CBIZ Inc
CBZ
ISIN US1248051021 / Valor 2238019
CBIZ Inc
UMushroom community rating:
About company
CBIZ Inc is a leading provider of financial, benefits, and insurance services with a nationwide presence in major cities across the United States. With over 120 offices and nearly 7,000 team members, the company offers top-tier expertise to organizations of all sizes and individual clients. CBIZ prides itself on delivering personalized service at the local level, combining national-caliber knowledge with a focus on building strong relationships with its clients.
Summarized from source with an LLMView SourceSector: Business ServicesLatest Results (20.08.2024):
Revenue Growth
In the second quarter of 2024, CBIZ Inc. reported a total revenue of $420.0 million, marking an increase of 5.4% compared to the $398.5 million recorded in the same period of 2023. This growth was driven by acquired operations contributing $10.5 million and same-unit revenue increasing by $11.0 million.
Net Income Decline
CBIZ Inc.'s net income for the second quarter of 2024 was $19.8 million, or $0.39 per diluted share, a decrease from $26.9 million, or $0.53 per diluted share, in the same quarter of the previous year. This decline was influenced by acquisition-related expenses.
Six-Month Performance
For the first half of 2024, CBIZ Inc. recorded a total revenue of $914.3 million, up 7.2% from $853.1 million in the same period of 2023. Net income for this period was $96.7 million, or $1.92 per diluted share, compared to $100.0 million, or $1.98 per diluted share, in the first half of 2023.
Adjusted Earnings
Excluding nonrecurring acquisition-related expenses, CBIZ Inc.'s adjusted net income for the second quarter of 2024 was $25.0 million, compared to $27.6 million in the same period of the previous year. Adjusted earnings per share were $0.50, down from $0.55 in the second quarter of 2023.
2024 Outlook
CBIZ Inc. expects total revenue growth of 7% to 9% for the full year 2024. The company projects GAAP fully diluted earnings per share to grow within a range of 6% to 8%, reaching $2.53 to $2.58 per share, and adjusted fully diluted earnings per share to grow 10% to 12%, reaching $2.64 to $2.69 per share.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4152 M
Market cap (USD)
52,682
Daily traded volume (Shares)
82.77 / 81.8
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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P/E ratio
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EPS (USD)
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Ratings & reviews
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