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Dec 31, 2020
Crawford Q4 2020 Earnings Report
Crawford & Company reported fourth quarter results for 2020, aided by weather claims.
Key Takeaways
Crawford & Company's Q4 2020 results exceeded expectations, driven by the strength of its core business and the perseverance of its employees. The company expanded profitability, with revenue and operating earnings above Q4 2019 levels, while also strengthening the balance sheet by reducing net debt.
Revenues before reimbursements increased to $257.4 million compared to $247.2 million in Q4 2019.
Net income attributable to shareholders was $9.4 million, compared to a loss of $7.3 million in the same period last year.
Diluted earnings per share were $0.18 for both CRD-A and CRD-B, compared to a loss in the prior year fourth quarter.
Non-GAAP adjusted EBITDA was $27.9 million, or 11.0% of non-GAAP revenues, compared to $27.5 million, or 11.1% of revenues, in the 2019 fourth quarter.
Crawford
Crawford
Crawford Revenue by Geographic Location
Revenue by Geographic Location
US Revenue
CapyFin.comUK Revenue
CapyFin.comCanada Revenue
CapyFin.comAustralia Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Crawford is confident in its 2021 outlook as the COVID-19 pandemic recedes and they see the benefits of new and enhanced client wins. They have realigned their business to enhance client service and drive clarity of executing revenue and profit expansion initiatives.
Positive Outlook
- Confident in 2021 outlook as COVID-19 pandemic recedes
- Benefits from success from new and enhanced client wins
- Realigned business to enhance client service
- Driving clarity of executing revenue and profit expansion initiatives
- Staying focused on strategy
Challenges Ahead
- No specific negatives were mentioned in the provided text.