Strong First Quarter Performance
CBIZ reported a 70% increase in consolidated revenue, from $383 million to $494 million, primarily due to the Marcum acquisition. Adjusted EBITDA doubled from $119 million to $238 million.
Benefits and Insurance Segment Growth
The Benefits and Insurance segment delivered revenue of $113 million, up 4%, with adjusted EBITDA rising by 10% to $30 million. The segment also saw a 150 basis point increase in adjusted EBITDA margin.
Government Healthcare Consulting Success
The government healthcare consulting business posted strong revenue growth in Q1, contributing to a robust pipeline of new projects.
Integration Progress
Integration of Marcum is on schedule, with high retention and strong engagement reported. CBIZ is experiencing outstanding collaboration among teams.