CBIZ(US:CBZ) Globenewswire·2025-07-30 20:05Core Insights - CBIZ, Inc. reported strong financial results for the second quarter and the first half of 2025, highlighting the resilience of its business model amid challenging market conditions [1][2][4] Financial Performance - For Q2 2025, CBIZ achieved revenue of $683.5 million, a 62.7% increase from $420.0 million in Q2 2024. Net income rose to $41.9 million, or $0.66 per diluted share, compared to $19.8 million, or $0.39 per diluted share, in the same period last year [2][20] - Adjusted net income for Q2 2025 was $60.5 million, up from $29.5 million in Q2 2024, with adjusted earnings per share increasing by 63.8% to $0.95 [3][20] - For the first half of 2025, total revenue reached $1.52 billion, a 66.4% increase from $914.3 million in the same period of 2024. Net income for the six months was $164.7 million, or $2.58 per diluted share, compared to $96.7 million, or $1.92 per diluted share, in the prior year [4][24] Adjusted Financial Metrics - Adjusted EBITDA for Q2 2025 was $117.2 million, reflecting a 127.9% increase from $51.4 million in Q2 2024. For the first half of 2025, adjusted EBITDA was $355.6 million, compared to $170.2 million in the same period of 2024 [3][5][24] Strategic Outlook - The company anticipates total revenue of approximately $2.8 billion to $2.95 billion for 2025, with net income projected at $164.7 million, representing a 70.4% increase [6][7] - The effective tax rate is expected to be around 29%, with diluted earnings per share forecasted to be between $1.97 and $2.02 [7][8] Segment Performance - In Q2 2025, the Financial Services segment generated $569.8 million in revenue, while Benefits and Insurance Services contributed $101.9 million. For the first half, Financial Services revenue was $1.28 billion [27][24] Cash Flow and Balance Sheet - For the first half of 2025, net cash provided by operating activities was $24.4 million, with a net decrease in cash and cash equivalents of $20.7 million [30][33]