---
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"
generated_at: "2026-06-18T12:17:59.954072+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Crawford & Company reports record Q4 revenue $322.2M; GAAP net loss $14.1M on impairment and tax reserves

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-006256
- JSON: https://secwatch.observer/filing/0000950170-23-006256.json
- Plain text: https://secwatch.observer/filing/0000950170-23-006256.txt

## Key facts
- Earnings Releases
  CRAWFORD & CO reported the fourth quarter ended December 31, 2022 results: revenue $322.2 million, net income $(14.1) million, EPS $(0.29).
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $322.2 million
  - Net income: $(14.1) million
  - EPS: $(0.29)
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm
- Earnings Releases
  CRAWFORD & CO reported the fiscal year ended December 31, 2022 results: revenue $1.189 billion, net income $(18.3) million, EPS $(0.37).
  - Period: the fiscal year ended December 31, 2022
  - Revenue: $1.189 billion
  - Net income: $(18.3) million
  - EPS: $(0.37)
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.