{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-006256","form_type":"8-K","ticker":"CRD-A","cik":"0000025475","company_name":"CRAWFORD & CO","filed_at":"2023-03-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.548625+00:00","generated_at":"2026-06-18T12:17:59.954072+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Crawford & Company reports record Q4 revenue $322.2M; GAAP net loss $14.1M on impairment and tax reserves","bullets":["Q4 revenue before reimbursements $322.2M (+10% YoY); full year $1.189B (+8%), both records.","GAAP net loss attributable to shareholders $14.1M ($0.29 loss) vs income $1.7M ($0.03) in Q4 2021; includes $11.8M tax reserve and $12.4M tax normalization from goodwill impairment.","Non-GAAP adjusted net income $11.4M ($0.23) vs $3.6M ($0.07) in Q4 2021; full year $34.8M ($0.70) vs $38.9M ($0.72).","North America Loss Adjusting rev +16.1%, margin 11.5%; Platform Solutions rev +23.7%, margin 16.8%; International Operations operating loss $5.6M including $4.1M severance.","Operating cash flow $27.6M (down from $54.3M); free cash flow -$6.965M; debt $238.9M; share repurchases $26.7M in 2022."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-006256","json":"https://secwatch.observer/filing/0000950170-23-006256.json","markdown":"https://secwatch.observer/filing/0000950170-23-006256.md","text":"https://secwatch.observer/filing/0000950170-23-006256.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/crda-20230306.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T12:17:59.954072+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0cd195997cceff84e52db8b74c7956112c9a0634","claim":"CRAWFORD & CO reported the fourth quarter ended December 31, 2022 results: revenue $322.2 million, net income $(14.1) million, EPS $(0.29).","evidence_excerpt":"Revenues before reimbursements of $322.2 million, up 10% over $292.9 million for the 2021 fourth quarter • The Company recorded income tax reserves of $11.8 million on certain international tax assets during the 2022 fourth quarter • The Company recorded income tax expense of $12.4 million during the 2022 fourth quarter related to the normalization of the tax rate associated with our third quarter 2022 goodwill impairment • Net loss attributable to shareholders of $(14.1) million, compared with income of $1.7 million in the same period last year • Diluted loss per share of $(0.29) for both CRD-A and CRD-B, compared with diluted earnings per share of $0.03 for both CRD-A and CRD-B in the prior year fourth quarter","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended December 31, 2022"},{"label":"Revenue","value":"$322.2 million"},{"label":"Net income","value":"$(14.1) million"},{"label":"EPS","value":"$(0.29)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"a3fc4723d5f376afb5dbc697d872029bc67aec9a","claim":"CRAWFORD & CO reported the fiscal year ended December 31, 2022 results: revenue $1.189 billion, net income $(18.3) million, EPS $(0.37).","evidence_excerpt":"Revenues before reimbursements of $1.189 billion, up 8% over $1.102 billion for 2021 • The Company recorded a non-cash goodwill impairment of $36.8 million, or $33.3 million after tax, during 2022 • The Company recorded income tax reserves of $11.8 million on certain international tax assets during 2022 • Net loss attributable to shareholders of $(18.3) million, compared with income of $30.7 million in 2021 • Diluted loss per share of $(0.37) for both CRD-A and CRD-B, compared with diluted earnings per share of $0.57 for both CRD-A and CRD-B in 2021","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year ended December 31, 2022"},{"label":"Revenue","value":"$1.189 billion"},{"label":"Net income","value":"$(18.3) million"},{"label":"EPS","value":"$(0.37)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}