CBIZ Q1 Revenue $849M Up 1.3%, Adjusted EPS Outlook Raised to $4.00–4.10
CBIZ delivered Q1 revenue of $849 million, up 1.3%, with net income rising 31.6% to $162 million and GAAP EPS climbing 37.7% to $2.63. Operating cash flow surged 71.1%, free cash flow rose 69.5%, and about $63 million of shares were repurchased, lowering net leverage by 0.5x.
1. Q1 Financial Results
Total revenue reached $849 million, a 1.3% increase over prior year, driven by a 2.1% rise in Financial Services revenue. Net income rose 31.6% to $162 million, GAAP EPS climbed 37.7% to $2.63, adjusted EBITDA increased 1.5% to $244 million, and adjusted diluted EPS reached $2.50.
2. Capital Allocation and Share Repurchases
Operating cash flow surged 71.1% and free cash flow grew 69.5%, supporting $63 million of share repurchases by end of April. These repurchases reduced the weighted average share count to approximately 60.5 million and lowered net leverage by 0.5x year-over-year.
3. 2026 Outlook and Strategic Priorities
The company reaffirmed revenue guidance of $2.8–2.9 billion, raised adjusted EBITDA to $465–475 million and boosted adjusted diluted EPS outlook to $4.00–4.10. Management highlighted investments in AI, industry specialization and cross-border engagements as key drivers for growth and synergy realization.