and everyone. Thank Jerry, morning, you, good
few acquisitions and released talk Total revenue morning. last revenue with XX.X% compared this by the numbers the X% or key in the year-to-date up year million, another up up a X.X%, with about million quarter by $XX.X was second of Same-unit me million, over contributing quarter we Let minutes take a $XX.X second growth $XX.X highlights to year. second increased quarter to ago. or
with this core on will Jerry in this expense with in well compared rate rate previously related headwinds exceptions After the detail headwinds quarter the that quarter, in interest as in and second our We commented, tax and prior an the half year strong to moment, two extraordinarily higher the increase a first business commented performed I of year. year. first
was year. XX% In earnings the adjusted first last in reported half, increase per share with compared up
impact for half. $X.XX earnings higher is it $X.XX a first includes to share from per in think expense know impact tax growth per of rate headwinds this higher year-over-year and I of important rates share interest that includes a the
This items raise two naturally results. disproportionately quarter creates As second may that optics Jerry concerns. impacted commented,
So are jump additional the detail behind let happened in actions and provide taking. me and some what we
aware six-month earlier may year that California severe IRS to the that extension tax flooding generally be Many of in broadly defined due weather applies of conditions that -- state year. the a occurred to granted the broadly filing and this within areas you
Our Financial at core impact that share, estimate half Financial half Services We impact annual revenue we with delay first of work the tax expected is this staff most $X.XX second normal could and in the California Group. this second of within without $XXX year. this that quarter through be first second work of This Services results. the course, this the of And half occurring results per first period and half revenue. the impact our approximately million, half we seasonality in in will impacts this carried second quarter typical about done as in is core versus
Health second growth impacted With business has at revenue item delays and result $XXX results. engagements our quarter Government Care earnings annual primarily impact in years. hundreds steady in in revenue was many million underway results consulting active second is in a that of which been and The any achieving impacted performer approximately over that work project a of business, revenue. The time, this
to time, gets time delayed. our project for From control, reasons work beyond
is delays be the to data the delays state can the work state where agency contract from times, ready for staff result the RFP information our as not a renewal to in at scheduled. perform regulated or agencies process of necessary with Sometimes administrative this due us
of In midyear. the a the second where quarter, occur learned expected to renewal contract normal we significant cycle was
a This business into delays XXXX. to are renewal or pushing high very new project of CBIZ. pipeline typically work of this with now proposals administrative project percentage However, steady a sees awarded renewing
is no year exception. This
Our line board expectations. in new smooth these would has may pipeline encounter. out normally serve engagements mitigate impact we on been any activity to new generated that delays new project are projects is have this occasionally launch. many year, healthy in But slow and the Bringing and that of with awards to
$X.XX that to In first contribution the revenue necessary as caused to second we was and, quarter. per delayed the by I second impacted therefore, planned. earnings a the delayed decline for in approximately manner work in work lower results share from to similar approximately the this This with perform California, a that quarter per business in tax described carried $X.XX share and staff half attributed
work California this Health go with work, tax date. at Government consulting not away does but Care As later will a occur
quarter. of year, from newly awarded start the half the to contract now the being started aside in second scheduled the is XXXX, third at into major or have are that contracts Looking the pushed either
second projecting are in stronger business. relatively we the for half results So this
also we in with second revenue this taking revenue. immediate to As half business, costs project align projected we're actions
high business full this single-digit and year. demand year. we for As to business XX% organically, grew expect grown group, Driven annually last has in at this for this a pent-up achieve earnings by result, approximately time, revenue Over the post-pandemic growth in rates. revenue business
challenge. presents So this year a comparison in XXXX, the year-over-year
with a Okay, provided these so to we quarter comments, I information comments deeper two can and on these level shift CBIZ. referenced, items second that I back of
$XX.X six $XX.X last revenue by the XX.X% compared total by revenue acquisitions X% this up with year revenue For year. million with year, six X.X% to million, million, by or for grew months grew last for up the months contributing year. Same-unit this with months six $XX.X growth the or compared
revenue X.X% for for revenue or $XX.X same-unit was by services. million, quarter up Within million, grew the traditional advisory with XX.X% total by as accounting growth recorded second core well within revenue Financial Services, quarter, up and $XX up the second as
grew Financial X.X% recorded a months single-digit services. revenue national total similar high X up revenue within growth services the advisory million, Services with core $XX X and and for for For was revenue by months, in the our single-digit up Same-unit XX.X%. high growth
for X.X%. X same-unit Insurance, months, the quarter, revenue grew revenue same-unit for grew X.X%. and Benefits by Within second And the
We additional in investments and committed as continue made production. traction business we to hire are gained growth production. Benefits have client client producers seeing producers. The make recent increasing and to new to Insurance retention investments We enhancing to and further remain years new strong continue strong in within hiring we business we see has new
we with Advisors $XX to earlier from acquisition. XXXX, we million. acquired Somerset disclosed this expect approximately February estimated In revenue XXXX annual of this approximately CPAs previously revenue and $XX record of in As million year, of
stage Somerset at business this We is are of the extremely on pleased acquired newly well. to board have the team early performing and
manner report costs that from There closing Paneth eliminate reported this are from we with plus can costs transaction these year, so reported to Marks a associated an GAAP year. reporting acquisition-related that adjustment In similar onetime we results acquisition-related last this costs results adjusted are expenses transaction. integration-related costs and
earnings You will included the release. these as find a items in reconciliation a of schedule
view $X.XX items you of for so considering results X share on, year. have a per meaningful the the months earnings adjusted was XX.X% comparable presenting adjustments, with the a eliminating towards I Adjusted are better second the same compared a months, impact this per of which already $XXX.X for XX% EBITDA, quarter impacting ago. commented X last adjusted earnings information the $XXX.X With million million EBITDA share up and factors $X.XX, over is adjusted X year up year this these of year, understanding,
of and see marketing as expenses We expenses have XXX previously benefits, travel expenses that levels. of are to expenses about but talked and below higher to collectively entertainment levels level These health pre-pandemic continue these the basis normalize. year-over-year normalizing impacts and points XXXX, care we are
XX the months to year these expenses a tax ago. this a margin first compared basis before with on For income year, point X headwind of represented
headwind. that settle a a period time, the lower than project to continue We but for comparison pre-pandemic will year-over-year levels, of in expenses presents these
per interest margin second approximately for million, $X.X impacted per headwind quarter, $X.XX share the of we that approximately $X.XX the interest this we and reported expense approximately And by $X.X is of months, increase share. in share an X basis that in For and increase per an XX million reported earnings earnings to by expense points. share, per impacted of and a
look and deferred gains a of XXXX the period margin is impact income. at losses the with capital we this accounting reported nonqualified plan as outlined in numbers to in capital there compensation are As impact of always, are operating details both gains markets a year, and markets with comparing GAAP for you release. Because gross our the significant compared in losses
is pretax by income impacted margin not accounting. As a reminder, this
was the $XXX.X this year, to flow share The to with June adjusted outstanding million continue approximately with balance Turning the on unused and year repurchases. items, the provides this of strong about EBITDA. capacity. balance the sheet cash the $XXX $XXX XX of unsecured facility on June million, of XX capacity This acquisitions flexibility leverage plenty on Xx provides continue strategic to with is million
used which first includes well total on the these approximately addition this In transactions. acquisitions. $XX.X in acquisitions, previously acquisitions acquisition months we Somerset to earn-out X closed X discussed tuck-in year, million the We as X smaller completed of above, as payments a for
$XX.X use estimated in year to $XX.X million for year $XX.X in payments. and the million this earn-out remainder and of XXXX We million approximately next million another in over XXXX $XX.X XXXX, expect these
capital have transactions, and be our Deploying strategic $XXX purposes continues Since we XX deployed have acquisition the highest capital closed approximately of million of XXXX, for for acquisition end to purposes, Through priority. we our earn-out have time. shares including at we this of market XXX,XXX year, repurchased in stock the of payments common June over the XX $XX.X million. approximately approximately a cost open
