Crawford Q3 net loss $15.1M on $36.8M goodwill impairment; constant-currency revenue +6%

CRAWFORD & CO

GAAP net loss $15.1M ($0.31 diluted loss per share) vs net income $11.2M ($0.20/$0.21 EPS) in Q3 2021.
Non-cash goodwill impairment of $36.8M, fully impairing International Operations goodwill; after-tax impact $20.9M.
Revenues before reimbursements $294.9M, up 2% YoY; constant-currency growth 6% to $306M.
Platform Solutions revenue +12.7% to $63.7M; International Operations had operating loss of $3.8M.
Free cash flow -$41.1M YTD; total debt $257.4M vs $175M at Dec 2021; $26.7M share repurchases YTD.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CRAWFORD & CO reported the third quarter ended September 30, 2022 results: revenue $294.9 million, net income $(15.1) million, EPS $(0.31).

Period: the third quarter ended September 30, 2022
Revenue: $294.9 million
Net income: $(15.1) million
EPS: $(0.31)
Result: reported results

Exact text from the filing

unless different consideration is approved by the holders of 75% of CRD-A, voting as a class. GAAP Consolidated Results Third Quarter 2022 • Revenues before reimbursements of $294.9 million, up 2% over $288.5 million for the 2021 third quarter • The Company recorded a non-cash goodwill impairment of $36.8 million in the 2022 third quarter • Net loss attributable to

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Source: SEC EDGAR

accession 0000950170-22-023294

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