CBIZ Q4 2023 Earnings Report
Key Takeaways
CBIZ's fourth-quarter revenue increased by 11.0% to $327.5 million, with same-unit revenue up by 6.8%. The company reported a net loss of $12.7 million, and an adjusted loss per share of $0.26.
Total revenue increased by 11.0% compared to the same period in the previous year.
Same-unit revenue grew by 6.8% during the quarter.
Acquired operations contributed 4.2% to the fourth-quarter revenue growth.
Net loss was $12.7 million, compared to a net loss of $11.5 million in the same quarter of the previous year.
CBIZ
CBIZ
CBIZ Revenue by Segment
Forward Guidance
The Company expects total revenue to grow within a range of 7% to 9% over the prior year. The Company expects GAAP fully diluted earnings per share to grow within a range of 13% to 15%, to $2.70 to $2.75 per share over the $2.39 per share reported for 2023. The Company expects Adjusted fully diluted earnings per share to grow within a range of 12% to 14%, to $2.70 to $2.75 per share over the Adjusted earnings per share of $2.41 per share reported for 2023.
Positive Outlook
- Total revenue to grow within a range of 7% to 9% over the prior year.
- Effective tax rate of approximately 28%.
- Weighted average fully diluted share count of approximately 50.0 to 50.5 million shares.
- GAAP fully diluted earnings per share to grow within a range of 13% to 15%, to $2.70 to $2.75 per share over the $2.39 per share reported for 2023.
- Adjusted fully diluted earnings per share to grow within a range of 12% to 14%, to $2.70 to $2.75 per share over the Adjusted earnings per share of $2.41 per share reported for 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income