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]

Such risks and uncertainties include, but are not limited to: we may be more sensitive to revenue fluctuations than other companies, which could result in fluctuations in the market price of our common stock; payments on accounts receivable may be slower than expected, or amounts due on receivables or notes may not be fully collectible; we are dependent on the services of our executive officers, other key employees, producers and service personnel, the loss of whom may have a material adverse effect on our ...

(1) NOTE 9. EMPLOYEE STOCK PLANS (1) 13 NOTE 10. EARNINGS PER SHARE (2) NOTE 11. SEGMENT DISCLOSURES | --- | --- | --- | |------------------------------------|------------------------------------------|-------------------------------------------------------------------------| | Financial Services | Benefits and Insurance Services | National Practices | | Accounting and Tax | Employee Benefits Consulting | Information Technology Managed Networking and Hardware Services | | Financial Advisory | Payroll / Huma ...

Exhibit 99.1 CBIZ REPORTS FIRST-QUARTER 2024 RESULTS CLEVELAND (April 25, 2024) – CBIZ, Inc., (NYSE: CBZ) ("CBIZ" or the "Company"), a leading provider of financial, insurance and advisory services, today announced results for the first quarter ended March 31, 2024. Excluding non-recurring first-year integration expenses related to the previously announced acquisitions of Erickson, Brown & Kloster, LLC ("EBK") and CompuData, Inc. ("CompuData") during the first quarter of 2024, and similar expenses related t ...

CLEVELAND, April 11, 2024 /PRNewswire/ -- CBIZ, Inc., (NYSE: CBZ) ("the Company") a leading provider of financial, insurance and advisory services, will announce its financial results for the first quarter ended March 31, 2024, before markets open on Thursday, April 25, 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, April 25, 2024. The conference call will be webcast live on the investor ...

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has CBIZ (CBZ) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.CBIZ is a member of our Business Services group, which includes 315 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different ...

CLEVELAND--(BUSINESS WIRE)--CBIZ, Inc. (NYSE: CBZ), a leading national provider of financial, insurance, and advisory services, has announced the honorees of its fourth annual Women Transforming Business Awards powered by CBIZ Women’s Advantage. Honorees for these awards are being announced today in celebration of International Women’s Day. The awards celebrate leaders nationwide acknowledging their significant contributions in five key categories: financial strength, innovation, culture, community impac ...

CLEVELAND, March 6, 2024 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) ("the Company"), a leading provider of financial, insurance and advisory services, announced today it has acquired technology solutions provider, CompuData, Inc. (CompuData), of Philadelphia, PA, effective March 1, 2024. Founded in 1971, CompuData is a premier technology solutions provider for small and midsize organizations. They provide cloud computing, accounting ERP software, managed IT and security to clients with the tools to scale, prote ...