CBIZ Inc ( (CBZ) ) has released its Q4 earnings. Here is a breakdown of the information CBIZ Inc presented to its investors.
CBIZ, Inc. is a prominent national professional services advisor, offering expertise in accounting, tax, advisory, benefits, insurance, and technology to middle-market businesses across the United States. The company is known for its forward-thinking insights and solutions that help clients accelerate growth.
In its latest earnings report, CBIZ announced a significant increase in revenue for both the fourth quarter and the full year of 2024. The company’s revenue surged by 40.5% in the fourth quarter, largely due to the acquisition of Marcum LLP, marking the largest acquisition in CBIZ’s history. For the full year, revenue increased by 14%, with a notable rise in same-unit revenue.
Key financial highlights include a full-year GAAP earnings per share of $0.78 and an adjusted earnings per share of $2.67, reflecting a 10.8% increase from the previous year. The acquisition of Marcum LLP contributed significantly to these results, with the transaction and integration costs impacting the financial metrics. The company also entered a new $2.0 billion credit facility to support this acquisition.
Looking ahead, CBIZ has provided an optimistic outlook for 2025, projecting total revenue between $2.90 billion and $2.95 billion. The company expects GAAP earnings per share to range from $1.97 to $2.02, with adjusted earnings per share anticipated between $3.60 and $3.65. CBIZ’s management remains confident in its strategic direction and the opportunities presented by the Marcum acquisition.
Overall, CBIZ’s strong financial performance and strategic acquisitions position the company well for continued growth and expansion in the professional services sector.