was outstanding first first months a was year, activity used days XXXX, To of open points years, basis this more debt X.X have expense days, months recent year shares the this capital a year Bad XXXX. Approximately that million that period. repurchased sales than ago. Days this June recap, with shares XX% the repurchase compared approximately the repurchase of and ago. in to represents of million $XXX has market outstanding for XX six we compared been nine end the points XX over activity revenue year of end XX XX on towards to of the since slightly basis compared six
and $X.X million $XX.X expense last was the quarter second $XX.X $X.X is with versus year. compared for million and last depreciation amortization Year-to-date, year. Depreciation million, amortization million
full expect year. approximately at the amortization $XX For $XX million year, depreciation and million, approximately with compared we last
improvements year, is Greater related the spending is leasehold upcoming spending year and our quarter move headquarters any this and million In tenant new the of facilities. facilities. was capital six second with our $X.X for most Capital months. for our $XX.X to is million office planned for to for improvements spending associated furniture
later tenant we headquarters are a major our building planned a in move this headquarters a new is new and year. As the reminder, to long-term with a lease
an the building. are owner of We not
ago. this to The capital benefits up certain XXXX. For in grandfathered as the XX.X%, a approximately six expecting a year is expiration primarily compensation Act the Tax for that from increase stock-based Reform rate XX.X% spending of to full million year year in rate $XX the the with tax be this The effective months of result tax year, were million. we're associated provided $XX of effective tax was
tax of approximately effective per effective headwind approximately a in that $X.XX to level 'XX to XXXX. expect impact tax unique full years, year The impact The rate of And increased no be $X.XX we the XX%, compared we at With year-over-year with beyond in first half this year. increased future is full was tax is forecasted we In expect rate the XX%. the share. this further year share. project rate at the year approximately relatively rate effective a per headwinds
we to Benefits cycles. nature of point, business, essential employment-driven provide and recurring Payroll At we on continued our revenue we are we more if uncertainty look experience seeing structure Economic impact. this measures in as can through many steady our the however, sustained clients. economic within of mitigate at we variable metrics our The employment to services a cost number growth, of of have were in stability items and and signs our and our within take continues, pressure
have in are make client gained are systems margins. business, and seeing our growth. tools we to made and with focused Insurance put we pricing pressures. have continuing protect enabled new strong particularly traction. new recent The coupled pace revenue place that costs Benefits have leverage years in strong can us business we driving and with in within is and We keep investments to underlying The and producers, retention Group cost And increase
per year talked results factors, on earnings earnings. math per rate was it rate I you provide operating over generally higher interest much of XX% with these see reported back higher that impact was the line before to increased in thoughts impact half want share, you impact With half items you Absent Even can the with and initial tax first the and share, full of first growth of to the generate two increase would $X.XX adjusted a with expectations. our the can do per about, I results in turn expense $X.XX we guidance. Jerry, Now, a share. in are
this you business performing very Insurance well are that tells Benefits Financial first core strong within and Services our I both think half and with results.
year, a outlined. all Looking basis XX the with XX described second margin in there headwinds project in actions pretax are the the factors reasons half for We two at in the improvement are points focused XXXX, full we second taking, target recovery quarter that of typically we I earlier. year. But we each to a that
earnings the full our revenue for that XX% adjusted of XXXX revenue we'll share on adjusted earnings total to within increase range of XX% year up range year, recap over expect last a say to reported to $X.XX XX% to Increasing per we increase adjusted within was On XX% previously. guidance guidance, a we from expect following. growth, basis, an the to So X% of year. share our to per XX% the
expected share, XX%. reported earnings over expected range reported the The in XXXX. GAAP XXXX is approximately per at of is XX% increase year for full of to the XX% within effective $X.XX tax to a rate
XX.X or Now full within weighted million year by the unpredictable count this average million factors. is fully of to XX.X share be number down diluted for And impacted up of lastly, a a could XXXX. shares either range expected the of
I'll it and Jerry. comments, to these back turn I'll with So conclude
