Crawford Q1 revenue up 10% to $279M; net income falls to $5.1M; repurchases 2.2M shares

CRAWFORD & CO

Revenues before reimbursements $279.0M (+10% YoY); net income $5.1M vs $6.1M; diluted EPS $0.10 vs $0.11.
Non-GAAP adjusted EPS $0.15 flat YoY; adjusted EBITDA $21.9M (7.8% margin) vs $22.2M (8.8%).
Platform Solutions revenue surged 35% to $48.9M; operating earnings doubled to $8.0M. International Operations loss widened to $3.1M.
Repurchased 2.2M shares for $16.1M in Q1; net share count reduced 10% since 2018.
Operating cash flow used $15.3M vs provided $1.6M; free cash flow -$22.9M. Debt rose to $232.6M.

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