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Maximus (mms) Q3 Eps Jumps 24%

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Maximus (NYSE:MMS), a global provider of government services, reported fiscal third quarter 2025 earnings on August 7, 2025. The company’s headline news was a sharp outperformance on both non-GAAP earnings per share and GAAP revenue. Adjusted diluted EPS reached $2.16, Adjusted diluted EPS was up 24.1% year-over-year and 40.7% ahead of the analyst estimate (non-GAAP). Revenue (GAAP) rose 2.5% year over year to $1.35 billion, beating consensus forecasts by $32.9 million (GAAP). The quarter was defined by robust execution in the U.S. Federal Services segment and its third consecutive guidance raise for FY2025, even as Free cash flow (non-GAAP) fell well below typical levels due to payment timing. Overall, it was a quarter marked by strong operational results but also caution around cash flow and certain market headwinds.

Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q2 2025 earnings report.

Maximus specializes in providing outsourced services and technology solutions to governments. Its core business involves managing complex public programs such as health insurance eligibility, medical disability exams for veterans, and employment services. Much of its work is in partnership with U.S. federal, state, and international governments.

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