Welcome to our dedicated page for Cbiz news (Ticker: CBZ), a resource for investors and traders seeking the latest updates and insights on Cbiz stock.
CBIZ, Inc. (NYSE: CBZ) is a national professional services advisor to middle-market businesses and organizations, and its news flow reflects this broad advisory role. Company announcements regularly highlight developments in accounting, tax, advisory, benefits, insurance, and technology-related services, giving investors and business leaders insight into how CBIZ responds to changing market, regulatory, and workforce conditions.
News about CBIZ often includes leadership appointments and organizational updates that align with strategic priorities. Recent releases have described new roles such as National Leader, Industries, Vice President of Artificial Intelligence, National Leader of Private Client Services, and Chief Investment Officer of CBIZ Investment Advisory Services, LLC. These items illustrate how the company builds capabilities in industry specialization, AI-led transformation, private client advisory, and investment advisory services.
CBIZ also issues research-driven news, such as its Benefits & Insurance Market Outlook, Tax Planning Guide, Mid-Market Pulse survey, and Employee Experience Guide. These reports cover topics like rising healthcare and benefit costs, regulatory shifts, tax law changes, cost pressures, tariffs, financing challenges, AI and automation, and strategies for improving employee experience. Earnings releases and related 8-K filings provide updates on quarterly and year-to-date financial performance, along with commentary from senior leadership on business conditions and outlook.
Visitors to the CBZ news page can use this stream of press releases and analyses to follow how CBIZ addresses middle-market client needs, adapts its service offerings, and manages corporate governance and capital markets communication. For investors, clients, and analysts, the news feed offers a centralized view of the company’s strategic direction, financial reporting, and thought leadership across its core practice areas.
CBIZ, a prominent provider of financial, insurance, and advisory services, will host a virtual Investor Day on September 14, 2021, from 10:00 a.m. ET to 12:00 p.m. ET. The event commemorates the company's 25th anniversary and will feature discussions on its strategy, financial performance, and outlook by senior leadership, including the CEO and CFO. Investors can preregister for the event on the company's website, and a webcast will be available for viewing. A replay will also be accessible after the event.
CBIZ, Inc. (NYSE: CBZ) has appointed Richard T. Marabito as an independent director on its Board of Directors, expanding its membership from 10 to 11. Effective August 12, 2021, Marabito, who is currently the CEO of Olympic Steel, will also serve on the Audit Committee. His extensive experience includes 18 years as CFO and over two decades in the public accounting sector. CBIZ Chairman Steven L. Gerard expressed confidence that Marabito's leadership and expertise will benefit the company significantly.
The CBIZ Small Business Employment Index (SBEI) reported a 1.99% increase for July, marking the second consecutive month of growth in hiring among small businesses. The index reflects payroll trends from over 3,600 companies with 300 or fewer employees. Notably, 91,000 jobs were added by small businesses in July, contributing to a total of 330,000 private-sector jobs added. Regional hiring was strongest in the Southeast (3.04%), while the West saw a slight decline (-0.09%). Concerns about virus variants may impact future employment trends.
CBIZ reported strong second-quarter results for 2021, achieving $278.6 million in revenue, a 17.6% increase year-over-year. Growth was fueled by acquired operations, contributing $16.9 million, and a 10.5% rise in same-unit revenue. However, income from continuing operations fell to $8.6 million due to a $30.5 million pretax charge from a settlement. Adjusted EPS rose to $0.50, a 28.2% increase. For 2021, the company raised its revenue growth guidance to 10%-12%, with expectations for adjusted diluted EPS growth of 12%-15%.
CBIZ, Inc. (NYSE: CBZ) will announce its financial results for the second quarter and first half of 2021 on July 29, 2021, before market open. A conference call led by President and CEO Jerry Grisko and CFO Ware Grove is scheduled for 11:00 a.m. ET on the same day, with a live webcast available on the investor relations page. Investors can pre-register for the call to obtain access details. CBIZ provides a range of financial, insurance, and advisory services across the U.S., maintaining over 100 offices in 31 states.
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted increase of 0.34% in June, signaling growth in the small business sector. The index tracks payroll trends for over 3,600 companies with 300 or fewer employees. Notably, hiring rose in the Northeast by 2.77%, while the Southeast and West saw declines. Positive growth was noted in industries like Financial Services and Construction. However, concerns over staffing shortages persist, with 46% of businesses expressing unease. If current trends continue, longer-term growth is anticipated.
CBIZ, Inc. (NYSE: CBZ) announced a settlement agreement regarding a lawsuit filed by the University of Pittsburgh Medical Center, which sought compensatory damages between $124 million and $266 million related to actuarial services. CBIZ will pay a total of $41.5 million, expecting a one-time after-tax charge of approximately $22.8 million, impacting its 2021 earnings per share by about $0.42. The company aims to mitigate risks associated with ongoing litigation, allowing it to refocus on business growth. As of May, CBIZ reported strong cash flows and a healthy balance sheet.
CBIZ (NYSE: CBZ) has published its Q2 2021 Main Street Index, indicating a significant recovery for small and mid-sized businesses post-COVID-19. Business confidence surged by 11%, with 85% of respondents reporting positive outlooks. Revenue growth doubled, rising from 22% in Q1 to 52% in Q2. However, staffing challenges remain, with 46% of businesses expressing hiring concerns. Additionally, 57% of companies confirmed a shift to remote or hybrid work, while nearly half are encouraging employee vaccinations.
CBIZ, Inc. (NYSE: CBZ) has completed its acquisition of Schramm Health Partners, LLC, known as Optumas, effective June 1, 2021. Based in Scottsdale, Arizona, Optumas specializes in actuarial services for state Medicaid programs and generated around $10.9 million in annual revenue. This acquisition is aimed at enhancing CBIZ's government health care consulting services and offering more comprehensive solutions to clients. The leadership of both companies expressed excitement over the strategic combination, which is expected to boost future growth and improve client service delivery.
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decrease of 0.21% in May, following growth in April. This decline suggests small businesses may be reducing hiring after three months of increases. The Northeast region saw a hiring increase of 0.52%, while the Central, Southeast, and West regions reported declines of -0.28%, -0.39%, and -0.5%, respectively. Industries such as Arts, Entertainment, and Retail experienced hiring growth, while Professional Services and Healthcare faced declines.