Overview

* CBIZ ( CBZ ) Q3 revenue grows 58.1% but misses analyst expectations

* Adjusted EPS for Q3 beats analyst estimates, indicating strong operational performance

* Company sees improved growth due to better market conditions and Marcum acquisition synergies

Outlook

* Company expects total revenue between $2.8 bln and $2.95 bln

* Company anticipates adjusted EPS between $3.60 and $3.65

* Company forecasts adjusted EBITDA between $450 mln and $456 mln

Result Drivers

* MARCUM ACQUISITION - Co reports better-than-expected synergies from Marcum acquisition contributing to growth

* MARKET CONDITIONS - Improved market conditions led to growth in non-recurring businesses

* OPERATING EXPENSES - Higher operating expenses impacted net income despite revenue growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $693.81 $709.18

Revenue mln mln (3

Analysts

)

Q3 Beat $1.01 $0.89 (3

Adjusted Analysts

EPS )

Q3 Net $30.14

Income mln

Q3 $120.02

Adjusted mln

EBITDA

Q3 $603.68

Operatin mln

g

Expenses

Q3 $58.86

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the business support services peer group is "buy."

* Wall Street's median 12-month price target for CBIZ Inc ( CBZ ) is $95.00, about 45% above its October 28 closing price of $52.25

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)