Crawford Q1 revenue $313M (+12% YoY), net income doubles to $10.7M; adjusted EPS $0.28

CRAWFORD & CO

Revenue before reimbursements $313.0M (+12% YoY); net income $10.7M ($0.22 diluted EPS) vs $5.1M ($0.10) prior year
All segments grew: N.A. Loss Adjusting +19.7%, Broadspire +6.2%, Platform Solutions +28.6%, International +2.9% with margin expansion
Non-GAAP adjusted EBITDA $32.8M (10.5% margin) up from $21.3M (7.6%) a year ago
Free cash flow improved to -$9.1M from -$22.9M in Q1 2022; no share repurchases in current quarter
Currency headwinds reduced revenue by $9.4M (-3%); constant-currency revenue growth was 16%

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 first quarter ended March 31, 2023 results: revenue $313.0 million, net income $10.7 million, EPS $0.22.

Period: first quarter ended March 31, 2023
Revenue: $313.0 million
Net income: $10.7 million
EPS: $0.22
Result: reported results

Exact text from the filing

GAAP Consolidated Results First Quarter 2023 • Revenues before reimbursements of $313.0 million, up 12% over $279.0 million for the 2022 first quarter • Net income attributable to shareholders of $10.7 million, more than doubling the $5.1 million in the same period last year • Diluted earnings per share of $0.22 for both CRD-A and CRD-B, compared with diluted earnings per share of $0.10 for both CRD-A and CRD-B in the prior year first quarter

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Source: SEC EDGAR

accession 0000950170-23-017235

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