CBIZ(US:CBZ)2023-07-28 00:58Company Overview - CBIZ has over 120 offices and 6,500 team members serving more than 100,000 clients nationwide[5] - The company's revenue is divided into Financial Services (72%) and Benefits & Insurance Services (25%), with National Practices contributing 3% in 2022[8] - CBIZ boasts a client retention rate of approximately 90%[13] Financial Performance & Growth - CBIZ's revenue grew from $922 million in 2018 to $1.412 billion in 2022, representing a 53.1% total growth and an 11.2% compound annual growth rate (CAGR)[57] - Pre-tax income increased from $79.8 million in 2018 to $141.5 million in 2022, a 77.3% total growth[57] - Adjusted earnings per share (EPS) have a compounded annual growth rate of 18.2% since 2018[53] Strategic Initiatives - The company focuses on organic growth and external growth through mergers and acquisitions (M&A)[39] - CBIZ's M&A strategy targets companies with cultural fit, a desire for a greater national platform, and enhanced client service capabilities[41] - Strategic acquisitions YTD amounted to $84.2 million[75] 2023 Outlook - The company anticipates revenue growth between 10% and 12% for 2023[44] - GAAP EPS growth is projected between 15% and 17%, while adjusted EPS growth is expected to be between 11% and 13%[44] - The weighted average fully diluted share count is estimated to be between 50.5 million and 51.0 million[44]