EarningsQ3 2026 Earnings Report
MX:MMS Q3 2026 EPS Results
Actual EPS$38.06
Consensus EPS$37.81
Beat/MissBeat by +$0.26
One Year Ago EPS$37.04
MX:MMS Q3 2026 Revenue Results
Actual Revenue$21.93B
Expected Revenue$22.76B
Beat/MissMissed by -$831.49M
YoY Revenue Growth-5.15%
Earnings Announcement Details
QuarterQ3 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
MX:MMS Upcoming Earnings
Maximus's next earnings date is estimated for November 19, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:MMS Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a generally constructive operational and strategic picture — Q3 revenue was in line with expectations, margins improved year-over-year, a large $50.4B pipeline and $1.25B of signed awards support medium/long-term growth, AI adoption is delivering measurable margin benefits, and collections momentum has begun to relieve working capital stress. However, notable near-term headwinds include a customer-directed pause of VA MDE incentives that reduced FY26 EPS guidance by ~$0.35, elevated DSO and a Q3 free cash flow outflow, a slowed procurement environment with a trailing book-to-bill of ~0.5x, and modest profitability in Outside the U.S. Taken together, the company appears to be navigating temporary timing and contract-driven challenges while maintaining margin progress, a sizable pipeline, disciplined capital allocation, and strategic investments that support growth into FY2027.Company Guidance
Quarterly Revenue In Line with Expectations
Q3 revenue of $1.28 billion was in line with expectations and Management reiterated full-year revenue guidance of $5.2B–$5.35B (bias toward lower end).
Improved Profitability Metrics
Adjusted EBITDA margin improved to 15.0% in Q3 from 14.7% year-ago (+0.3 percentage points). Adjusted EPS was $2.22 in Q3 vs. $2.16 prior year (+2.8%).
Segment Margin Strength — U.S. Federal Services
U.S. Federal Services Q3 revenue $721M with operating income margin of 18.6% vs. 18.1% prior year (+0.5 ppt), driven by efficiency gains and technology investments.
U.S. Services Trajectory Toward Growth
U.S. Services Q3 revenue $418M; operating margin 10.8% with management forecasting positive mid-single-digit organic growth in Q4 and expected continued organic growth into FY2027.
Large Sales Pipeline and Book of Awards
Total pipeline of $50.4B at June 30 (57% new work; 55% attributable to U.S. Federal Services). Year-to-date signed awards were $1.25B and an additional $1.35B awarded but unsigned, supporting medium/long-term growth.
Accelerated Collections from Major Federal Customer
Collections momentum improved with approximately $245M received since June 30, addressing elevated DSO and supporting the expectation that DSO will finish the fiscal year below 70 days (current DSO 98 days).
Active Capital Allocation and Share Repurchases
Repurchased ~0.75M shares for $50M in Q3; since FY2025 repurchased ~8.3M shares (~14% of beginning outstanding). Entire $400M Board buyback authorization remains available.
AI Adoption and Operational Benefits
75%–80% of new bids contain explicit AI requirements. AI-based improvements across 5 contracts produced ~3.5% operating margin improvement for that group; strategic investments (e.g., Spectro Cloud) to accelerate secure AI adoption.
MX:MMS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed