CBIZ Q1 2022 Earnings Report
Key Takeaways
CBIZ reported a strong first quarter in 2022, with revenue up 30.3% and same-unit revenue up 9.6%. GAAP EPS increased by 19.6%, and adjusted EPS rose by 28.3%. The company reaffirmed its guidance at the high end of the range provided in February.
Total revenue increased by 30.3%, with same-unit revenue up 9.6%.
GAAP EPS increased by 19.6%, while adjusted EPS increased by 28.3%.
Income from continuing operations increased by 15.8%, and adjusted EBITDA increased by 26.7%.
The company reaffirmed its full-year guidance at the high end of the previously provided range.
CBIZ
CBIZ
CBIZ Revenue by Segment
Forward Guidance
The Company expects revenue to grow within a range of 19% to 21% over the prior year. The Company expects a weighted average fully diluted share count of approximately 53.0 million shares. On a GAAP basis, the Company expects full-year fully diluted earnings per share from continuing operations to grow within a range of 43% to 46%, to $1.89 to $1.93 per share, over the $1.32 per share reported in 2021. The Company expects adjusted fully diluted earnings per share from continuing operations to grow within a range of 20% to 22%, to $1.99 to $2.03 per share, over the adjusted $1.66 reported for 2021.
Positive Outlook
- Revenue is expected to grow within a range of 19% to 21% over the prior year.
- The company expects an effective tax rate of approximately 25%.
- The company expects a weighted average fully diluted share count of approximately 53.0 million shares.
- GAAP full-year fully diluted earnings per share from continuing operations are expected to grow within a range of 43% to 46%, to $1.89 to $1.93 per share.
- Adjusted full-year fully diluted earnings per share from continuing operations are expected to grow within a range of 20% to 22%, to $1.99 to $2.03 per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income