Slide 1: Fiscal 2024 Year End Earnings Call
Fiscal 2024 Year End Earnings Call Bruce Caswell President & Chief Executive Officer November 21, 2024 1 | Maximus: Q4 FY24 Earnings Presentation
Slide 2: Forward-looking Statements & Non-GAAP Information
Forward-looking Statements & Non-GAAP Information These slides should be read in conjunction with our most recent quarterly earnings press release, along with listening to or reading a transcript of management comments from our most recent quarterly earnings conference call. This document may contai
Slide 3: Looking Ahead
Looking Ahead • Our business has successfully operated as a proven • Maximus has decades of experience guiding our partner to governments across numerous political customers through changes that can impact eligible transitions. populations and program delivery models. • We’ve developed the capacity
Slide 4: FY24 Highlights
FY24 Highlights Exceeded our forecasts through solid execution across the segments while benefiting from strong volumes in certain programs. Continued to deliver on our three-to-five-year strategy and meet or exceed our targets. Highlights from FY24 include • Organic revenue growth of 9% • Rec
Slide 5: Recent Wins
Recent Wins In FY24, we successfully secured two task orders under the IRS Enterprise Development, Operations Services (EDOS) Blanket Purchase Agreement. Combined, the task orders contribute total contract value of $128 million and represent two of the six task orders awarded to date. These victorie
Slide 6: Enterprise Technology
Enterprise Technology In FY24, under our Maximus Forward initiative, our Enterprise Technology organization undertook significant change. The Office of the CDIO sharpened service delivery and execution, deepened our capacity to identify, shape, and respond to customer needs, and positioned Maximus t
Slide 7: New Awards & Pipeline
New Awards (YTD) September 30, 2024 Signed Contracts $2.2 billion New Awards Unsigned Contracts $312 million & Pipeline Book-to-Bill ratio (TTM) 0.4x Given circumstances as best total pipeline 48% new work $54.3B known today, the volume of adjudications for both rebids of sales and new work are expe
Slide 8: Fiscal 2024 Year End Earnings Call (CFO)
Fiscal 2024 Year End Earnings Call David Mutryn Chief Financial Officer November 21, 2024 8 | Maximus: Q4 FY24 Earnings Presentation
Slide 9: Total Company Results – Fiscal Year 2024
Total Company Results – Fiscal Year 2024 ($ in millions, except per share data) FY24 Margin FY23 Margin % Change • Full year revenue increase of 8.2%, or 8.8% on an organic basis, attributable to: U.S. Federal Services $ 2,737.2 $ 2,403.6 13.9 % − Volume growth on core programs that should maintain
Slide 10: U.S. Federal Services Segment
U.S. Federal Services Segment • Revenue increased 13.9%, which was all ($ in millions) FY24 FY23 % Change organic and driven predominantly by volume growth on expanded clinical programs Revenue U.S. Federal Services $ 2,737.2 $ 2,403.6 13.9 % • FY24 margin of 12.2% benefitted from Operating Income U
Slide 11: U.S. Services Segment
U.S. Services Segment • Revenue increase of 5.5% was all organic ($ in millions) FY24 FY23 % Change the segment delivered a 12.9% margin in FY24 Revenue U.S. Services $ 1,911.8 $ 1,812.1 5.5 % • Strong FY24 performance driven by the Medicaid-related portfolio returning to normal Operating Income U.S
Slide 12: Outside the U.S. Segment
Outside the U.S. Segment • Revenue decreased by 4.6% ($ in millions) FY24 FY23 % Change − Businesses divested during FY23 reduced revenue by Revenue 6.1% Outside the U.S. $ 657.1 $ 689.1 (4.6)% − Currency effects provided a 1.7% pick-up Operating Income/(Loss) • Organic growth improved in H2 FY24 an
Slide 13: Debt and Cash Flows
Debt and Cash Flows Debt • At September 30, 2024, the ratio of debt, net of allowed cash, to consolidated EBITDA on TTM basis, as calculated in accordance with credit agreement, was 1.4x as compared to 2.2x in the prior year; at September 30, 2024, total debt was $1.15 billion • Paid down slightly m
Slide 14: Share Repurchases and Capital Allocation
Share Repurchases and Capital Allocation Share Repurchases • FY24 share repurchases totaled 0.9 million shares for approximately $73 million • Post-FY24 repurchases through November 19, 2024, totaled an additional 0.5 million shares for approximately $43 million • Presently have $128 million remaini
Slide 15: Establishing Fiscal Year 2025 Guidance
Establishing Fiscal Year 2025 Guidance • FY25 revenue guidance implies/assumes: Fiscal 2025 Guidance − Modest, underlying organic growth vs. FY24 when accounting for excess volumes in U.S. Services Segment Revenue $5.275B - $5.425B − 3-year CAGR of 5.0%, which ignores FY24 excess volume contribution
Slide 16: | Maximus: Q4 FY24 Earnings Presentation
16 | Maximus: Q4 FY24 Earnings Presentation