Maximus Fiscal Q3 EPS Beats as Revenues Miss

Maximus reported mixed fiscal Q3 results and raised its FY EPS outlook while reiterating its revenue guidance.For Q3 ended June 30, earnings were $0.86 per share, up from $0.79 per share a year earlier and ten cents above the GAAP consensus of analysts polled by Capital IQ. Revenues fell to $600.5 million from $617.1 million and were below expectations for $614.1 million.

For FY17, Maximus now expects EPS of $3.05 to $3.15 per share, up from a prior view of $3.00 to $3.10 per share, and in line to above the $3.05 per share average estimate. The company continues to expect revenue of $2.43 billion to $2.48 billion, but with a bias toward the bottom end of the range. Analysts are expecting annual revenues of $2.46 billion.

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