Crawford & Company Q2 2023 revenues up 9% YoY; net income rises 45%

CRAWFORD & CO

Q2 2023 revenues of $320.7M (+9% YoY); net income $8.4M (+45%); diluted EPS $0.17 for both share classes.
Adjusted operating earnings $22.8M (+85% YoY); adjusted EBITDA $31.5M (+49%); margins expanded.
Platform Solutions revenue grew 22.1% YoY; all four operating segments posted revenue growth.
Quarterly dividend raised to $0.07 per share; net debt $195.3M; leverage ratio 1.80x EBITDA.
Added $26M in new/enhanced business; operating cash flow $27.2M in 1H 2023 vs. -$12.8M in 1H 2022.

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