Slide 1: Fiscal 2021 Second Quarter Earnings Call
Fiscal 2021 Second Quarter Earnings Call Rick Nadeau Chief Financial Officer May 6, 2021 1 | Maximus: Q3 FY20 Earnings Presentation
Slide 2: Forward-looking Statements & Non-GAAP Information
Forward-looking Statements & Non-GAAP Information These slides should be read in conjunction with the Company’s most recent quarterly earnings press release, along with listening to or reading a transcript of the comments of Company management from our most recent quarterly earnings conference call.
Slide 3: Total Company Results – Second Quarter of FY21
Total Company Results – Second Quarter of FY21 ($ in millions, except Q2 FY21 Q2 FY20 % Change • Revenue and earnings results were better than expected and per share data) driven by Revenue − High level of COVID-19 response work as we play an integral U.S. Services $ 448.2 $ 308.7 45.2 % role with h
Slide 4: U.S. Services Segment
U.S. Services Segment Q2 FY21 Revenue • Increase driven by an estimated $175M of ($ in millions) Q2 FY21 Q2 FY20 % Change COVID-19 response work Q2 FY21 Operating Margin Revenue • Better than expected COVID-19 response operating U.S. Services $ 448.2 $ 308.7 45.2 % results offset the negative impact
Slide 5: U.S. Federal Services Segment
U.S. Federal Services Segment Q2 FY21 Revenue & Operating Margin • Decreased due the expected conclusion of the Census ($ in millions) Q2 FY21 Q2 FY20 % Change contract which contributed $133M less revenue in Q2 FY21 as compared to Q2 FY20 Revenue • Excluding Census, organic revenue growth was 13% U
Slide 6: Outside the U.S. Segment
Outside the U.S. Segment Q2 FY21 Revenue & Operating Income ($ in millions) Q2 FY21 Q2 FY20 % Change • Better than expected results largely driven by favorable market conditions and strong operations in Australia Revenue • This segment has experienced the most pronounced impact Outside the U.S. $ 18
Slide 7: Cash Flows, Balance Sheet, and Capital Allocation
Cash Flows, Balance Sheet, and Capital Allocation $ in millions Q2 FY21 Cash flows from operations $ 181.6 Purchases of property and equipment and capitalized software costs (14.5) Free cash flow $ 167.1 Cash Flows & Balance Sheet • At March 31, 2021, $240M of borrowings on $400M corporate credit fa
Slide 8: Raising Fiscal Year 2021 Guidance
Organic Revenue Projection Raising Fiscal Year 2021 Guidance $ in millions FY21E FY20A Revenue $ 4,100 $ 3,462 Total growth % 18.4% Fiscal 2021 Guidance Revised Previous VES Acquisition (168) - Attain Acquisition (130) - Revenue $4.0B – $4.2B $3.400B – $3.525B Organic Revenue $ 3,803 $ 3,462 Organic
Slide 9: Fiscal 2021 Second Quarter Earnings Call
Fiscal 2021 Second Quarter Earnings Call Bruce Caswell President & Chief Executive Officer May 6, 2021 9 | Maximus: Q1 FY21 Earnings Presentation
Slide 10: Long-term Corporate Strategy
Long-term Corporate Strategy Three-pronged strategy to accelerate progress and drive next phase of growth 1. Digital transformation within the government services market, enabling new solution offerings to address the mission requirements of our customers and improve overall service delivery across
Slide 11: Attain Acquisition
Attain Acquisition ▪ Furthers two primary strategic pillars: • Digital transformation – application development & modernization – enterprise business solutions – cybersecurity – data sciences (advanced analytics & machine learning) • Expanding U.S. federal market – Securities & Exchange Commission –
Slide 12: Veterans Evaluation Services Acquisition
Veterans Evaluation Services Acquisition* • Premier provider of Medical Disability Examinations (MDE) to the U.S. Department of Veterans Affairs (VA) • Significantly advances our clinical evolution, while meaningfully expanding our presence in the VA • Clinical assessments business (state level grow
Slide 13: Addressing the Pandemic-related Needs of our Customers
Addressing the Pandemic-related Needs of our Customers COVID-19 related new wins United Kingdom • Pandemic-related needs continue to evolve, • Two new prime contracts: Restart programme resulting in new wins for related work at the (through CAEHRS framework), provides state and federal level (CDC Va
Slide 14: New Awards & Pipeline
New Awards & Pipeline New Awards (YTD) March 31, 2021 Sales Pipeline March 31, 2021 New Work % Signed Contracts $1.11B Total Pipeline $35.6B 67.4% Unsigned Contracts $1.28B Pipeline dynamics • CDC Vaccination Hotline and U.K. Restart contract awards were subsequent to our March 31 cutoff 14 | Maximu
Slide 15: Conclusion
Conclusion Welcome • Attain employees and prospective colleagues from VES • We are very focused on corporate culture as an integration leadership team • Our goal for Attain and VES is to have more opportunities, take on new challenges, advance your careers, and be rewarded for quality work Thank you