Group 1: Earnings Performance - CBIZ reported quarterly earnings of $0.95 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, and up from $0.50 per share a year ago, representing an earnings surprise of +13.10% [1] - Over the last four quarters, CBIZ has surpassed consensus EPS estimates four times [2] - The company posted revenues of $683.5 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 3.73%, compared to year-ago revenues of $420.01 million [2] Group 2: Stock Performance and Outlook - CBIZ shares have declined approximately 7.5% since the beginning of the year, while the S&P 500 has gained 8.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $0.99 on revenues of $732 million, and for the current fiscal year, it is $3.62 on revenues of $2.85 billion [7] Group 3: Industry Context - The Consulting Services industry, to which CBIZ belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact CBIZ's stock performance [5][6]

CBIZ (CBZ) Q2 2025 Earnings Call July 30, 2025 05:00 PM ET Company ParticipantsLori Novickis - Director of Corporate RelationsJerry Grisko - President & CEOBrad Lakhia - SVP & CFOChristopher Moore - Director & CEOConference Call ParticipantsAndrew Nicholas - Research Analyst - Global ServicesMarc Riddick - Senior Equity AnalystOperatorGood day, and welcome to the CBIZ Second Quarter twenty twenty five Results Conference Call. All participants will be in listen only mode. By pressing the star key followed by ...

CBIZ (CBZ) Q2 2025 Earnings Call July 30, 2025 05:00 PM ET Speaker0Good day, and welcome to the CBIZ Second Quarter twenty twenty five Results Conference Call. All participants will be in listen only mode. By pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on a touch tone phone.To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn t ...

Investor Presentation SECOND QUARTER 2025 July 30, 2025 CBIZ.COM | NYSE: CBZ Forward-Looking Statements 2 Non-GAAP Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we also present Adjusted Net Income (Loss), Adjusted Diluted Earnings Per Share ("EPS"), and Adjusted EBITDA, which are non-GAAP measures. These non-GAAP measures are adjusted to exclude the impact of the Transaction, integration costs, amortization of acquired intangible asse ...

CBIZ REPORTS SECOND-QUARTER 2025 RESULTS Exhibit 99.1 SECOND-QUARTER HIGHLIGHTS: FOR IMMEDIATE RELEASE SIX-MONTH HIGHLIGHTS: CLEVELAND (July 30, 2025) – CBIZ, Inc., (NYSE: CBZ) ("CBIZ" or the "Company"), a leading national professional services advisor, today announced results for the second quarter ended June 30, 2025. "We're pleased to deliver strong earnings in the second quarter and year-to-date demonstrating the strength and resilience of our business model amidst challenging market conditions," said J ...

CLEVELAND, July 16, 2025 (GLOBE NEWSWIRE) -- CBIZ, Inc. (NYSE: CBZ) (the “Company”), a leading national professional services advisor, will announce its financial results for the second-quarter and first-half periods ended June 30, 2025, after markets close on Wednesday, July 30, 2025. A conference call to discuss the Company’s financial results will be hosted by CBIZ President and Chief Executive Officer Jerry Grisko and Chief Financial Officer Brad Lakhia at 5 p.m. (ET) on Wednesday, July 30, 2025. The co ...

PART 1: I first began my examination of CBIZ, Inc. (NYSE: CBZ ) in February 2025, only to set it aside for later, further examination. At that time, I was considering a strong buy recommendation. I completed this article in mid-July 2025, six months later, as noted below, andFull name for licenses is Anthony Joseph ("A.J.") Cataldo II, PhD, CPA. Retired university accounting professor, CMA, CGMA and author of 10 books and 200+ articles and columns in 50+ different journals and outlets, with experience as CF ...

