Cbiz Inc Stock Price, News & Analysis

CBIZ, Inc. (NYSE: CBZ) recently announced the winners of its second annual Women Transforming Business Award, celebrating women who drive financial, cultural, and innovative change. The event featured a keynote by Martha Stewart, who discussed her business journey. Award winners included Rita Gardner from Melmark Inc for financial strength, Mary Frontczak from Compass Minerals for culture, and Sarah Wovcha from Children’s Dental Services for innovation. This initiative highlights the impact of female leaders on business advancement.

CBIZ, a leading financial services provider, reported strong first-quarter results for 2022. Total revenue surged to $391.7 million, marking a 30.3% increase year-over-year. Income from continuing operations rose to $58.1 million or $1.10 per diluted share, up 15.8%. Adjusted EBITDA climbed 26.7% to $92.9 million. The company’s acquisition of Marks Paneth contributed significantly to growth, with 20.7% of revenue growth attributed to acquired operations. CBIZ reaffirms positive revenue growth outlook of 19% to 21% for the year.

The CBIZ Main Street Index reveals that small to mid-sized businesses are adapting to high inflation, staffing shortages, and supply chain challenges. 64% of businesses cite inflation as their largest burden, with 69% planning price increases. Staffing remains tight, with 52% of businesses concerned about shortages. Despite these challenges, strong consumer demand supports optimism, with fewer companies reporting revenue declines. The survey reflects responses from over 1,400 businesses and marks a shift away from COVID-19 concerns.

CBIZ, Inc. (NYSE: CBZ) will announce its financial results for Q1 2022 on April 28, 2022, before market opening. A conference call to discuss these results will take place at 11 a.m. ET on the same day, featuring President and CEO Jerry Grisko and CFO Ware Grove. Investors can access the live webcast on the CBIZ investor relations page, and an archived version will be available post-call. CBIZ is a prominent provider of financial, insurance, and advisory services in the U.S., operating over 100 offices across 32 states.

CBIZ, Inc. announced the passing of Chairman and former CEO Steven L. Gerard at the age of 76, following a brief illness. Gerard, who joined in 2000, played a pivotal role in the company's growth, with revenue increasing from $546 million to $750 million during his tenure. Under his leadership, CBIZ's stock value surged nearly tenfold, outperforming major indices. He retired as CEO in 2016 but continued as Chairman. Gerard was known for his commitment to company culture and employee development, leaving behind a legacy that includes the Steven L. Gerard Legacy Award.

The CBIZ Small Business Employment Index (SBEI) reported a 0.1% hiring increase in March, signaling a rebound after two months of declines. This index tracks trends among over 3,700 small businesses with 300 or fewer employees. Industries like Arts and Entertainment and Accommodations and Food Services saw significant hiring growth, while the West region recorded a decline of 0.82%. Executive VP Philip Noftsinger highlighted that rising inflation concerns are prompting more hiring as consumer demand increases. The report suggests an improving labor market as seasonal hiring ramps up.

CBIZ, Inc. (NYSE: CBZ) has announced the finalists for its second annual Women Transforming Business Awards, honoring women leaders for their influence in financial strength, innovation, and culture.

The finalists, revealed on International Women’s Day, are recognized for their exceptional leadership and contributions to their organizations. The awards celebration will feature Martha Stewart as a special guest on April 26, 2022.

The CBIZ Small Business Employment Index reported a 0.09% decrease in February, marking an improvement from previous declines. The index tracks payroll trends for over 3,600 small businesses. Despite a reported decline of 96,000 jobs among small firms as per ADP and Moody's, hiring was noted to increase in sectors like Administration, Insurance, and Technology. Regions like the West and Southeast saw slight hiring increases, contrasting declines in the Northeast and Central regions. The economic landscape indicates potential for recovery amid rising inflation concerns.