NYSE$CRD-A

Crawford & Company · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Crawford & Company reported record revenues for the quarter and year, driven by double digit revenue growth and expanded margins in Platform Solutions and North America Loss Adjusting.

Crawford & Company reported Q4 2022 financial results, achieving record revenues for both the quarter and the full year. The company's strategy focused on technology and people contributed to this success. While North America Loss Adjusting and Platform Solutions experienced double-digit revenue growth and margin expansion, the International business faced challenges. Broadspire demonstrated solid top-line growth. The company is focused on delivering earnings growth and healthy margins across the business in 2023.

  • Revenues before reimbursements increased by 10% to $322.2 million compared to Q4 2021.
  • Net loss attributable to shareholders was $(14.1) million, compared to income of $1.7 million in the same period last year.
  • Non-GAAP net income attributable to shareholders totaled $11.4 million, compared to $3.6 million in Q4 2021.
  • Consolidated adjusted EBITDA was $30.8 million, or 9.6% of revenues before reimbursements, compared to $17.6 million, or 6.0% of revenues, in Q4 2021.

Headline financials

Total Revenue

$322M

Previous: $293M+10.0%
EPS (adj)

$0.23

Previous: $0.07+228.6%
Adjusted EBITDA

$30.8M

Previous: $17.6M+75.1%
Operating Margin

7.2%

Previous: 3.1%+132.3%
Net Income

-$14.1M

Previous: $1.6M-981.0%
Operating Income

$23.3M

Previous: $9.06M+157.2%
Cash & Equivalents

$46M

Previous: $53.2M-13.6%
Total Assets

$792M

Previous: $853M-7.2%

Revenue & EPS history

Crawford · Revenue · Quarterly

$322M

Q4 2022+10%vs Q4 2021
Beat estimate in 7 of 13 quarters(54%)
ActualEstimate

Revenue by segment

Crawford · $322M total across 4 segments · Q4 2022

  • International Operations
    $88.4M
  • Broadspire
    $78.6M
  • North America Loss Adjusting
    $77.7M
  • Platform Solutions
    $77.4M

Forward guidance

Crawford is encouraged by the robust growth trajectory going into 2023 and remains focused on ensuring that they deliver on earnings growth and return to healthy margins across the business.

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 Q4 2022

Historical avgQ4 2022

-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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