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Overview
CBIZ Inc (CBZ) is a premier professional services firm specializing in accounting, tax advisory, and comprehensive financial services. Recognized for its expertise in providing business and employee solutions, CBIZ has established itself as a trusted advisor to middle-market businesses and organizations nationwide. With a strong emphasis on accuracy and client-centric strategies, the company integrates deep industry knowledge with actionable insights to help clients optimize their financial and human capital management.
Core Business Areas
At its core, CBIZ Inc delivers a broad spectrum of professional services that include:
- Financial Services: Accounting, tax, financial advisory, transaction services, government health care consulting, risk advisory, and valuation services form the backbone of this segment. These services are designed to help clients manage financial operations efficiently while ensuring compliance and strategic growth.
- Benefits and Insurance Services: As one of the nation’s largest brokers for employee benefits and property & casualty insurance, the company offers customized solutions such as retirement plan consulting, payroll services, life and disability insurance, and human resources consulting. These services empower clients to manage their workforce benefits with precision.
- National Practices: This practice group aggregates specialized services including real estate consulting, specialized advisory services, and executive recruitment. These offerings are tailored to meet the nuanced needs of various sectors, ensuring comprehensive support for business operations.
Market Position and Competitive Landscape
CBIZ Inc stands out in the competitive landscape by leveraging its diversified service model and extensive geographical presence. With offices spanning multiple states, the company has positioned itself as a vital resource for businesses across sectors such as banking and financial services, commercial real estate, construction, health care, manufacturing, non-profit organizations, education, technology, and life sciences. The firm's unique combination of multifaceted expertise and a high rate of recurring revenue underscores its resilience in a dynamic market environment. Despite operating in a fragmented industry, CBIZ differentiates itself through its integrated approach, providing end-to-end solutions rather than siloed offerings.
Expertise and Industry Insight
The company is noted for its precise analytical approach and deep industry insights. CBIZ’s team of professionals, known for its extensive experience in areas such as risk analytics and financial forecasting, provides clients with robust, data-driven strategies that address both daily operational requirements and long-term strategic needs. This expertise is not limited to traditional financial and accounting services; it extends into employee benefits consulting, government health care advisory, and a diverse array of consulting services aimed at helping clients navigate challenging economic landscapes.
Client-Centric Approach and Operational Excellence
A significant aspect of CBIZ Inc’s identity is its commitment to personalized, client-centric service. The firm employs an approach that is both consultative and collaborative, ensuring that clients receive tailored solutions that align with their unique business needs. This methodical approach enables clients to streamline their operations, mitigate risks, and enhance overall organizational performance. By maintaining high standards of quality and accountability, CBIZ fosters long-lasting relationships built on trust and mutual success.
National Reach and Capabilities
With an expansive network of offices and a presence in diverse geographic regions of the United States, CBIZ Inc is well-equipped to serve clients nationwide. The company’s operational model is designed to address various scales of business requirements—from localized support to national strategic planning. Its robust infrastructure allows it to efficiently manage large-scale projects and adapt to regional market trends without compromising on service quality.
Integration of Services and Strategic Value
By consolidating its service offerings into three distinct yet interrelated practice groups, CBIZ Inc ensures that clients benefit from a holistic suite of services without facing the challenges of dealing with multiple vendors. This integrated service delivery model not only streamlines client operations but also enhances the overall value proposition. Each service area is anchored by industry-leading expertise and operational proficiency, reinforcing the company’s position as a comprehensive advisor in the professional services domain.
Commitment to Expertise and Continuous Improvement
Central to the company’s philosophy is a commitment to continuous improvement and industry leadership. CBIZ Inc invests in ongoing professional development and technological innovation, which enables it to keep pace with evolving market regulations and emerging trends. This forward-thinking approach has allowed the firm to maintain robust operational performance even in complex and volatile market conditions, ensuring that clients benefit from both proven methodologies and innovative solutions.
Conclusion
In summary, CBIZ Inc (CBZ) is an established professional services provider with an extensive portfolio that spans financial and accounting services, risk management, employee benefits, insurance, and strategic advisory. Its integrated approach, profound industry expertise, and nationwide reach make it a comprehensive and trusted partner for middle-market businesses. By consistently delivering high-quality, customized solutions, CBIZ reinforces its reputation as an authoritative and reliable advisor in an ever-evolving business landscape.
