CLEVELAND--(BUSINESS WIRE)--CBIZ, Inc. (NYSE: CBZ), a leading provider of financial, insurance and advisory services, has released the results of its Q1 2024 Main Street Index, taking the pulse of and gauging the outlook for small and mid-sized businesses (SMBs). Companies reported a notable positive shift in economic sentiment, with only 33% reporting concerns about interest rates affecting their bottom line, compared to 61% in the third quarter of 2023. Still, more than four in 10 businesses (44%) have so ...

CBIZ, Inc. (NYSE:CBZ) Q4 2023 Earnings Conference Call February 15, 2024 11:00 AM ET Company Participants Lori Novickis - Director of Corporate Relations Jerry Grisko - President and Chief Executive Officer Ware Grove - Chief Financial Officer Conference Call Participants Chris Moore - CJS Securities Andrew Nicholas - William Blair Marc Riddick - Sidoti Operator Good morning, everyone, and welcome to the CBIZ Fourth Quarter 2023 Results Conference Call. All participants will be in a listen-only mode. [Opera ...

ACCOUNTING | INSURANCE | ADVISORY Fourth Quarter & Full Year 2023 Investor Presentation February 15, 2024 CBIZ.COM | NYSE: CBZ Forward-Looking Statements & Non-GAAP Measures Forward-looking statements in this presentation are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties in ...

FOURTH-QUARTER HIGHLIGHTS: TOTAL REVENUE UP 11.0%; SAME-UNIT REVENUE UP 6.8% FULL-YEAR HIGHLIGHTS: TOTAL REVENUE UP 12.7%; SAME-UNIT REVENUE UP 7.4% GAAP EPS UP 18.9%; ADJUSTED EPS UP 13.1% NET INCOME UP 14.8%; ADJUSTED EBITDA UP 17.7% 2024 OUTLOOK: TOTAL REVENUE UP 7% TO 9% GAAP EPS UP 13% TO 15%; or $2.70 TO $2.75 ADJUSTED EPS UP 12% TO 14%; or $2.70 TO $2.75 CLEVELAND, Feb. 15, 2024 /PRNewswire/ -- CBIZ, Inc., (NYSE: CBZ) ("CBIZ", or the "Company"), a leading provider of financial, insurance and ad ...

CLEVELAND , Jan. 31, 2024 /PRNewswire/ -- CBIZ, Inc., (NYSE: CBZ) ("the Company") a leading provider of financial, insurance and advisory services, will announce its financial results for the fourth quarter and full year ended December 31, 2023, before markets open on Thursday, February 15, 2024. A conference call to discuss the Company's financial results will be hosted by CBIZ President and CEO Jerry Grisko and CFO Ware Grove at 11 a.m. (ET) on Thursday, February 15, 2024. The conference call will be webc ...

CBIZ, Inc. (NYSE:CBZ) Q3 2023 Earnings Conference Call October 26, 2023 11:00 AM ET Company Participants Lori Novickis - Director of Corporate Relations Jerry Grisko - President & Chief Executive Officer Ware Grove - Chief Financial Officer Conference Call Participants Chris Moore - CJS Securities Andrew Nicholas - William Blair Marc Riddick - Sidoti Operator Good morning, and welcome to the CBIZ's Third Quarter 2023 Conference Call. [Operator Instructions] Please note that this event is being recorded toda ...

~60,000 BUSINESS CLIENTS 8 National Resources & Expertise CBIZ, INC. | NYSE: CBZ 9 Accounting Provider Nationally 2023 by Accounting Today Government Health Care Consulting 100,000+ TOTAL CLIENTS CBIZ, INC. | NYSE: CBZ STRENGTH STRENGTH National Resources/Specialization National Providers Local / Regional Proximity and Relationship We out-local the nationals and out-national the locals. Top 12 Accounting Firms 2024 by Vault Revenue Operating Income Operating Margin $1.0B $160.0M 15.8% CBIZ, INC. | NYSE: CBZ ...

For the transition period from________ to ________ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth c ...

ACCOUNTING | INSURANCE | ADVISORY Second Quarter 2023 Investor Presentation CBIZ.COM | NYSE: CBZ Forward-looking statements in this presentation are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to: we may be more sensitive to revenue fluctuatio ...

Financial Data and Key Metrics - Total revenue for Q2 2023 increased by $36.6 million, up 10.1% YoY, with same-unit revenue up $15.0 million or 4.1% [31] - For the first half of 2023, total revenue grew by $99.4 million, up 13.2% YoY, with same-unit revenue up $53.9 million or 7.2% [38] - Adjusted EBITDA for the first half of 2023 was $167.8 million, up 12.9% YoY [41] - Adjusted earnings per share for the first half of 2023 was $2.01, up 11% YoY [41] - The company raised full-year revenue guidance to 10%-12% growth and affirmed adjusted EPS guidance of 11%-13% growth [10] Business Line Performance Financial Services - Q2 2023 total revenue grew by $31.6 million, up 12.2% YoY, with same-unit revenue up $10 million or 3.9% [8][18] - For the first half of 2023, total revenue grew by $86 million, up 15.7% YoY, with same-unit revenue up 7.4% [18] - Core accounting and tax services remained strong, with advisory services also showing strong demand [8] Benefits and Insurance - Q2 2023 same-unit revenue grew 4.5%, with 6.4% growth for the first half of 2023 [19] - Employee Benefits and Property & Casualty Insurance both saw high client retention rates above 90% [9] - The company continues to invest in hiring new business producers to drive growth [19] Market Performance - The Government Health Care consulting business, with $185 million in annual revenue, experienced delays in project work, impacting Q2 results [14][16] - The delayed tax filing in California impacted Q2 and first-half results, with an estimated $0.04 per share impact [34] - The company expects stronger results in the second half of 2023 for both Government Health Care and California tax work [37] Strategic Direction and Industry Competition - The company completed four acquisitions in the first half of 2023, including Somerset CPAs and Advisors, Pivot Point Security, and American Pension Advisors [40][70][72] - The M&A pipeline remains active, with a focus on strategic acquisitions to enhance service offerings [74] - The company is investing in cybersecurity and retirement plan consulting to meet growing client demand [70][72] Management Commentary on Operating Environment and Outlook - Management highlighted headwinds from higher interest rates and tax rates, impacting earnings by $0.09 and $0.04 per share, respectively [11][32] - The company expects expenses to normalize below pre-pandemic levels but acknowledges year-over-year headwinds [21] - Management remains optimistic about the second half of 2023, projecting stronger results and continued growth [37][90] Other Key Information - The company repurchased 975,000 shares in the first half of 2023 at a cost of $48.5 million [43] - Leverage stands at 2x adjusted EBITDA, with $178 million of unused capacity on a $600 million facility [22][47] - Capital spending for 2023 is expected to be $15 million to $20 million, primarily for tenant improvements and office facilities [94] Q&A Session Summary Question: Impact of the delayed Government Health Care consulting project - The delay of a significant contract renewal into 2024 impacted Q2 results, with immediate actions taken to align costs with projected revenue [77] Question: Cybersecurity opportunity and Pivot Point acquisition - The company has high client demand for cybersecurity services and sees Pivot Point as a strategic fit to enhance advisory offerings [79][80] Question: M&A pipeline and pricing trends - The M&A pipeline remains active, with no significant changes in pricing despite higher interest rates [81][82] Question: Investment in headcount and technology - The company continues to invest in new business producers, particularly in Benefits and Insurance, while maintaining technology spend at consistent levels [86][99] Question: Customer trends and economic outlook - Small and middle-market businesses remain optimistic, with rising interest rates and access to credit being noted but not materially impacting business [65]