CBIZ (CBZ) Beats Q3 Earnings and Revenue Estimates

Core Viewpoint - CBIZ reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.75 per share, and showing an increase from $0.66 per share a year ago, representing a 12% earnings surprise [1] Financial Performance - The company posted revenues of $438.88 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.41%, and up from $410.54 million year-over-year [2] - Over the last four quarters, CBIZ has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - CBIZ shares have increased approximately 6.8% since the beginning of the year, while the S&P 500 has gained 22.1% [3] - The current status of estimate revisions for CBIZ is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.15 on revenues of $351.4 million, and for the current fiscal year, it is $2.64 on revenues of $1.7 billion [7] - The outlook for the consulting services industry, where CBIZ operates, is favorable, as it is currently in the top 30% of Zacks industries, suggesting potential for outperformance [8] Industry Context - Hackett Group, another company in the consulting services industry, is expected to report quarterly earnings of $0.40 per share, reflecting a year-over-year change of -2.4%, with revenues anticipated at $75.15 million, up 0.7% from the previous year [9][10]