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Sep 30, 2021
CBIZ Q3 2021 Earnings Report
CBIZ's third-quarter performance was marked by revenue growth and increased earnings per share.
Key Takeaways
CBIZ reported a strong third quarter with an 18.6% increase in total revenue and a 13.9% increase in earnings per share. The company's performance was driven by both acquired operations and same-unit revenue growth. Due to strong demand and completed acquisitions, CBIZ raised its full-year 2021 guidance.
Total revenue increased by 18.6% compared to the same period in 2020.
Same-unit revenue grew by 8.3% year-over-year.
Earnings per share (EPS) rose by 13.9% compared to the third quarter of the previous year.
The company raised its full-year 2021 guidance, anticipating revenue growth between 12% and 15% and adjusted EPS growth between 20% and 24%.
Revenue by Segment
Forward Guidance
CBIZ anticipates revenue growth between 12% and 15% and growth in adjusted earnings per share between 20% and 24% for the full year 2021.
Positive Outlook
- Revenue growth expectations increased to between 12% and 15% over the prior year.
- The company expects an effective tax rate of approximately 24% to 24.5%.
- The company expects a weighted average fully diluted share count of approximately 53.5 to 54.0 million shares.
- Full-year fully diluted earnings per share are expected to be within a range of $1.36 to $1.42 on a GAAP basis.
- Adjusted Diluted EPS is expected to grow within a range of 20% to 24% over the $1.42 reported for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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