Overview
CBIZ Q3 revenue grows 58.1% but misses analyst expectations
Adjusted EPS for Q3 beats analyst estimates, indicating strong operational performance
Company sees improved growth due to better market conditions and Marcum acquisition synergies
Outlook
Company expects total revenue between $2.8 bln and $2.95 bln
Company anticipates adjusted EPS between $3.60 and $3.65
Company forecasts adjusted EBITDA between $450 mln and $456 mln
Result Drivers
MARCUM ACQUISITION - Co reports better-than-expected synergies from Marcum acquisition contributing to growth
MARKET CONDITIONS - Improved market conditions led to growth in non-recurring businesses
OPERATING EXPENSES - Higher operating expenses impacted net income despite revenue growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $693.81 mln | $709.18 mln (3 Analysts) |
Q3 Adjusted EPS | Beat | $1.01 | $0.89 (3 Analysts) |
Q3 Net Income | $30.14 mln | ||
Q3 Adjusted EBITDA | $120.02 mln | ||
Q3 Operating Expenses | $603.68 mln | ||
Q3 Operating Income | $58.86 mln |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy."
Wall Street's median 12-month price target for CBIZ Inc is $95.00, about 45% above its October 28 closing price of $52.25
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 19 three months ago
Press Release: ID:nGNX4hl2PH
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)