Industry Overview - The Consulting Services industry is facing challenges due to ongoing geopolitical tensions, tariff uncertainties, and fears of an economic slowdown through 2026, leading to budget cuts and delayed decision-making [1][5] - Despite these challenges, strong demand for AI-driven transformation and corporate cost optimization efforts are providing some resilience [1] - The industry is expected to continue its exponential growth beyond 2025, building on momentum from the post-2008 financial crisis [3] Economic Conditions - Recent economic activity has slowed, with GDP declining at an annual rate of 0.5% in Q1 2025, following a 2.4% increase in Q4 2024 [5] - The services sector contracted for the first time since June 2024, with the ISM Services PMI dropping to 49.9, indicating cautious corporate spending [5] Industry Performance - The Consulting Services industry has underperformed compared to the S&P 500 and the broader sector, losing 8.3% over the past year while the S&P 500 gained 11.3% [9] - The industry currently has a Zacks Industry Rank of 165, placing it in the bottom 32% of 244 Zacks industries, indicating a challenging outlook [6] Valuation Metrics - The industry is trading at a forward 12-month price-to-earnings (P/E) ratio of 24.51X, higher than the S&P 500's 22.13X and the sector's 21.94X [12] Key Companies Stantec Inc. (STN) - Stantec provides professional services in infrastructure and facilities, benefiting from strong macroeconomic drivers and effective internal strategies [16][17] - The Zacks Consensus Estimate for Stantec's 2025 EPS is $3.86, reflecting a nearly 1% increase in the past 30 days [18] CBIZ, Inc. (CBZ) - CBIZ is a major provider of financial, insurance, and advisory services for middle-market businesses, entering a strong growth phase due to strategic expansion [21][22] - The Zacks Consensus Estimate for CBIZ's 2025 EPS is $3.62, remaining unchanged in the past 30 days [23] Charles River Associates (CRAI) - CRAI offers economic, financial, and management consulting services, focusing on high-quality analytical and strategic consulting across diverse industries [26][27] - The Zacks Consensus Estimate for CRAI's 2025 EPS is $8, unchanged in the past 30 days [29]

Core Points - InMed Pharmaceuticals has appointed CBIZ as its new auditor following the resignation of Marcum LLP due to CBIZ's acquisition of Marcum's attest business, effective June 12, 2025 [1][2] - The resignation of Marcum was not due to any disagreements regarding InMed's financial statements, and previous audit reports did not contain adverse opinions [2] - A special meeting of shareholders was held but no business was conducted due to lack of quorum, resulting in no vote on the proposed issuance of 20% or more of the Company's common shares [3] - InMed has amended its Standby Equity Purchase Agreement (SEPA) with Yorkville, allowing for a temporary suspension of the use of its existing registration statement during a "Black Out Period" [4][5] - During any Black Out Period, Yorkville is prohibited from selling shares under the registration statement, but may sell through other legal exemptions [5][6] Company Overview - InMed Pharmaceuticals focuses on developing proprietary small molecule drug candidates targeting diseases with high unmet medical needs, including Alzheimer's and dermatological conditions [8]

