CBZ

Financial Results Announcement: CBIZ, Inc. will release its financial results for Q1 2025 on April 24, 2025, before market opening, followed by a conference call at 11 a.m. (ET) to discuss the results.

Company Overview: CBIZ is a national professional services advisor specializing in various sectors including accounting and technology, with over 10,000 employees across more than 160 locations.

Marcum's Stake Sale: Accounting firm Marcum has sold its remaining 50% stake in its Asia business to the founders of Marcum Asia CPAs, following its acquisition by CBIZ last year.

Background Information: The transaction was confirmed by CBIZ senior adviser Jeff Weiner and Marcum Asia Co-Chair Drew Bernstein, indicating a complete divestiture of Marcum's interests in the Asian market.

Investment Performance: Headwaters Capital Management reported a -9.0% return in Q1 2025, underperforming the Russell Mid Cap Index, as small-cap equities struggled amid economic uncertainties.

Focus on CBIZ, Inc.: The firm highlighted CBIZ, Inc. as a promising investment, noting its strong cash flow and potential for growth despite recent stock price declines, with a target price suggesting significant upside.

Moss Adams and Baker Tilly Merger Talks: Accounting firm Moss Adams is in advanced negotiations for a private-equity investment through a merger with Baker Tilly.

Potential Revenue Impact: The merger could create a combined firm with over $3 billion in annual revenue, positioning it as the sixth-largest accounting firm in the U.S.

CBIZ Inc Trading Update: Shares of CBIZ Inc (CBZ) have entered oversold territory with an RSI reading of 27.6, indicating potential exhaustion of recent selling pressure, as the stock trades around $76.72, between its 52-week low of $62.655 and high of $90.13.

Market Comparison: The current RSI for the S&P 500 ETF (SPY) is at 39.7, suggesting that CBZ's lower RSI may present a buying opportunity for bullish investors looking for entry points.

Q4 Financial Performance: CBIZ reported a Q4 revenue of $460.28 million, an increase from $327.55 million last year, with same-unit revenue up 6.4%.

Company Outlook: CEO Jerry Grisko expressed optimism about the future following the acquisition of Marcum, highlighting the expanded service offerings and expertise that solidify CBIZ's position as a leading provider for middle-market businesses.

Financial Projections: CBIZ anticipates FY25 revenue between $2.9B and $2.95B, with adjusted EBITDA of $450M to $456M and an effective tax rate of 29%.

Growth Performance: The company reported a 6.4% increase in same-unit revenue for Q4 and a 4.8% rise for the full year, excluding the impact of the Marcum acquisition, which contributed to a total revenue growth of 7.1%.

Q4 Financial Performance: CBIZ reported a Q4 Non-GAAP EPS of -$0.20 and revenue of $460.28 million, reflecting a 40.5% year-over-year increase.

2025 Financial Outlook: The company anticipates total revenue between $2.90 billion and $2.95 billion, with adjusted fully diluted EPS projected to be in the range of $3.60 to $3.65.

Fourth-Quarter and Full-Year Financial Performance: CBIZ, Inc. reported a 40.5% increase in fourth-quarter revenue to $460.3 million, driven by the acquisition of Marcum LLP, while full-year revenue rose 14% to $1.81 billion. Adjusted EPS for 2024 was $2.67, up 10.8% from the previous year.

2025 Outlook: The company anticipates total revenue between $2.90 billion and $2.95 billion for 2025, with GAAP EPS projected between $1.97 and $2.02 per diluted share, reflecting continued growth following the Marcum acquisition.

Financial Results Announcement: CBIZ, Inc. will release its financial results for Q4 and the full year ending December 31, 2024, on February 26, 2025, before market opening, followed by a conference call at 11 a.m. (ET) to discuss the results.

Company Overview: CBIZ is a national professional services advisor specializing in accounting, tax, advisory, benefits, insurance, and technology, with over 10,000 employees across more than 160 locations nationwide.

