Maximus (NYSE:MMS) Releases Earnings Results, Beats Expectations By $0.01 EPS

Posted by Brenda Bartman on Aug 8th, 2026

Maximus (NYSE:MMS – Get Free Report) posted its quarterly earnings data on Thursday. The health services provider reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.01, Zacks reports. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.33 billion. Maximus had a return on equity of 24.91% and a net margin of 7.07%.The company’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. Maximus updated its FY 2026 guidance to 7.900-8.200 EPS.

Here are the key takeaways from Maximus’ conference call:

Third-quarter results were solid: revenue reached $1.28 billion, adjusted EBITDA margin improved to 15.0% from 14.7%, and adjusted EPS rose to $2.22 from $2.16 year over year. Maximus reiterated fiscal 2026 revenue guidance of $5.2 billion to $5.35 billion, though it remains biased toward the lower end.
A temporary pause in performance incentives on the VA Medical Disability Exam contract is expected to reduce fourth-quarter adjusted EPS by approximately $0.35. Maximus lowered fiscal 2026 adjusted EPS guidance to $7.90–$8.20 and expects fourth-quarter adjusted EBITDA margin of approximately 13%.
Collections from a major federal customer accelerated, with approximately $245 million received since June 30. Management still expects DSO to fall below 70 days by fiscal year-end and free cash flow to range from $425 million to $475 million.
Maximus expects U.S. Services to return to positive mid-single-digit organic growth in the fourth quarter as Medicaid-related outreach and engagement volumes increase. SNAP accuracy initiatives, AI-enabled solutions, and defense and national security opportunities were highlighted as longer-term growth drivers.
The company reported a $50.4 billion sales pipeline, but procurement delays, scope revisions, cancellations, and increased use of bridge contracts are slowing opportunity maturation. Awarded-but-unsigned contracts increased to $1.35 billion, which management expects to support improving book-to-bill in future quarters.

Maximus Stock Up 1.5%

Shares of NYSE:MMS traded up $0.88 on Friday, hitting $59.21. 1,378,337 shares of the company’s stock were exchanged, compared to its average volume of 623,694. Maximus has a 1-year low of $52.73 and a 1-year high of $100.00. The company has a market capitalization of $3.11 billion, a PE ratio of 8.75 and a beta of 0.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.21 and a current ratio of 2.42. The firm’s 50-day moving average is $58.63 and its 200 day moving average is $67.46.

Maximus Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 14th. Maximus’s dividend payout ratio is currently 19.76%.

Maximus News Summary

Here are the key news stories impacting Maximus this week:

Positive Sentiment: Fiscal Q3 adjusted earnings were $2.22 per share, ahead of analyst estimates of approximately $2.20–$2.21 and up from $2.16 a year earlier. Higher margins also supported the quarter’s bottom-line performance. Maximus Q3 Earnings Beat Estimates, Increase Year Over Year
Positive Sentiment: The earnings beat, year-over-year EPS growth and stronger margins indicate that Maximus is maintaining profitability even as sales soften. Maximus Q3 Earnings Beat Estimates
Neutral Sentiment: Management’s fiscal Q3 earnings call focused on the quarterly performance and updated outlook, providing investors with additional context on operating trends and the company’s expectations for the remainder of fiscal 2026. Maximus Q3 2026 Earnings Call Transcript
Negative Sentiment: Revenue was $1.28 billion, below the $1.33 billion consensus estimate and down 5.1% year over year. The shortfall suggests softer demand or project timing is limiting growth. Maximus Fiscal Q3 Earnings Snapshot
Negative Sentiment: Maximus reduced fiscal 2026 EPS guidance to $7.90–$8.20, below the consensus estimate of $8.43. Revenue guidance of $5.2–$5.4 billion remains broadly in line with expectations at the midpoint, but the lower profit outlook is a key overhang for MMS. Updated Maximus Fiscal 2026 Guidance

Analysts Set New Price Targets

Several research firms recently commented on MMS. Weiss Ratings cut Maximus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 20th. Zacks Research cut Maximus from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Wall Street Zen cut Maximus from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Read Our Latest Research Report on Maximus

Institutional Investors Weigh In On Maximus

Several institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its stake in shares of Maximus by 13.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,268 shares of the health services provider’s stock valued at $109,000 after buying an additional 150 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Maximus by 0.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,476 shares of the health services provider’s stock valued at $2,351,000 after buying an additional 221 shares during the period. Larson Financial Group LLC lifted its position in Maximus by 13.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,869 shares of the health services provider’s stock worth $171,000 after acquiring an additional 227 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Maximus by 225.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 439 shares of the health services provider’s stock worth $38,000 after acquiring an additional 304 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Maximus by 38.9% in the 3rd quarter. National Bank of Canada FI now owns 1,118 shares of the health services provider’s stock worth $102,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.

About Maximus

(Get Free Report)

Maximus, Inc (NYSE: MMS) is a global provider of government services focused on delivering health and human services programs. The company partners with federal, state, and local agencies to administer and manage programs that support individuals and families across various stages of life. Key service areas include eligibility determination and enrollment services for Medicaid, Medicare, Children’s Health Insurance Program (CHIP) and other public assistance programs, as well as call center operations, case management and program integrity solutions.