CBIZ disclosed an additional $15 million in one-time legal expenses identified during its third quarter 2026 financial review. The company noted that these expenses, primarily related to transaction and corporate project services for its pending merger with Grant Thornton, will be reflected in the third quarter 10-Q filing but will not affect previously reported adjusted earnings figures.
Key Highlights
- Identification of $15 million in one-time legal expenses not previously reflected in preliminary third quarter 2026 results.
- Anticipated GAAP net income reduction of approximately $10.5 million, net of tax, for the three months ended September 30, 2026.
- Confirmation that Adjusted Diluted EPS and Adjusted EBITDA remain unaffected as the costs are classified as transaction-related add-backs.
- Disclosure of $2.0 billion in senior secured credit facilities, including a $1.4 billion term loan and $600 million revolver, to support the Grant Thornton acquisition.