CBIZ’s Fourth-Quarter and Full-Year 2024 Results: A New Milestone with the Marcum Acquisition
CBIZ, Inc., a prominent professional services advisor, recently disclosed its financial performance for the fourth quarter and full year that ended on December 31, 2024. Amidst these results, the Company marked a significant milestone with the closure of the acquisition of Marcum LLP on November 1, 2024.
Fourth-Quarter Highlights
The fourth quarter of 2024 was a period of growth for CBIZ. Total revenue for the quarter surged by 40.5%, reaching an impressive figure. Same-unit revenue also experienced a steady increase of 6.4%. However, it is essential to note that these results include the impact of the Marcum transaction and integration expenses, as well as seasonal results from the consolidated operations in November and December.
Full-Year Highlights
The full-year financial performance of CBIZ reflected a robust growth trend. Total revenue for the year rose by 14.0%, while same-unit revenue grew by 4.8%. The GAAP EPS was reported at $0.78, while adjusted EPS, excluding the impact of the Marcum transaction and acquisition transaction and integration costs, stood at $2.67, marking a 10.8% increase.
Impact on Individuals
For individuals, the Marcum acquisition may lead to several changes. As CBIZ continues to expand its operations, it may create new job opportunities in various fields. Additionally, the enhanced service offerings resulting from the acquisition could potentially lead to improved professional development opportunities for existing employees.
- New job opportunities in various fields
- Improved professional development opportunities
Impact on the World
On a broader scale, the Marcum acquisition could influence the professional services industry as a whole. The combined capabilities of CBIZ and Marcum are expected to create a more comprehensive suite of services, potentially attracting a larger client base and increasing competition in the market.
- More comprehensive suite of services
- Larger client base and increased competition
2025 Outlook
Looking ahead to 2025, CBIZ anticipates continued growth. Total revenue is projected to fall within a range of $2.90 billion to $2.95 billion. GAAP EPS is expected to be between $1.97 and $2.02 per diluted share, while adjusted EPS, excluding acquisition transaction and integration costs, is projected to be between $3.60 and $3.65 per diluted share. Adjusted EBITDA is projected to be within a range of $450 million to $456 million.
Conclusion
The fourth quarter and full-year results of CBIZ for 2024 marked a pivotal moment in the Company’s history with the acquisition of Marcum LLP. The integration of Marcum’s capabilities is expected to create a more extensive range of services and potentially lead to new opportunities for both the Company and individuals in the professional services industry. As CBIZ continues to grow in 2025, it will be interesting to observe the impact of this acquisition on the industry and the world at large.
Stay tuned for more updates and insights into the professional services industry and CBIZ’s journey!
