CBIZ (CBZ) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue was $682.2M, down 0.2% year-over-year; six-month revenue rose 0.6% to $1.53B.

• Q2 2026 net income was $18.6M ($0.31/diluted share), down from $41.9M ($0.66/diluted share) in Q2 2025; six-month net income rose to $171.4M ($2.83/diluted share) from $164.7M ($2.58/diluted share) year-over-year.

• Adjusted EBITDA for Q2 was $103M, down 14.3%; for the first half, $347M, down 3.8%.

• A definitive merger agreement was signed on July 28, 2026, for a $5.0B all-cash acquisition at $55/share, expected to close in Q4 2026, pending customary approvals.

• The company withdrew 2026 financial guidance and suspended further updates due to the pending transaction.

Financial highlights

• Q2 2026 revenue: $682.2M (down 0.2% YoY); six-month revenue: $1.53B (up 0.6% YoY).

• Q2 2026 net income: $18.6M (down 55.6% YoY); six-month net income: $171.4M (up 4.1% YoY).

• Q2 2026 gross margin: $72.4M (10.6% margin); six-month gross margin: $298.5M (19.5% margin).

• Q2 2026 operating income: $34.1M (down 43.4% YoY); six-month operating income: $218.6M (down 16.0% YoY).

• Q2 2026 EPS: $0.31 (down from $0.66 YoY); six-month EPS: $2.83 (up from $2.58 YoY).

Outlook and guidance

• Fiscal 2026 guidance withdrawn and no further updates will be provided due to the pending acquisition.

• Management expects continued softness in demand for nonrecurring project-based services due to economic and geopolitical uncertainty.

• Focus remains on organic growth, technology investment, debt reduction, and strategic acquisitions.

• Cash flow and available credit are expected to be sufficient for ongoing requirements.