CBZ · CBIZ, Inc.

CBIZ reported strong first-quarter 2026 results, with total revenue of $849 million, up 1.3% year-over-year, driven by a 2.1% increase in Financial Services revenue. Net income rose 31.6% to $162 million, and GAAP diluted EPS increased 37.7% to $2.63. On an adjusted basis, EBITDA grew 1.5% to $244 million, and adjusted diluted EPS increased 7.3% to $2.50, reflecting solid operational performance and the impact of share repurchases. Operating cash flow surged 71.1%, and free cash flow rose 69.5%, highlighting strong cash generation. The company repurchased approximately 2 million shares for about $63 million through the end of April, reducing net leverage by 0.5x year-over-year. Management noted improved organic growth sequentially compared to the fourth quarter and raised the full-year adjusted diluted EPS outlook to $4.00-$4.10 from $3.75-$3.85, while reaffirming revenue, adjusted EBITDA, and free cash flow targets. The updated outlook reflects a stock-based compensation adjustment and the impact of share repurchases. The company continues to expect low to mid-single-digit revenue growth, improved earnings, and strong free cash flow conversion. Key strategic highlights include progress on integration milestones, with $12 million in additional operational synergies expected in 2026, and the launch of a spring national brand campaign.