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Jun 30, 2021
CBIZ Q2 2021 Earnings Report
CBIZ's second-quarter performance was reported, featuring revenue growth and increased full-year revenue guidance.
Key Takeaways
CBIZ reported a 17.6% increase in revenue for the second quarter of 2021, driven by both acquisitions and same-unit revenue growth. The company's adjusted EPS increased by 28.2%. Due to strong performance, CBIZ raised its full-year revenue growth guidance to 10% to 12%.
Total revenue increased by 17.6%.
Same-unit revenue increased by 10.5%.
Adjusted EPS increased by 28.2%.
Full-year 2021 revenue guidance was raised to 10% to 12% growth.
CBIZ
CBIZ
CBIZ Revenue by Segment
Forward Guidance
CBIZ increased its revenue growth expectations to within a range of 10% to 12% over the prior year. The Company expects Adjusted Diluted EPS to grow within a range of 12% to 15% over the $1.42 reported for 2020.
Positive Outlook
- Revenue growth expectations increased to 10% - 12%.
- Effective tax rate expected to be approximately 25%.
- Weighted average fully diluted share count of approximately 54.0 million shares is expected.
- Full-year fully diluted earnings per share within a range of $1.25 to $1.29 is expected on a GAAP basis.
- Adjusted Diluted EPS is expected to grow within a range of 12% to 15% over the $1.42 reported for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income