Slide 1: Fiscal 2024 Second Quarter Earnings Call
Fiscal 2024 Second Quarter Earnings Call David Mutryn Chief Financial Officer May 9, 2024 1 | Maximus: Q2 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: Total Company Results – Second Quarter of FY24
Total Company Results – Second Quarter of FY24 ($ in millions, except per share data) Q2 FY24 Q2 FY23 % Change • Revenue increased 11.7%, or 12.6% on an Revenue U.S. Federal Services $ 701.7 $ 584.1 20.1 % organic basis U.S. Services 486.1 449.7 8.1 % Outside the U.S. 160.5 173.1 (7.2)% Total Revenu
Slide 4: U.S. Federal Services Segment
U.S. Federal Services Segment • Revenue increased 20.1%, which was all ($ in millions) Q2 FY24 Q2 FY23 % Change organic and driven by volume growth on expanded programs, including the VA Revenue Medical Disability Examination (MDE) U.S. Federal Services $ 701.7 $ 584.1 20.1 % contracts Operating Inc
Slide 5: U.S. Services Segment
U.S. Services Segment • Revenue increased 8.1%, which was all organic ($ in millions) Q2 FY24 Q2 FY23 % Change and driven by both the resumption of Medicaid redetermination activities and expanded work Revenue such as a large, state-based assessment U.S. Services $ 486.1 $ 449.7 8.1 % program Operat
Slide 6: Outside the U.S. Segment
Outside the U.S. Segment • Revenue decreased by 7.2% with most of ($ in millions) Q2 FY24 Q2 FY23 % Change the decline attributable to divested businesses; the segment was flat on an Revenue Outside the U.S. $ 160.5 $ 173.1 (7.2)% organic basis • Segment made small profit in Q2 FY24 Operating Income
Slide 7: Debt, Cash Flows, and Capital Allocation
Debt, Cash Flows, and Capital Allocation Cash Flows & DSO $ in millions Q2 FY24 YTD FY24 FY24 Guidance Cash provided by operating activities $ 130.5 $ 152.1 Purchases of property and equipment and capitalized software costs (25.3) (47.5) Free cash flow $ 105.2 $ 104.5 $330M - $370M • Q2 FY24 cash fl
Slide 8: Further Improvement to Fiscal Year 2024 Guidance
Further Improvement to Fiscal Year 2024 Guidance •Second consecutive raise to FY24 guidance Fiscal 2024 Guidance Updated Previous − Midpoint of FY24 revenue is up $75 million from prior guidance Revenue $5.15B - $5.25B $5.05B - $5.20B and implies nearly 7% organic growth over FY23 − New FY24 earning
Slide 9: Fiscal 2024 Second Quarter Earnings Call
Fiscal 2024 Second Quarter Earnings Call Bruce Caswell President & Chief Executive Officer May 9, 2024 9 | Maximus: Q2 FY24 Earnings Presentation
Slide 10: Revenue Growth
Revenue Growth Expansion on Current Programs Remain keenly focused on new work wins • Building solid customer relationships through quality − Making investments in our business development, delivery has reliably enabled our teams to increase capture, and proposal teams – and their supporting volumes
Slide 11: Recent Wins Align with Strategy
Recent Wins Align with Strategy High Energy Technical Support $70 million with DOE This single award BPA with the Department of Energy (DOE) $21 million with CSC Office of Intelligence and We were awarded our first Task Order on the OPM Counterintelligence provides Customer Support Center (CSC) BPA.
Slide 12: New Awards & Pipeline
New Awards New Awards (YTD) March 31, 2024 Signed Contracts $568 million & Pipeline Unsigned Contracts $797 million Book-to-Bill ratio (TTM) 1.1x Pipeline as of March 31 do not include rebid figures for Contact Center Operations total pipeline 75% new work (CCO) contract with CMS $37.8B of sales 56%
Slide 13: Margin Improvements & Reinvestments
Margin Improvements & Reinvestments Contribution to Q2 Margin Improvement Employee Value Proposition Enhancements • Maximus Forward is a structured evaluation of the design, • Enhancements to our Employee Value Proposition (EVP) are processes, and resources that drive our delivery driven by employee
Slide 14: Leader in Veteran Employment
Leader in Veteran Employment We’re proud of our dedication to recruiting, hiring, retaining, developing, and supporting military personnel and their families and fostering an inclusive workplace that values the unique skills and experiences they bring to our organization. 14 | Maximus: Q2 FY24 FY23
Slide 15: | Maximus: Q2 FY24 Earnings Presentation
15 | Maximus: Q2 FY24 Earnings Presentation