Crawford Q2 2020 Earnings Report
Key Takeaways
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.
Crawford
Crawford
Crawford Revenue by Geographic Location
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.