Maximus, Inc. (NYSE:MMS) Q4 2023 Earnings Call Transcript November 16, 2023 9:00 AM ET

Company Participants

Jessica Batt - VP of IR

David Mutryn - CFO

Bruce Caswell - President and CEO

Conference Call Participants

Charlie Strauzer - CJS Securities

Bert Subin - Stifel

Operator

Greetings. Welcome to Maximus Fiscal Year 2023 Fourth Quarter and Year-End Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jessica Batt, Vice President of Investor Relations for Maximus. Thank you, Ms. Batt. You may begin.

Jessica Batt

Good morning, and thanks for joining us. With me today is Bruce Caswell, President and CEO; David Mutryn, CFO; and James Francis, Vice President of Investor Relations.

I'd like to remind everyone that a number of statements being made today will be forward-looking in nature. Please remember that such statements are only predictions. Actual events and results may differ materially as a result of risks we face, including those discussed in Item 1A of our most recent Forms 10-Q and 10-K. We encourage you to review the information contained in our recent filings with the SEC and our earnings press release. The company does not assume any obligation to revise or update these forward-looking statements to reflect subsequent events or circumstances, except as required by law.

Today's presentation also contains non-GAAP financial information. Management uses this information internally to analyze results and believe it may be informative to investors, engaging the quality of our financial performance, identifying trends and providing meaningful period-to-period comparisons. For a reconciliation of the non-GAAP measures presented, please see the company's most recent Forms 10-Q and 10-K.

And with that, I'll hand the call over to David.

David Mutryn

Thanks, Jessica, and good morning. We are pleased to report a solid finish to fiscal year 2023 with 7.4% organic revenue growth and a 10% adjusted operating margin in the fourth quarter, reflecting healthy earnings tailwinds that we expect to carry on through fiscal year 2024. Last week, we announced that we divested several international employment services businesses in our ongoing effort to strategically shape the Outside the US segment and improve profitability and stability. We had robust signed contract awards in the fiscal year of $6.1 billion, which includes successfully defending key recompetes.