Maximus (MMS) stock plummeted 7.81% in intraday trading on Thursday, following the company's mixed fourth-quarter fiscal 2024 results. While revenues beat estimates, earnings fell short of analyst expectations.
The government services provider reported adjusted earnings of $1.46 per share, marginally lagging the Zacks Consensus Estimate but up 13.2% year-over-year. Revenues of $1.32 billion beat the consensus mark by 1.8% and rose 4.4% from the year-ago quarter.
Maximus' U.S. Federal Services segment saw a 9.4% revenue increase, while the Outside the U.S. segment grew 5%. However, the U.S. Services segment's revenues declined 2.2% year-over-year, missing estimates. The company's adjusted operating income margin expanded 20 basis points to 10.2%.
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