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Jun 30, 2025
CBIZ Q2 2025 Earnings Report
CBIZ reported strong second-quarter 2025 results, with significant increases in revenue, net income, and adjusted EBITDA, driven by the Marcum acquisition.
Key Takeaways
CBIZ delivered robust financial performance in the second quarter of 2025, with total revenue surging by 62.7% to $683.5 million and net income more than doubling to $41.9 million. Adjusted EBITDA saw an impressive 127.9% increase, highlighting the positive impact of strategic acquisitions, particularly Marcum.
Total revenue for Q2 2025 reached $683.5 million, marking a 62.7% increase from the same period last year.
Net income for the quarter was $41.9 million, representing a substantial 111.9% rise year-over-year.
GAAP diluted EPS grew by 69.2% to $0.66, while Adjusted diluted EPS increased by 63.8% to $0.95.
Adjusted EBITDA significantly improved by 127.9% to $117.2 million in Q2 2025.
Revenue by Segment
Forward Guidance
CBIZ provided an optimistic outlook for the full year 2025, projecting strong revenue growth, increased profitability, and a stable effective tax rate, reflecting confidence in their strategic initiatives and market position.
Positive Outlook
- Total revenue is expected to be between $2.8 billion and $2.95 billion.
- GAAP fully diluted earnings per share are projected to be in the range of $1.97 to $2.02.
- Adjusted fully diluted earnings per share are anticipated to be between $3.60 and $3.65.
- Adjusted EBITDA is forecasted to be within a range of $450 million to $456 million.
- The effective tax rate is expected to be approximately 29%.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- The company's ability to realize anticipated benefits from acquisitions, particularly Marcum, could be a risk.
- Integration costs related to acquisitions are expected to be significant, ranging up to $75 million.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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