secwatch.observer — SEC 8-K summary
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Issuer:     CRAWFORD & CO (CRD-A)
CIK:        0000025475
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-051329
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crawford Q1 net income falls 73% to $2.8M; revenue down 5% to $301.7M
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- GAAP diluted EPS $0.06 for both CRD-A and CRD-B, down from $0.22 in Q1 2023.
- Non-GAAP adjusted EPS $0.13, down from $0.28; adjusted EBITDA $20.6M vs $32.8M.
- Broadspire segment revenue hit record $94.3M, up 12.2% YoY; Platform Solutions fell 49.2% due to absence of ~$30M catastrophe claims.
- Net cash used in operations $19.8M vs $0.4M used a year ago; free cash flow -$29.4M.
- No severe weather activity in Q1 2024; company notes non-weather businesses performed well.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25475/000095017024051329/0000950170-24-051329-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25475/000095017024051329/crda-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-051329

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