MAXIMUS Q3 Earnings Advance, Results Beat Estimates; Reiterates Annual Outlook

(RTTNews) - MAXIMUS, Inc. (MMS), a provider of business process services to government health agencies, Thursday reported third-quarter earnings which increased, as a surge in health services boosted revenues. In addition, both earnings and revenues topped analysts' estimates.

The company also confirmed its annual revenue and earnings outlook, with a bias towards the upper end of guidance range.

For the 3-month period, net earnings advanced to $34.14 million or $0.49 per share, from $28.1 million or $0.40 per share a year earlier.

On average, six analysts polled by Thomson-Reuters estimated the company's earnings to be $0.48 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenues increased by 40 percent to $419.9 million, from $334.3 million last year, above the $418.71 million Wall Street expected.

For the full year, the company continues to expect earnings of $2.00 and $2.10 per share from continuing operations on revenues of $1.68 billion and $1.73 billion.

Analysts expect earnings of $2.08 per share on revenues of $1.71 billion.