal period of rebid activity.
- Revenue guidance for FY25 is slightly lower than expected, with margins projected to be around 11%, indicating potential challenges in maintaining profitability.
- The company faces uncertainty due to the transition of the new administration, which may impact procurement processes and contract awards.
- Maximus Inc (MMS) is involved in a legal dispute over the CMS Contact Center Operations contract, which could affect future revenue streams.
- The outside the US segment experienced a revenue decrease of 4.6%, highlighting challenges in international markets.
Greetings, and welcome to the Maximus fiscal 2024 fourth-quarter and year-end earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Jessica Batt, Vice President of Investor Relations and ESG for Maximus. Thank you. Ms. Batt, you please go ahead.
Good morning, and thanks for joining us. With me today is Bruce Caswell, President and CEO; David Mutryn, CFO; and James Francis, Vice President of Investor Relations. I'd like to remind everyone that a number of statements being made today will be forward-looking in nature. Please remember that such statements are only predictions. Actual events and results may differ materially as a result of risks we face, including those discussed in Item 1A of our most recent Forms 10-Q and 10-K.
We encourage you to review the information contained in our recent filings with the SEC and our earnings press release. The company does not assume any
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