CBIZ Earnings Up In Q3
(RTTNews) - CBIZ, Inc. (CBZ), a financial, insurance, and advisory services company, on Monday reported higher net income in the third quarter compared with the previous year.
For the third quarter, net income increased to $47.24 million from $30.15 million in the previous year.
Earnings per share were $0.79 versus $0.48 last year.
Adjusted net income rose to $72.20 million from $67.46 million in the same period a year ago.
Adjusted earnings per share were $1.21 versus $1.06 last year.
Adjusted EBITDA increased to $131.85 million from $124.01 million in the prior year.
Operating income jumped to $90.18 million from $58.87 million in the prior year.
Revenue increased to $702.24 million from $693.82 million in the previous year.
The company proposed a $5 billion acquisition by Grant Thornton, backed by New Mountain Capital, which is expected to close in the fourth quarter of 2026 at $55 per share, subject to approvals.
The company will become private and will not provide full-year 2026 guidance or hold a third-quarter earnings call.
On Friday, CBIZ closed trading 0.09% higher at $54.78 on the New York Stock Exchange.
