NYSE$CRD-A

Crawford & Company · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Crawford & Company's operating performance demonstrated resilience amidst global economic challenges.

Crawford & Company reported revenues of $234.4 million and net income of $5.9 million for the second quarter of 2020. While operating results were below 2019 levels, the company considers its operating earnings of $18.7 million a strong result given the current global economic environment.

  • Revenues before reimbursements were $234.4 million, compared to $256.9 million in Q2 2019.
  • Net income attributable to shareholders was $5.9 million, compared to $2.6 million in the same period last year.
  • Diluted earnings per share were $0.11 for both CRD-A and CRD-B, compared to $0.06 and $0.04 respectively in the prior year.
  • Consolidated adjusted EBITDA was $25.9 million, or 10.8% of non-GAAP revenues, compared to $31.2 million, or 12.1% of revenues, in Q2 2019.

Headline financials

Total Revenue

$243M

Previous: $268M-9.3%
EPS (adj)

$0.16

Previous: $0.19-15.8%
Adjusted EBITDA

$25.9M

Previous: $31.2M-17.0%
Operating Margin

7.8%

Previous: 8.8%-11.4%
Capital Expenditures

-$5.48M

Previous: -$3.73M-46.8%
Free Cash Flow

$422K

Previous: -$1.09M+138.8%
Net Income

$5.9M

Previous: $2.64M+123.2%
Operating Income

-$226M

Previous: -$256M+11.8%
Gross Profit

$70.8M

Previous: $82M-13.6%
Cash & Equivalents

$60M

Previous: $39.2M+53.1%
Total Assets

$747M

Previous: $794M-5.9%

Revenue & EPS history

Crawford · Revenue · Quarterly

$243M

Q2 2020-9.3%vs Q2 2019
Beat estimate in 6 of 11 quarters(55%)
ActualEstimate

Revenue by segment

Crawford · $326M total across 4 segments · Q3 2023

  • International Operations
    $98.1M+13.9%
  • Broadspire
    $88.3M+12.7%
  • North America Loss Adjusting
    $79.4M+18.8%
  • Platform Solutions
    $59.8M-6.0%

Forward guidance

The Company expects the ongoing global economic slowdown resulting from COVID-19 could have a material impact to its results of operations, financial condition, and cash flow in one or more future quarters.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2020

Historical avgQ2 2020

-0.9%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+1.6%

Avg return

30 days after

48%

34 / 71 earnings

Positive

+16.5%

Q1 2011

Best reaction

-25.2%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.4%-4.5%+1.4%
Q4 2025-5.1%-3.7%-6.8%
Q3 2025+2.1%+2.9%+1.4%
Q1 2025-3.0%-4.8%-6.4%
Q4 2024-1.7%-5.3%-12.1%
Q3 2024+4.8%+6.7%+5.7%
Q2 2024+0.7%-1.2%+8.7%
Q1 2024+5.9%-0.6%-2.2%
Q4 2023-25.2%-32.7%-24.5%
Q3 2023+4.7%+9.9%+21.9%
Q2 2023-1.9%-3.6%+9.7%
Q1 2023+0.8%+8.7%+11.2%
Q4 2022+13.7%+20.8%+59.2%
Q3 2022+3.9%+4.4%-4.8%
Q2 2022-3.0%-0.6%-15.7%
Q1 2022+0.7%-1.7%+2.3%
Q4 2021-2.9%-1.0%+7.4%
Q3 2021-6.1%-5.6%-16.7%
Q2 2021-3.5%-0.4%-4.6%
Q1 2021-3.7%-6.3%+0.9%
Q4 2020+5.8%+5.8%+7.7%
Q3 2020+13.0%+7.8%+18.6%
Q2 2020-0.8%+7.9%+0.1%
Q1 2020-4.7%-9.1%-2.1%
Q4 2019+3.8%-0.9%-17.2%
Q3 2019-3.2%+1.9%+2.7%
Q2 2019+2.7%+1.1%-1.9%
Q1 2019-0.6%+0.8%+0.6%
Q4 2018+7.2%+8.8%+3.4%
Q3 2018-0.6%+0.7%-1.1%
Q2 2018+0.5%+1.4%+3.0%
Q1 2018-1.7%-2.0%-1.5%
Q4 2017-7.2%-4.1%-3.4%
Q3 2017-23.0%-17.7%-10.7%
Q2 2017-0.1%+1.5%+29.4%
Q1 2017-11.9%-13.3%-11.8%
Q4 2016+0.6%-7.6%-6.6%
Q3 2016+1.5%+11.7%+17.9%
Q2 2016-0.2%-0.6%+0.7%
Q1 2016+7.6%
Q4 2015+16.2%
Q3 2015-13.0%
Q2 2015+0.9%
Q1 2015-1.9%
Q4 2014-3.5%
Q3 2014-8.6%
Q2 2014+5.6%
Q1 2014-10.1%
Q4 2013+2.1%
Q3 2013-4.7%
Q2 2013+3.0%
Q1 2013-0.7%
Q4 2012+1.7%
Q3 2012+1.1%
Q2 2012+4.2%
Q1 2012-3.1%
Q2 2011+1.7%
Q4 2011+1.7%
Q3 2011-3.6%
Q1 2011+16.5%
Q4 2010-5.4%
Q2 2010-5.4%
Q3 2010+11.6%
Q1 2010+4.0%
Q2 2009+6.2%
Q4 2007+6.2%
Q4 2009+6.2%
Q3 2008-18.8%
Q1 2009-18.8%
Q3 2009-18.8%
Q4 2008-6.9%

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