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Maximus MMS Q3 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$1.3BMiss by $48.5M
EPS$2.22Beat by $0.01
Revenue estimate$1.3B
EPS estimate$2.21
“Our third quarter results demonstrate the resilience of the Maximus business and our ability to deliver strong earnings performance while continuing to invest in long-term growth opportunities.”
Bruce Caswell

Next report

Nov 19, 2026 (in 2 months)
Revenue estimate$1.3B
EPS estimate$1.88

Financials

Q3 2026

Income statement

See full
Revenue$1.3B-5.1%
Gross profit$348.8M-3.0%
Operating income$161.4M-2.6%
Net income$103.6M-2.3%
EPS (diluted)$1.95+4.8%

Balance sheet

See full
Cash & equivalents$57.0M-4.7%
Total debt$1.7B-2.7%
Total equity$1.7B-1.8%
Total assets$4.4B-2.1%

Cash flow

See full
Operating cash flow-$125.0M+31.6%
CapEx$12.0M-22.6%
Free cash flow-$137.0M+30.9%

Valuation & ratios

Valuation

as of 09/16/26
See full
Market cap$3.05B-38.4%
Enterprise value$4.72B-29.2%
P/E8.2×-7.4×
P/S0.6×-0.3×

Profitability

See full
Gross margin25.6%+1.6pp
Operating margin11%+1.5pp
Net margin7.1%+1.2pp

Returns & leverage

See full
Return on equity21.1%+3.5pp
Debt / equity1×0.0×
Current ratio2.4×+0.1×

Segments

By product

See full
Program Operations$602.8M-3.9%
Clinical Services$553.1M-1.3%
Technology Solutions$67.2M-15.1%
Employment & Other$55.9M-31.8%

By segment

See full
U.S. Services$418.2M-4.9%
Outside the U.S.$139.8M-5.2%

FAQ

When did Maximus report Q3 2026 earnings?
Maximus (MMS) reported Q3 2026 earnings on August 6, 2026 before market open.
What were Maximus's Q3 2026 revenue and EPS?
Maximus reported revenue of $1.3B and eps of $2.22 for Q3 2026.
Did Maximus beat estimates in Q3 2026?
Revenue missed the consensus estimate of $1.3B by $48.5M. EPS beat the consensus estimate of $2.21 by $0.01.
How did Maximus's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 5.1% from $1.3B a year earlier and eps grew 2.8% from $2.16.
Where can I find Maximus's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001032220-26-000033) and the 10-Q periodic report (0001032220-26-000035) directly on SEC EDGAR. The filing index links above go to sec.gov.