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Fiscal Year 2024 Outlook
Maximus is establishing fiscal year 2024 guidance. The company expects revenue to range between $5.05 billion and $5.2 billion. Adjusted operating income is expected to range between $488 million and $513 million, which excludes an estimated $88 million of expense for amortization of intangible assets. Adjusted diluted earnings per share is expected to range between $5.05 and $5.35 per share.
The midpoint of revenue guidance implies organic growth of approximately 5% over fiscal year 2023. The midpoint of adjusted operating income implies an adjusted operating margin of 9.8% as compared to the midpoint of revenue guidance.
Free cash flow is expected to range between $290 million and $340 million for fiscal year 2024. The company forecasts interest expense of approximately $70 million, an effective income tax rate between 24.5% and 25.5%, and weighted average shares outstanding between 62.2 million and 62.3 million shares for fiscal year 2024.
Posted In: MMS