CBIZ reported strong second-quarter results for 2021, achieving $278.6 million in revenue, a 17.6% increase year-over-year. Growth was fueled by acquired operations, contributing $16.9 million, and a 10.5% rise in same-unit revenue. However, income from continuing operations fell to $8.6 million due to a $30.5 million pretax charge from a settlement. Adjusted EPS rose to $0.50, a 28.2% increase. For 2021, the company raised its revenue growth guidance to 10%-12%, with expectations for adjusted diluted EPS growth of 12%-15%.
CBIZ, Inc. (NYSE: CBZ) will announce its financial results for the second quarter and first half of 2021 on July 29, 2021, before market open. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove is scheduled for 11:00 a.m. ET on the same day, with a live webcast available on the investor relations page. Investors can pre-register for the call to obtain access details. CBIZ provides a range of financial, insurance, and advisory services across the U.S., maintaining over 100 offices in 31 states.
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted increase of 0.34% in June, signaling growth in the small business sector. The index tracks payroll trends for over 3,600 companies with 300 or fewer employees. Notably, hiring rose in the Northeast by 2.77%, while the Southeast and West saw declines. Positive growth was noted in industries like Financial Services and Construction. However, concerns over staffing shortages persist, with 46% of businesses expressing unease. If current trends continue, longer-term growth is anticipated.
CBIZ, Inc. (NYSE: CBZ) announced a settlement agreement regarding a lawsuit filed by the University of Pittsburgh Medical Center, which sought compensatory damages between $124 million and $266 million related to actuarial services. CBIZ will pay a total of $41.5 million, expecting a one-time after-tax charge of approximately $22.8 million, impacting its 2021 earnings per share by about $0.42. The company aims to mitigate risks associated with ongoing litigation, allowing it to refocus on business growth. As of May, CBIZ reported strong cash flows and a healthy balance sheet.
CBIZ (NYSE: CBZ) has published its Q2 2021 Main Street Index, indicating a significant recovery for small and mid-sized businesses post-COVID-19. Business confidence surged by 11%, with 85% of respondents reporting positive outlooks. Revenue growth doubled, rising from 22% in Q1 to 52% in Q2. However, staffing challenges remain, with 46% of businesses expressing hiring concerns. Additionally, 57% of companies confirmed a shift to remote or hybrid work, while nearly half are encouraging employee vaccinations.
CBIZ, Inc. (NYSE: CBZ) has completed its acquisition of Schramm Health Partners, LLC, known as Optumas, effective June 1, 2021. Based in Scottsdale, Arizona, Optumas specializes in actuarial services for state Medicaid programs and generated around $10.9 million in annual revenue. This acquisition is aimed at enhancing CBIZ's government health care consulting services and offering more comprehensive solutions to clients. The leadership of both companies expressed excitement over the strategic combination, which is expected to boost future growth and improve client service delivery.
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decrease of 0.21% in May, following growth in April. This decline suggests small businesses may be reducing hiring after three months of increases. The Northeast region saw a hiring increase of 0.52%, while the Central, Southeast, and West regions reported declines of -0.28%, -0.39%, and -0.5%, respectively. Industries such as Arts, Entertainment, and Retail experienced hiring growth, while Professional Services and Healthcare faced declines.
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted increase of 3.57% for April, indicating heightened hiring efforts among small businesses. Tracking over 3,500 companies, the SBEI highlights significant employment growth, especially in the Northeast (5.94%) and West (3.97%). The report also notes a gain of 742,000 private-sector jobs and 235,000 new jobs in small businesses. Growth was particularly notable in the Arts and Entertainment, Agriculture, and Food Services sectors. However, future hiring trends may slow as the U.S. fully reopens.
CBIZ, Inc. (NYSE: CBZ) announced the acquisition of the non-attest assets of Berntson Porter & Company PLLC, effective May 1, 2021. This strategic move aims to establish a presence in the growing Pacific Northwest market, with Berntson Porter being one of the largest accounting firms in the region, generating approximately $26 million in annual revenue. CBIZ's President, Jerry Grisko, highlighted the strong cultural fit and commitment to client service, emphasizing the potential for expanded services and growth opportunities for both firms.
CBIZ, a provider of financial and advisory services, reported Q1 2021 revenues of $300.7 million, an 8.4% increase from Q1 2020. Acquisitions contributed $13.3 million to revenue growth. Income from continuing operations rose to $50.2 million ($0.92 per diluted share), up from $36.9 million ($0.66 per diluted share) year-over-year. Adjusted EBITDA increased to $73.3 million. The company announced the acquisition of Berntson Porter, enhancing its presence in the Pacific Northwest. CBIZ raised its full-year revenue growth guidance to 8%-10% and EPS growth to 12%-15%.
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