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Last $9.79 USD
Change Today +0.17 / 1.77%
Volume 276.2K
CBZ On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

cbiz inc (CBZ) Key Developments

CBIZ Mulls Acquisitions

CBIZ, Inc. (NYSE:CBZ) intends to pursue acquisitions. "CBIZ remains committed to the Baltimore/Washington D.C. metropolitan market in terms of growing our existing Financial Services and Employee Services offerings and will continue to be active in pursuing opportunities to acquire a sizable, well-positioned accounting service provider in the area," Steven L. Gerard, CBIZ Chairman and Chief Executive Officer, said.

CBIZ, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year 2015

CBIZ, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the second quarter, the company reported revenue of $185.0 million, an increase of $7.6 million, or 4.3%, compared with $177.5 million for the second quarter of 2014.  Adjusted EBITDA for the 2015 second quarter was $20.1 million, compared with $19.6 million for the 2014 second quarter.  Adjusted EBITDA for the second quarter of 2015 excludes a pre-tax charge of $0.8 million related to the early retirement of the 4.875% Convertible Senior Subordinated Notes. Operating income was $15,310,000 compared to $10,843,000 a year ago. Income from continuing operations before income tax expense was $11,381,000 compared to $11,270,000 a year ago. Income from continuing operations was $6,685,000 compared to $6,446,000 a year ago. Net income was $6,645,000 or $0.13 per diluted share compared to $6,107,000 or $0.12 per diluted share a year ago. Adjusted EBIT from continuing operations was $14,184,000 compared to $14,779,000 a year ago. Adjusted EBITDA from continuing operations was $20,081,000 compared to $19,597,000 a year ago. Non-GAAP earnings - Continuing operations was $13,546,000 or $0.26 per share compared to $11,600,000 or $0.22 per share a year ago. Capital spending was $2.4 million and $0.9 million for the three months ended June 30, 2015 and 2014. For the six-month period ended June 30, 2015, CBIZ reported revenue of $398.9 million, an increase of $16.7 million, or 4.4%, over the $382.2 million recorded for the comparable six-month period a year ago. Income from continuing operations was $26.2 million, or $0.51 per diluted share, for the first six months of 2015, compared with $24.5 million, or $0.47 per diluted share, for the first six months of 2014. Adjusted EBITDA was $61.1 million for the six months ended June 30, 2015, compared with $58.9 million for the 2014 first half.  Adjusted EBITDA for the first half of 2015 excludes a pre-tax charge of $0.8 million related to the early retirement of the 2010 Notes. Operating income was $48,447,000 compared to $43,433,000 a year ago. Income from continuing operations before income tax expense was $44,456,000 compared to $42,410,000 a year ago. Net income was $25,813,000 or $0.50 per diluted share compared to $23,396,000 or $0.45 per diluted share a year ago. Adjusted EBIT from continuing operations was $50,180,000 compared to $49,344,000 a year ago. Adjusted EBITDA from continuing operations was $61,064,000 compared to $58,862,000 a year ago. Non-GAAP earnings - Continuing operations was $38,753,000 or $0.76 per share compared to $35,492,000 or $0.68 per share a year ago. Capital spending was $5.4 million. For the full year 2015, the company continues to project revenue to increase by 5% to 7%.  Assuming a constant share count, EPS is projected to increase by 12% to 15%. The company expects that full year capital spending to be approximately $7 million to $8 million as the first half was higher than normal in connection with this move. This year in 2015, the company continues to project effective tax rate at approximately 40%.

CBIZ Mulls Acquisitions

CBIZ, Inc. (NYSE:CBZ) intends to pursue acquisitions. “We have made one acquisition to date this year, and we currently have a number of potential acquisitions in our pipeline and expect to close a total of three to five transactions by the end of this year,” Steven L. Gerard, CBIZ Chairman and Chief Executive Officer, stated.

CBIZ, Inc. to Report Q2, 2015 Results on Jul 29, 2015

CBIZ, Inc. announced that they will report Q2, 2015 results at 11:00 AM, US Eastern Standard Time on Jul 29, 2015

CBIZ, Inc., Q2 2015 Earnings Call, Jul 29, 2015

CBIZ, Inc., Q2 2015 Earnings Call, Jul 29, 2015

 

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Industry Analysis

CBZ

Industry Average

Valuation CBZ Industry Range
Price/Earnings 15.5x
Price/Sales 0.7x
Price/Book 1.1x
Price/Cash Flow 16.2x
TEV/Sales 0.4x
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