secwatch.observer — SEC 8-K summary
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Issuer:     CRAWFORD & CO (CRD-A)
CIK:        0000025475
Form:       8-K
Filed at:   2023-03-06T23:59:59+00:00
Accession:  0000950170-23-006256
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/0000950170-23-006256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25475/000095017023006256/crda-20230306.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-006256

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