---
schema_version: "secwatch.filing_event.v1"
accession: "0001053706-23-000025"
form_type: "8-K"
ticker: "CRAI"
cik: "0001053706"
company_name: "CRA INTERNATIONAL, INC."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-08T23:14:08.605880+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# CRA Q3 revenue $147.6M (-0.6% YoY); net income down 27.6%; FY guidance cut

## Summary
- GAAP EPS $1.21 vs $1.63 YoY; non-GAAP EPS $1.13 vs $1.45; utilization fell to 66% from 74%.
- Full-year FY2023 revenue guidance lowered to $610-$620M from $625-$640M; non-GAAP EBITDA margin 10.3%-10.7% from 11.0%-11.7%.
- CEO cited unexpected slowdown in new project originations and higher headcount as key drivers of the miss.
- Forensic Services and Life Sciences practices delivered double-digit revenue growth; international revenue up 13.2% YoY.
- Board raised quarterly cash dividend 17% to $0.42/share, payable Dec 8 to holders of record Nov 28.

## SEC filing metadata
- accession: 0001053706-23-000025
- form_type: 8-K
- ticker: CRAI
- cik: 0001053706
- company_name: CRA INTERNATIONAL, INC.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1053706/000105370623000025/0001053706-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1053706/000105370623000025/crai-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001053706-23-000025
- JSON: https://secwatch.observer/filing/0001053706-23-000025.json
- Plain text: https://secwatch.observer/filing/0001053706-23-000025.txt

## Key facts
- Earnings Releases
  CRA INTERNATIONAL, INC. reported fiscal third quarter ended September 30, 2023 results: revenue $147.6 million, net income $8.6 million, EPS $1.21 per diluted share. Guidance lowered.
  - Period: fiscal third quarter ended September 30, 2023
  - Revenue: $147.6 million
  - Net income: $8.6 million
  - EPS: $1.21 per diluted share
  - Guidance: lowered
  - Result: reported results
  source text: operations continued their strong performance by expanding 13.2% year over year.” Highlights for Third Quarter Fiscal 2023 • Revenue declined 0.6% year over year to $147.6 million. • Utilization was 66%, and quarter-end headcount increased 11.3% year over year. • Net income decreased 27.6% year over year to $8.6 million, or 5.8% of revenue, compared with
  evidence_url: https://www.sec.gov/Archives/edgar/data/1053706/000105370623000025/0001053706-23-000025-index.htm

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