CBIZ, Inc. Files Q3 2024 10-Q Report
Ticker: CBZ · Form: 10-Q · Filed: Nov 7, 2024 · CIK: 944148
| Field | Detail |
|---|---|
| Company | Cbiz, Inc. (CBZ) |
| Form Type | 10-Q |
| Filed Date | Nov 7, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
CBIZ Q3 2024 10-Q filed. Check financials.
AI Summary
CBIZ, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial data and operational details for this period are presented, reflecting the company's performance and financial position.
Why It Matters
This report provides investors and analysts with the latest financial performance data for CBIZ, Inc., crucial for understanding the company's trajectory and making informed investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is provided.)
- 2024-11-07 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- CBIZ, Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241107 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on November 7, 2024.
What is CBIZ, Inc.'s Central Index Key (CIK)?
CBIZ, Inc.'s Central Index Key (CIK) is 0000944148.
What is CBIZ, Inc.'s fiscal year end date?
CBIZ, Inc.'s fiscal year ends on December 31.
What is the SEC file number for CBIZ, Inc.?
The SEC file number for CBIZ, Inc. is 001-32961.
Filing Stats: 4,752 words · 19 min read · ~16 pages · Grade level 15.7 · Accepted 2024-11-07 15:41:12
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 Par Value CBZ New York Stock Exchange
Filing Documents
- cbz-20240930.htm (10-Q) — 1659KB
- cbz-20240930x10qex311.htm (EX-31.1) — 9KB
- cbz-20240930x10qex312.htm (EX-31.2) — 9KB
- cbz-20240930x10qex321.htm (EX-32.1) — 5KB
- cbz-20240930x10qex322.htm (EX-32.2) — 5KB
- 0001628280-24-046201.txt ( ) — 7736KB
- cbz-20240930.xsd (EX-101.SCH) — 48KB
- cbz-20240930_cal.xml (EX-101.CAL) — 69KB
- cbz-20240930_def.xml (EX-101.DEF) — 210KB
- cbz-20240930_lab.xml (EX-101.LAB) — 631KB
- cbz-20240930_pre.xml (EX-101.PRE) — 428KB
- cbz-20240930_htm.xml (XML) — 1247KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) – September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income (Unaudited) – Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) – Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (Unaudited) – Nine Months Ended September 30, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements (Unaudited) 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.
Controls and Procedures
Controls and Procedures 42 PART II. OTHER INFORMATION: Item 1.
Legal Proceedings
Legal Proceedings 44 Item 1A.
Risk Factors
Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 3. Defaults Upon Senior Securities 50 Item 4. Mine Safety Disclosures 50 Item 5. Other Information 50 Item 6. Exhibits 51 Signature 52 2
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements CBIZ, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,076 $ 8,090 Restricted cash 43,104 30,362 Accounts receivable, net 476,565 380,152 Other current assets 42,902 34,895 Current assets before funds held for clients 563,647 453,499 Funds held for clients 112,148 159,186 Total current assets 675,795 612,685 Non-current assets: Property and equipment, net 55,677 57,012 Goodwill and other intangible assets, net 1,030,104 1,008,604 Assets of deferred compensation plan 165,466 143,499 Right-of-use assets, net 199,808 211,024 Other non-current assets 6,520 10,768 Total non-current assets 1,457,575 1,430,907 Total assets $ 2,133,370 $ 2,043,592 LIABILITIES Current liabilities: Accounts payable $ 87,154 $ 82,831 Income taxes payable 12,247 2,097 Accrued personnel costs 116,884 133,593 Contingent purchase price liabilities 54,644 66,287 Operating lease liabilities 38,939 36,283 Other current liabilities 30,730 30,937 Current liabilities before client fund obligations 340,598 352,028 Client fund obligations 112,319 159,893 Total current liabilities 452,917 511,921 Non-current liabilities: Bank debt 337,300 312,400 Debt issuance costs ( 1,465 ) ( 1,574 ) Total long-term debt, net 335,835 310,826 Income taxes payable 2,218 1,984 Deferred income taxes, net 33,623 29,287 Deferred compensation plan obligations 165,466 143,499 Contingent purchase price liabilities 23,358 48,659 Lease liabilities 190,055 203,905 Other non-current liabilities 1,978 1,893 Total non-current liabilities 752,533 740,053 Total liabilities 1,205,450 1,251,974 STOCKHOLDERS' EQUITY Common stock 1,379 1,374 Additional paid in capital 850,076 832,475 Retained earnings 986,845 855,084 Treasury stock ( 910,537 ) ( 899,093 ) Accumulated other comprehensive income 157 1,778 Total stockholders' equity 927,9