NEW YORK, Sept. 10, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating CBIZ, Inc. (NYSE: CBZ), relating to its proposed merger with Marcum, LLP. Under the terms of the agreement, it is anticipated that approximately half of the transaction consideration will be ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 Par Value CBZ New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

CBIZ, Inc. (NYSE:CBZ) Q2 2024 Earnings Conference Call July 31, 2024 11:00 AM ET Company Participants Lori Novickis - Director-Corporate Relations Jerry Grisko - President & Chief Executive Officer Ware Grove - Senior Vice President & Chief Financial Officer Chris Spurio - President, Financial Services division Conference Call Participants Chris Moore - CJS Securities Andrew Nicholas - William Blair Marc Riddick - Sidoti Operator Good morning, and welcome to the CBIZ Second Quarter and First Half 2024 Resul ...

ACCOUNTING | INSURANCE | ADVISORY Second Quarter 2024 July 31, 2024 Except certain related non-recurring legal and professional services costs incurred, this presentation does not include the impact of the announced acquisition of Marcum, LLP ("Marcum") that is expected to close in the fourth quarter, subject to the satisfaction of various closing conditions, including the approval of the Company's stockholders. CBIZ.COM | NYSE: CBZ Investor Presentation Forward-Looking Statements Forward-looking statements ...

CBIZ REPORTS SECOND-QUARTER AND FIRST-HALF 2024 RESULTS • TOTAL REVENUE UP 7.2%; SAME-UNIT REVENUE UP 4.4% • GAAP EPS DOWN 3.0%; ADJUSTED EPS UP 1.5%; INCLUDES MARCUM ACQUISITIONRELATED EXPENSE OF $6.7M • NET INCOME DOWN 3.3%; ADJUSTED EBITDA UP 1.0% FOR IMMEDIATE RELEASE CONTACT: Ware Grove Chief Financial Officer -or-Lori Novickis Director, Corporate Relations -or-Amy McGahan Director of Corporate & Strategic Communications CBIZ, Inc. Cleveland, Ohio (216) 447-9000 SECOND-QUARTER HIGHLIGHTS: • TOTAL REVEN ...

CBIZ (CBZ) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.64 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for nonrecurring items. Over the last four quarters, the company has surpassed consensus EPS estimates two times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings ...

SECOND-QUARTER HIGHLIGHTS: TOTAL REVENUE UP 5.4%; SAME-UNIT REVENUE UP 2.8% GAAP EPS DOWN 26.4%; ADJUSTED EPS DOWN 9.1%; INCLUDES MARCUM ACQUISITION-RELATED EXPENSE OF $6.7M NET INCOME DOWN 26.3%; ADJUSTED EBITDA DOWN 6.9% SIX-MONTH HIGHLIGHTS: TOTAL REVENUE UP 7.2%; SAME-UNIT REVENUE UP 4.4% GAAP EPS DOWN 3.0%; ADJUSTED EPS UP 1.5%; INCLUDES MARCUM ACQUISITION-RELATED EXPENSE OF $6.7M NET INCOME DOWN 3.3%; ADJUSTED EBITDA UP 1.0% CLEVELAND, July 31, 2024 /PRNewswire/ -- CBIZ, Inc., (NYSE: CBZ) ("CBIZ" or t ...

UPON CLOSING: WILL SOLIDIFY CBIZ'S POSITION AS LEADING PROVIDER OF PROFESSIONAL ADVISORY SERVICES OF ITS KIND CLEVELAND, July 31, 2024 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading national provider of financial, insurance and advisory services, today announced that it has entered into a definitive agreement to acquire the non-attest business of Marcum, LLP ("Marcum"), which will make CBIZ the seventhlargest accounting services provider in the U.S. with approximately $2.8 billion in annu ...

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 Wednesday, July 31, 2024. The conference call will be webcast live on the investor relations page of the CBIZ website at https://cbiz.gcs-web.com/investor-overview. Investors can register at https://dpregister.com/sreg/10191052/fd1f3d903c to receive the dial-in number and a unique personal identification number. Participants may register at any time, includ ...

Financial Data and Key Metrics Changes - Total revenue for the first quarter increased by $39.7 million, or 8.7%, compared to the same quarter last year [25][23] - Adjusted earnings per share for the first quarter was $1.54, up 5.5% from $1.46 in the previous year [32] - The effective tax rate for the first quarter was 26.1%, slightly lower than 26.5% from a year ago [11] Business Line Data and Key Metrics Changes - Financial Services division revenue grew by 8.6%, with same-unit revenue up 5.1%, driven by strong performance in core Accounting, Advisory Services, and Government Health Care Consulting [26] - Benefits & Insurance division revenue increased by 8.3%, with same-unit revenue up 7.6%, reflecting strong client retention and market rates [27] - The Property and Casualty business reported increased service revenue and market rates, maintaining strong results despite a slight decline in the number of producers [29] Market Data and Key Metrics Changes - Days sales outstanding (DSO) increased to 101 days from 94 days a year ago, influenced by the extended California tax filing deadline and tax consulting work [9] - The company’s share price rose to $78.50 at March 31, up from $49.49 a year ago and $62.59 at year-end 2023 [28] Company Strategy and Development Direction - M&A activity remains a key growth strategy, with two acquisitions completed in the first quarter, EBK and CompuData, aimed at enhancing service offerings [10][42] - The company is focused on expanding its advisory services, particularly in private equity-related areas, to meet client demand [16][90] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business outlook for 2024, expecting total revenue growth in the range of 7% to 9% and GAAP earnings per share to increase by 13% to 15% [6] - The company noted that the recurring nature of its services provides stability through economic cycles, with continued signs of steady employment among clients [5] Other Important Information - Capital spending for the first quarter was $5.1 million, with expectations for full-year capital spending between $12 million and $15 million [11][4] - The company plans to use approximately $55 million for acquisitions in the first quarter, including earn-out payments [53] Q&A Session Summary Question: What is the status of the M&A pipeline? - Management indicated that the M&A pipeline remains strong, with a healthy number of transactions and sizes, having already closed two transactions this year [66] Question: How does the company view interest expense in 2024? - Interest expense increased by $870,000 in the first quarter, with a slight headwind expected in the first half of the year due to rising borrowing rates [50] Question: What are the trends in client industry verticals? - Management noted a reasonable level of optimism across various industries, with no significant concentration in any single sector, which helps mitigate risks [74] Question: What is the margin profile of advisory services compared to core tax and accounting? - Advisory services generally have higher margins, estimated to be 400 to 500 basis points higher than core tax and accounting services [91]