CBIZ reports Q4 adjusted EPS (26c), consensus (27c)

Reports Q4 revenue $327.55M, consensus $309.02M. Same-unit revenue increased by $19.9M, or 6.8%, for the quarter. Jerry Grisko, CBIZ president and CEO, said, “Our continued strong performance in 2023 demonstrates the strength and resilience of our business model. Despite economic uncertainty throughout much of the year brought on by rising interest rates, threats of a recession and global unrest, demand remained strong for both our essential, recurring services and our more project-based advisory services. We also benefited from the three acquisitions and two ‘tuck in’ transactions we completed during the year which added approximately $67.3 million of annualized revenue. We are pleased to have recently announced the acquisition of Erickson, Brown & Kloster, LLC, (EBK), a CPA firm providing a broad range of accounting and tax services located in Colorado Springs, Colorado. This acquisition, effective February 1, 2024, will complement our growing Denver Financial Services practice.”