New Appointments at CBIZ: CBIZ, Inc. has appointed six new national industry leaders to enhance its expertise in various sectors following the integration of Marcum, effective February 1, 2025.

Leaders' Expertise: The newly appointed leaders bring extensive experience across industries such as technology, private equity, not-for-profit, consumer products, and real estate, aiming to provide tailored services and insights to clients.

Appointment Announcement: CBIZ, Inc. has appointed Kathy Raffa as an independent director on its Board of Directors, effective January 15, 2025, following the acquisition of Marcum's non-attest assets.

Professional Background: Kathy Raffa brings over 40 years of experience in audit and consulting services, particularly in the nonprofit sector, having previously served as President of Raffa, PC and Office Managing Partner at Marcum.

Concerns Over Tariffs: A recent survey indicates that 53% of CEOs are worried about the financial impact of proposed tariffs, leading to potential operational changes such as relocating production, workforce reductions, and delayed investments.

Mixed Views on Tax Policies: The survey reveals divided opinions among CEOs regarding the benefits of recent tax reforms, with many experiencing moderate gains but a significant portion reporting no tangible benefits, highlighting the complexity of tax-driven economic policies.

Construction Industry Trends: The CBIZ Commercial Construction Index indicates that nonresidential construction is thriving due to infrastructure and manufacturing projects, while residential construction has slowed despite a persistent housing shortage.

Economic Factors: Job growth in the construction sector continues, aided by lower material costs, but uncertainty remains regarding future trade policies and interest rates, which could impact borrowing and construction costs.

Hiring Trends: The CBIZ Small Business Employment Index reported a 0.83% decrease in hiring for November, marking the third consecutive month of declines, with small businesses losing 17,000 jobs despite overall growth in private-sector employment.

Regional and Industry Insights: The West region saw an increase in hiring, while the Southeast experienced the largest decline; job losses were prevalent across many industries, particularly in Administrative and Support Services, Financial Services, and Not-for-Profit sectors.

Leadership Transition: Brad Lakhia will succeed Ware H. Grove as Senior Vice President and Chief Financial Officer of CBIZ, Inc. on March 17, 2025, following Grove's retirement after 24 years in the role.

Experience and Vision: Lakhia brings nearly 30 years of finance leadership experience from various global companies, including expertise in M&A integration and operational finance, which he aims to leverage for CBIZ's continued growth and success.

New CFO Appointment: CBIZ, Inc. has announced that Brad Lakhia will become the new Senior Vice President and Chief Financial Officer (CFO) on March 17, 2025, succeeding Ware Grove who is retiring after 24 years in the role.

Lakhia's Background: With nearly 30 years of experience in finance, Lakhia previously served as CFO at OPENLANE, Inc. and held a finance leadership position at The Goodyear Tire & Rubber Company.

New CFO Appointment: CBIZ, Inc. has announced that Brad Lakhia will become the new Senior Vice President and Chief Financial Officer, succeeding Ware Grove who is retiring after 24 years in the role, with Lakhia starting on March 17, 2025.

Lakhia's Background: Lakhia brings nearly 30 years of experience in finance, previously serving as CFO at OPENLANE, Inc. and holding a VP position at The Goodyear Tire & Rubber Company.

New CFO Appointment: CBIZ has appointed Brad Lakhia as its new CFO and senior vice president, succeeding Ware Grove who is retiring after 24 years in the role.

Lakhia's Background: Lakhia, set to take over on March 17, brings nearly three decades of experience, having most recently served as the CFO of OPENLANE.

Small Business Employment Trends: The CBIZ Small Business Employment Index reported a 0.58% decrease in October, marking the second consecutive month of decline and indicating broader labor market challenges for small businesses.

Regional and Industry Insights: While the West region saw an increase in hiring, other regions experienced declines; industries like Insurance and Technology showed job gains, whereas Construction and Real Estate faced significant losses.