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Strong FY24 2nd Quarter Sees Maximus Generating $1.35B in Revenue; Bruce Caswell Quoted

Government services provider Maximus (NYSE: MMS) reports having raised $1.35 billion in revenue in the second quarter of fiscal year 2024.

The figure represents an 11.7 percent increase compared to the same period last year, which saw $1.21 billion in revenue, Maximus said Wednesday.

Organic growth for the period was at 12.6 percent, which the company attributed to expanded U.S. federal services segment programs and expanded and resumed U.S. services segment programs.

The company’s U.S. federal services segment generated $701.7 million in revenue for the period — a 20.1 percent year-over-year increase — while its U.S. services segment generated $486.1 million in revenue — an 8.1 percent year-over-year increase.

In light of this positive performance, Maximus has raised its FY2024 guidance, a move “that reflects our confidence in the earnings power of the business,” according to company President and CEO and past Wash100 winner Bruce Caswell.

Changes to prior guidance includes $75 million increase in revenue for the fiscal year, which is now expected to range between $5.15 billion and $5.25 billion.

“We are focused on driving future growth through continued, excellent operational execution coupled with innovative technology solutions to drive long-term shareholder value,” Caswell commented.

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