CBIZ Third Quarter 2024 Earnings: EPS Misses Expectations

CBIZ (NYSE:CBZ) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$438.9m (up 6.9% from 3Q 2023).
• Net income: US$35.1m (up 4.2% from 3Q 2023).
• Profit margin: 8.0% (down from 8.2% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.70 (up from US$0.68 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CBIZ EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.9%.

Looking ahead, revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Professional Services industry in the US.

Performance of the American Professional Services industry.

The company's shares are up 7.6% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of CBIZ's balance sheet and an in-depth analysis of the company's financial position.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.