MAXIMUS Suspends 2020 Guidance - Quick Facts

(RTTNews) - MAXIMUS (MMS) has suspended its fiscal 2020 revenue and earnings guidance due to the uncertainty of the impact from COVID-19. The company projects negative impacts to the income statement and cash flows for fiscal 2020.

Going forward, MAXIMUS will continue to exercise a disciplined approach to cash outflows. The company will continue its ongoing evaluation of its cash position and use of cash on a holistic basis which includes its approach to buybacks, dividends, and M&A. The MAXIMUS share purchase program will conclude on March 25, 2020.

MAXIMUS believes it has adequate cash reserves, including access to a $400 million revolving credit facility to navigate the pandemic.