> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# CBIZ Flags Another $15 Million In One-Time Legal Costs Missing From Monday's Results
- URL: https://www.bullished.co/cbiz-flags-another-15-million-in-one-time-legal-costs-missing-from-mondays-results-df27d53f/
- Published: 2026-10-22T17:20:59.000Z
- Updated: 2026-10-22T17:20:59.000Z
- Description: The extra expense would cut net income by about $10.5 million after tax, while adjusted profit measures stay unchanged, the company said.
- Author: Matteo Parrino
- Tags: Earnings, CBZ, Industry: Industrials

[CBIZ](https://www.bullished.co/tag/cbz/), the accounting and advisory firm that Grant Thornton has agreed to buy, said Thursday its quarter-end review found [about $15 million](https://www.sec.gov/Archives/edgar/data/0000944148/000119312526428672/d120166d8k.htm?ref=bullished.co) in one-time legal expenses that were left out of the third-quarter results it released Monday. The company expects the charge to lower net income by about $10.5 million after tax.

## Net income down, adjusted figures untouched

CBIZ said it plans to book the expense in its quarterly report on Form 10-Q for the period ended September 30, 2026\. The charge will not change adjusted net income, adjusted diluted earnings per share or adjusted EBITDA, because transaction-related legal and professional costs are added back in those measures.

Monday's release had reported [net income of $47 million and earnings per share of $0.79](https://www.globenewswire.com/de/news-release/2026/10/19/3383210/0/en/cbiz-reports-third-quarter-and-nine-months-ended-september-30-2026-financial-results.html?ref=bullished.co) under standard accounting. Those figures predate the added costs.

CBIZ said it expects to share the new information with prospective debt investors, as part of a possible financing tied to Grant Thornton's pending purchase of the company. The company said the information had not yet been publicly reported.

## A buyout financed with junk bonds

CBIZ provides accounting, tax, advisory, benefits, insurance and technology services to middle-market businesses. Its Financial Services group made up 83.4% of 2025 revenue, according to its annual report.

A Grant Thornton affiliate agreed on July 29 to buy CBIZ for $55.00 per share in cash, an enterprise value of $5.0 billion. Grant Thornton is [marketing junk bonds](https://news.bloomberglaw.com/daily-tax-report-international/grant-thornton-markets-junk-bonds-to-fund-5-billion-acquisition?ref=bullished.co) to help fund the deal, and S&P Global Ratings lists [$1.75 billion](https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3646009?ref=bullished.co) of proposed U.S. dollar senior secured notes.

CBZ shares traded at $54.87, up 0.04%, in Thursday trading, just under the [$55.00 cash price](https://www.globenewswire.com/de/news-release/2026/10/19/3383210/0/en/cbiz-reports-third-quarter-and-nine-months-ended-september-30-2026-financial-results.html?ref=bullished.co).

## Closing targeted for the fourth quarter

The deal is expected to close in the fourth quarter, subject to a shareholder vote and regulatory approvals. The 10-Q for the quarter ended September 30 will carry the added legal expense.

The 10-Q for the September quarter is where the [roughly $15 million charge](https://www.sec.gov/Archives/edgar/data/0000944148/000119312526428672/d120166d8k.htm?ref=bullished.co) will be formally booked.

### Sources

- [8-K Filing — CBIZ, Inc. (CBZ)](https://www.sec.gov/Archives/edgar/data/0000944148/000119312526428672/d120166d8k.htm?ref=bullished.co) — SEC EDGAR
- [Grant Thornton Advisors LLC's Proposed Senior Sec | S&P Global Ratings](https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3646009?ref=bullished.co) — spglobal.com
- [Grant Thornton Markets Junk Bonds to Fund $5 Billion Acquisition](https://news.bloomberglaw.com/daily-tax-report-international/grant-thornton-markets-junk-bonds-to-fund-5-billion-acquisition?ref=bullished.co) — news.bloomberglaw.com
- [CBIZ Reports Third-Quarter and Nine Months Ended September](https://www.globenewswire.com/de/news-release/2026/10/19/3383210/0/en/cbiz-reports-third-quarter-and-nine-months-ended-september-30-2026-financial-results.html?ref=bullished.co) — globenewswire.com

### More on CBIZ

- [CBIZ Third-Quarter Net Income Rises 56.7% To $47 Million, With No Guidance Or Call Ahead Of Grant Thornton Deal](https://www.bullished.co/cbiz-third-quarter-net-income-rises-56-7-to-47-million-with-no-guidance-or-call-ahead-of-cb389ce8/)

[All CBIZ (CBZ) coverage →](https://www.bullished.co/tag/cbz/)