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Mar 31, 2023
Crawford Q1 2023 Earnings Report
Crawford & Company's first quarter results for 2023 were reported, showing broad-based revenue growth that led to a doubling of net income.
Key Takeaways
Crawford & Company reported a strong first quarter in 2023, with a 12% increase in revenues and a doubling of net income compared to the same period last year. The company experienced growth and profit expansion across all segments, driven by solid execution of strategies and client confidence.
Revenues before reimbursements increased by 12% to $313.0 million, compared to $279.0 million in Q1 2022.
Net income attributable to shareholders more than doubled to $10.7 million from $5.1 million in the same period last year.
Diluted earnings per share (EPS) rose to $0.22 for both CRD-A and CRD-B, up from $0.10 in the prior year's first quarter.
Consolidated adjusted EBITDA was $32.8 million, or 10.5% of revenues before reimbursements, compared to $21.3 million, or 7.6% of revenues, in Q1 2022.
Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in this report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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