Maximus (MMS)
NYSE:MMS
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Earnings Data
Report Date
Aug 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
2.21Last Year’s EPS
2.16Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call delivered more positive signals than negative: management reported sequential and year-over-year margin and EPS improvements, raised full-year EPS and margin guidance, reiterated strong free cash flow guidance, highlighted demonstrable tech/AI-driven operating leverage and an expanding H.R. 1 pipeline, and authorized additional share repurchases. Offsetting negatives include elevated DSO and receivable timing risk that could cause cash-flow lumpiness, a modest decline in U.S. Services revenue, an Outside U.S. operating loss, and a small non-cash asset impairment. On balance, the positives (profitability improvement, guidance raise, tech-driven efficiency, capital return, and healthy pipeline) outweigh the operational and timing challenges.Company Guidance
Quarterly Revenue On-Track
Reported Q2 revenue of $1.31 billion, consistent with company expectations and on track with full-year guidance of $5.20B–$5.35B.
Improved Profitability Metrics
Adjusted EBITDA margin rose to 14.4% in Q2 (up from 13.7% year-ago, +70 bps) and adjusted EPS was $2.07 versus $2.01 a year earlier (≈+3.0%).
Raised Full-Year Earnings Guidance
Fiscal 2026 adjusted EPS guidance increased by $0.20 to $8.05–$8.55 (midpoint implies ~14% YoY growth); adjusted EBITDA margin guidance raised to ~14.2% (20 bps improvement).
Strong Cash Flow and Free Cash Flow Guidance
Q2 operating cash flow of $190 million and free cash flow of $179 million; reiterated full-year free cash flow guidance of $450 million–$500 million.
Capital Deployment: Share Repurchases and Program Refresh
Repurchased ~1.4 million shares for $111 million in Q2 and an additional 600k shares for $40 million post-quarter; Board authorized up to $400 million more for buybacks.
Balance Sheet and Leverage Position
Total debt modestly reduced to $1.55 billion and consolidated net total leverage ratio was 1.8x, below stated target range of 2x–3x.
Segment Performance — U.S. Federal Services
U.S. Federal Services revenue $753 million (vs $778M prior year), but organic growth excluding natural disaster work was +1.5% YoY and operating margin improved to 17.6% from 15.3% prior-year; full-year segment margin guide raised to 17.5%.
Technology & AI Driving Operating Leverage
Management cited meaningful margin enhancement from automation and AI examples: dispute resolution automation and an in-house AI solution that handles nearly half of claim-processing effort; TXM contact-center AI solution recognized by a federal agency as very advanced.
Pipeline and Award Activity
Total pipeline of $56.8 billion (including $4.6B proposals pending); year-to-date signed contract awards of $913 million plus $322 million awarded but not yet signed. Quarterly book-to-bill improved to 0.5x from 0.2x last quarter.
H.R. 1 Opportunity Momentum
H.R. 1–related opportunity set in the pipeline increased 75% quarter-over-quarter; management cited two state engagements and an example that could drive >30% increase in a current program's revenue (subject to scope and timing).
MMS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MMS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $63.60 | $66.29 | +4.24% |
Feb 05, 2026 | $92.76 | $77.44 | -16.51% |
Nov 20, 2025 | $76.98 | $81.24 | +5.53% |
Aug 07, 2025 | $73.59 | $76.96 | +4.58% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Maximus (MMS) report earnings?
Maximus (MMS) is schdueled to report earning on Aug 06, 2026, Before Open (Confirmed).
What is Maximus (MMS) earnings time?
Maximus (MMS) earnings time is at Aug 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MMS EPS forecast?
MMS EPS forecast for the fiscal quarter 2026 (Q3) is 2.21.