CBZ - CBIZ Non-GAAP EPS of $1.46 beats by $0.19 revenue of $454.6M beats by $21.94M

2023-04-27 06:36:24 ET

• CBIZ press release ( NYSE: CBZ ): Q1 Non-GAAP EPS of $1.46 beats by $0.19 .
• Revenue of $454.6M (+16.1% Y/Y) beats by $21.94M .
• Same-unit revenue increased by $39.3 million, or 10.0%, for the quarter, compared with the same period a year ago.

• 2023 Outlook

  • The Company expects revenue to grow within a range of 8% to 10% over the prior yearn vs. 8.78% consensus
  • The Company expects an effective tax rate of approximately 28%. The increased rate, up from 25.5% in 2022, will impact diluted earnings per share by approximately $0.08.
  • The Company expects a weighted average fully diluted share count of approximately 50.5 to 51.0 million shares.
  • The Company expects GAAP fully diluted earnings per share to grow within a range of 15% to 17%, to $2.31 to $2.36 per share over the $2.01 per share reported for 2022.
  • The Company expects Adjusted fully diluted earnings per share to grow within a range of 11% to 13%, to $2.36 to $2.41 vs. $2.38 consensus per share over the Adjusted earnings per share of $2.13 per share reported for 2022.

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