Revenue and Income - Revenue for Q1 2025 increased by $343.7 million, or 69.5%, to $838.0 million compared to $494.3 million in Q1 2024[77] - Net income for Q1 2025 was $122.8 million, or $1.91 per diluted share, up from $76.9 million, or $1.53 per diluted share in Q1 2024[77] - Revenue from newly acquired operations contributed $333.4 million, or 66.8% of the incremental revenue for Q1 2025[77] - For the three months ended March 31, 2025, the Financial Services practice group revenue increased by 91.5% to $713.7 million from $372.6 million in the same period of 2024, primarily driven by traditional accounting and tax-related services[96] - The Benefits and Insurance Services practice group revenue increased by $4.6 million, or 4.2%, to $113.0 million, primarily due to increases in payroll-related services and employee benefit services[100] - The National Practices group revenue decreased by $1.9 million, or 14.2%, to $11.4 million, primarily due to a divestiture in the same period of 2024[103] Operating Expenses - Total operating expenses for Q1 2025 increased by $233.4 million, or 62.0%, to $609.9 million compared to $376.5 million in Q1 2024[85] - Operating expenses as a percentage of revenue decreased to 72.8% in Q1 2025 from 76.2% in Q1 2024[85] - Personnel costs increased by approximately $194.1 million in Q1 2025, primarily due to acquisitions and divestitures[86] - G&A expenses for Q1 2025 were $28.1 million, or 3.3% of revenue, compared to $18.7 million, or 3.8% of revenue in Q1 2024[87] - Operating expenses for the Financial Services practice group rose by $244.9 million, or 92.2%, to $510.5 million, with personnel costs increasing by $194.7 million largely due to acquisitions[98] - Operating expenses for the Benefits and Insurance Services practice group increased by $1.7 million, or 2.1%, to $85.4 million, with personnel costs rising by $0.9 million[101] - Total corporate general and administrative expenses increased by $9.4 million, or 50.0%, during the three months ended March 31, 2025, largely due to higher legal and professional services costs associated with a transaction[108] Income Tax and Other Income - The income tax expense for the three months ended March 31, 2025 was $50.1 million, an increase of 84.8% compared to $27.1 million in the same period of 2024, driven by higher pre-tax income[93] - Other income (expense), net for the three months ended March 31, 2025 included a net loss of $2.6 million related to the deferred compensation plan, compared to a net gain of $9.6 million in the same period of 2024[91] - Total other income (expense), net for the three months ended March 31, 2025 was $(27.6) million, a decrease of $32.4 million compared to a gain of $4.8 million in the same period of 2024[107] - Total other (expense) income, net decreased by $32.4 million in Q1 2025 compared to Q1 2024, primarily due to a net loss of $2.6 million associated with the deferred compensation plan[109] Cash Flow and Debt - Cash used in operating activities was $88.3 million in Q1 2025, consisting of a working capital use of $247.7 million, offset by net income of $122.8 million[114] - Cash provided by financing activities was $55.4 million in Q1 2025, primarily from $127.5 million in net proceeds from the credit facility[117] - The company has $1,548.4 million outstanding debt under the 2024 Credit Facilities as of March 31, 2025[79] - Outstanding debt under the 2024 Credit Facilities was $1,548.4 million as of March 31, 2025, with available funds of approximately $384.0 million[119] - The weighted average interest rate under the 2024 Credit Facilities increased to 6.57% in Q1 2025 from 5.23% in Q1 2024[119] - Interest expense for the three months ended March 31, 2025 was $25.2 million, a significant increase from $4.5 million in the same period of 2024, driven by a higher average debt balance of $1,443.4 million[89] - The outstanding balance under the 2024 Credit Facilities was $1,548.4 million as of March 31, 2025, with $1,348.4 million subject to interest rate risk[136] - A 100 basis point change in market rates would result in an annual interest expense fluctuation of approximately $13.5 million[136] Share Repurchase and Acquisitions - The company repurchased 0.1 million shares of common stock for approximately $7.7 million during Q1 2025[80] - The company authorized the purchase of up to 5.0 million shares under its share repurchase program, which expires on March 31, 2026[81] - No acquisitions were completed in Q1 2025, but the company repurchased 0.1 million shares for tax withholding purposes at a cost of approximately $7.7 million[121] Compliance and Risks - The company remains in compliance with financial covenants under the 2024 Credit Facilities as of March 31, 2025[120] - The company is subject to risks related to processing customer transactions, which could materially affect its business and financial condition[132] - The company may incur transaction, integration, and restructuring costs associated with its acquisition program, impacting financial performance[132] - Changes in the U.S. healthcare environment may adversely affect revenue and margins in the healthcare benefit business[132] - The company faces competition in the business services industry, which could negatively impact its financial condition and results of operations[132] - Cybersecurity risks, including potential breaches of computer systems, could materially affect the company's business[132] - The company’s increased leverage following the transaction may adversely impact its business and sensitivity to revenue fluctuations[132] Cash Management - Cash used in investing activities was $5.0 million in Q1 2025, primarily for capital expenditures of $5.2 million[115] - The company segregates funds collected from clients for payroll operations, investing them in short-term investments classified as available-for-sale securities[139] - Cash requirements for 2025 include repayment of outstanding debt, strategic acquisitions, and seasonal working capital needs, with expected sufficiency from operational cash flows[122] Receivables Management - Days sales outstanding (DSO) improved to 96 days in Q1 2025 from 101 days in Q1 2024, indicating better receivables collection efficiency[112]