CBIZ, Inc. (CBZ) Misses Q2 EPS by 9c, offers guidance

CBIZ, Inc. (NYSE: CBZ) reported Q2 EPS of $0.55, $0.09 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $398.5 million versus the consensus estimate of $392.37 million.

2023 Outlook

The Company increased its revenue growth expectations to within a range of 10% to 12% over the prior year, up from previous guidance of within a range of 8% to 10%.
The Company expects an effective tax rate of approximately 28%. The increased rate, up from 25.5% in 2022, will impact diluted earnings per share by approximately $0.08.
The Company expects a weighted average fully diluted share count of approximately 50.5 to 51.0 million shares.
The Company expects GAAP fully diluted earnings per share to grow within a range of 15% to 17%, to $2.31 to $2.36 per share, over the $2.01 per share reported for 2022.
The Company expects Adjusted fully diluted earnings per share to grow within a range of 11% to 13%, to $2.36 to $2.41 per share over the Adjusted earnings per share, of $2.13 per share reported for 2022.

For earnings history and earnings-related data on CBIZ, Inc. (CBZ) click here.

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