- CBIZ (CBZ, Financial) reported a 69.5% surge in Q1 2025 revenue to $838.0 million.
- Adjusted EBITDA doubled to $237.6 million, marking a 100% increase from Q1 2024.
- The company revised its 2025 revenue outlook to between $2.8 billion and $2.95 billion due to economic uncertainties.
CBIZ, Inc. (CBZ), a leader in professional services, announced impressive financial results for the first quarter of 2025. The company achieved a 69.5% increase in revenue, totaling $838.0 million, compared to $494.3 million in the same period the previous year. This substantial growth was accompanied by a 59.7% rise in net income, reaching $122.8 million, or $1.91 per diluted share, up from $76.9 million, or $1.53 per diluted share, in Q1 2024.
Another highlight was the doubling of CBIZ's Adjusted EBITDA, which reached $237.6 million, a significant leap from $118.8 million in the previous year's first quarter. Adjusted net income also saw a remarkable increase of 79.7%, amounting to $147.2 million, or $2.29 per diluted share, compared to $81.9 million, or $1.63 per diluted share, in Q1 2024.
The integration of Marcum is proceeding as planned, demonstrating strong employee and client retention rates. However, amidst the ongoing economic and geopolitical uncertainties, particularly affecting non-recurring service lines, CBIZ adjusted its full-year 2025 projections. The company now forecasts annual revenue to fall within the range of $2.8 billion to $2.95 billion, with adjusted earnings per share between $3.60 and $3.65.
Despite these challenges, CBIZ's solid Q1 performance underscores its adept handling of operational integrations and financial management under varying business climates. The company remains transparent about the potential headwinds and is strategically navigating these to ensure continued growth and stable performance.
