CBIZ, Inc. reported a modest increase in revenue for the first quarter of 2026, reaching $848.6 million, up 1.3% from $838.0 million in the same period of 2025. The growth was driven by a $10.6 million increase in revenue, with same-unit revenue rising by approximately $8.4 million, or 1.0%. Newly acquired operations contributed an additional $2.1 million to the revenue figures. Net income for the quarter was $161.6 million, translating to earnings of $2.63 per diluted share, compared to $122.8 million, or $1.91 per diluted share, in the prior year.
In terms of operational changes, CBIZ underwent a significant organizational restructuring, merging its National Practice group into the Financial Services practice group. This adjustment aligns the internal management and reporting structure with the services provided, resulting in two primary reportable segments: Financial Services and Benefits and Insurance Services. The Financial Services segment reported revenue of $740.3 million, a 2.1% increase from the previous year, while the Benefits and Insurance Services segment saw a decline of 4.2%, with revenue falling to $108.2 million.
The company also reported a notable gain from acquisition-related adjustments, totaling $58.0 million, primarily due to a working capital adjustment associated with a previous acquisition. This gain significantly impacted the overall financial performance, contributing to a total other income of $30.0 million for the quarter, compared to a loss of $27.1 million in the same period last year. Interest expense decreased to $23.9 million from $25.2 million, reflecting a reduction in the average interest rate on outstanding debt.
CBIZ's total assets increased to $4.63 billion as of March 31, 2026, compared to $4.41 billion at the end of 2025. The company reported a total debt of $1.46 billion, with a net leverage ratio of 5.00 to 1.00, in compliance with its financial covenants. The company continues to focus on strategic growth through acquisitions and share repurchases, having repurchased 1.1 million shares for a total cost of $31.6 million during the quarter. Looking ahead, CBIZ anticipates potential softness in demand for its services due to current economic conditions, which may impact its ability to forecast future performance accurately.
About CBIZ, Inc.
CBIZ, Inc. is a national professional services firm providing accounting, tax, financial advisory, benefits consulting, insurance brokerage, and technology solutions primarily to middle-market businesses across diverse industries. Its business model integrates multidisciplinary services through three practice groups—Financial Services, Benefits and Insurance Services, and National Practices—delivering comprehensive, locally supported expertise. CBIZ leverages strong client relationships, data-driven insights, and a broad service portfolio to address complex business needs and drive growth.
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