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Jun 30, 2022
CBIZ Q2 2022 Earnings Report
CBIZ's second quarter performance was strong, with revenue and earnings per share increasing significantly.
Key Takeaways
CBIZ reported a strong second quarter with a 29.9% increase in total revenue and a 275.0% increase in GAAP EPS. The company's growth was driven by both organic growth and strategic acquisitions.
Total revenue increased by 29.9%, with same-unit revenue up 11.4%.
GAAP EPS increased by 275.0%, and adjusted EPS increased by 26.0%.
Income from continuing operations increased by 262.9%, and adjusted EBITDA increased by 29.9%.
The company raised its full-year 2022 guidance for revenue growth and adjusted earnings per share.
CBIZ
CBIZ
CBIZ Revenue by Segment
Revenue by Segment
Financial Services Revenue
CapyFin.comBenefits and Insurance Services Revenue
CapyFin.comNational Practices Revenue
CapyFin.com Forward Guidance
CBIZ raised its full-year 2022 guidance to reflect anticipated revenue growth between 23% and 25% and growth in Adjusted earnings per share between 25% and 27%.
Positive Outlook
- Increased revenue growth expectations to within a range of 23% to 25% over the prior year, up from previous guidance of 19% to 21% in revenue growth.
- Expects an effective tax rate of approximately 25%.
- Expects a weighted average fully diluted share count of 52.5 million to 53.0 million shares.
- Expects full-year fully diluted earnings per share from continuing operations to grow within a range of 45% to 48% per share, over the $1.32 per share reported in 2021, up from previous guidance of 43% to 46% per share.
- Expects Adjusted fully diluted earnings per share from continuing operations to grow within a range of 25% to 27% over the Adjusted $1.66 reported for 2021, up from previous guidance of a 20% to 22% increase per share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income