Company profile

Ticker
CRDB
Exchange
Website
CEO
Harsha Vardhan Agadi
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
580506554

CRDB stock data

(
)

Calendar

5 Mar 20
5 Apr 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Dec 19 Sep 19 Jun 19 Mar 19
Revenue 257.56M 265.84M 267.85M 256.38M
Net income -7.31M 11.05M 2.64M 6.11M
Net profit margin -2.84% 4.16% 0.99% 2.38%
Net change in cash 5.7M 6.95M -10.52M -3.45M
Cash on hand 51.8M 46.1M 39.15M 49.67M
Cost of revenue 187.66M 192.01M 185.89M 187.21M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 1.05B 1.12B 1.16B 1.18B
Net income 12.49M 25.98M 27.67M 35.97M
Net profit margin 1.19% 2.31% 2.38% 3.05%
Operating income 84.12M
Net change in cash -1.32M -892K -27.56M 5.5M
Cash on hand 51.8M 53.12M 54.01M 81.57M
Cost of revenue 752.77M 808.01M 841.99M 856.68M

Financial data from company earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
12 Mar 20 Blanco Joseph O Class B Common Stock Buy Aquire P 6.5221 2,500 16.31K 7,000
11 Mar 20 Blanco Joseph O Class B Common Stock Buy Aquire P 6.5676 2,000 13.14K 4,500
11 Mar 20 Blanco Joseph O Class B Common Stock Buy Aquire P 6.5848 2,500 16.46K 2,500
13 Feb 20 Inga K Beale Class A Common Stock Grant Aquire A 0 9,116 0 9,116
13 Feb 20 Jesse C Crawford Class A Common Stock Grant Aquire A 0 9,944 0 5,374,624
13 Feb 20 Charles H Ogburn Class A Common Stock Grant Aquire A 0 12,706 0 399,523
13 Feb 20 Williams Donald R. Class A Common Stock Grant Aquire A 0 9,944 0 53,164
13F holders
Current Prev Q Change
Total holders 87 92 -5.4%
Opened positions 8 8
Closed positions 13 11 +18.2%
Increased positions 30 34 -11.8%
Reduced positions 27 25 +8.0%
13F shares
Current Prev Q Change
Total value 260.93M 259.46M +0.6%
Total shares 20.72M 20.77M -0.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Paradice Investment Management 4.34M $48.01M 0.0%
TFC Truist Financial 2.57M $28.21M NEW
Dimensional Fund Advisors 1.94M $21.15M +0.4%
Renaissance Technologies 1.47M $15.78M -0.9%
BLK BlackRock 1.37M $15.09M +2.4%
Vanguard 1.27M $13.6M -0.4%
WFC Wells Fargo & Co. 748.23K $8.58M +1.0%
Rutabaga Capital Management 646.67K $7.12M -21.0%
First Wilshire Securities Management 572.82K $6.47M +10.2%
Kennedy Capital Management 522.93K $5.93M -5.7%
Largest transactions
Shares Bought/sold Change
STI SunTrust Banks 0 -2.57M EXIT
TFC Truist Financial 2.57M +2.57M NEW
Rutabaga Capital Management 646.67K -172.09K -21.0%
Brandywine Global Investment Management 131.31K +131.31K NEW
BK Bank Of New York Mellon 228.9K +103.7K +82.8%
NFC Investments 161.76K -88.02K -35.2%
Martingale Asset Management L P 118.24K +70.9K +149.8%
Intrepid Capital Management 488.74K -64.01K -11.6%
Millennium Management 129.59K -63.04K -32.7%
First Wilshire Securities Management 572.82K +52.81K +10.2%

Financial report summary

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Risks
  • In recent periods, we have derived a material amount of our revenues from a limited number of clients. If we are not able to retain these clients or replace these revenues, our financial condition and results of operations could be materially adversely affected.
  • TECHNOLOGY AND DATA SECURITY
  • We are subject to increased frequency and complexity of cybersecurity attacks. Our failure to effectively identify such attacks or quickly recover from such attacks could materially adversely affect our business, results of operations, and financial condition.
  • Increasing regulatory focus on privacy issues and expanding laws could impact our business models and expose us to increased liability.
  • We may not be able to develop or acquire necessary IT resources to support and grow our business, and disruptive technologies could impact the volume and pricing of our products. Our failure to address these risks could materially adversely affect our business, results of operations, and financial condition.
  • If we do not protect our proprietary information and technology resources and prevent third parties from making unauthorized use of our proprietary information, intellectual property, and technology, our financial results could be harmed.
  • We currently operate on multiple proprietary software platforms to support our service offerings and internal corporate systems. The failure or obsolescence of any of these platforms, if not remediated or replaced, could materially adversely affect our business, results of operations, and financial condition
  • A significant portion of our operations are international. These international operations subject us to political, legal, operational, exchange rate and other risks not generally present in U.S. operations, which could materially negatively affect those operations or our business as a whole.
  • We have operations in the United Kingdom ("U.K.") and the European Union that may be impacted by the U.K.'s departure from the EU, known as "Brexit". The uncertainty as to the outcome of Brexit after the transition period expires may negatively impact operations in this region or our business as a whole.
  • We currently, and from time to time in the future may, outsource a portion of our internal business functions to third-party providers. Outsourcing these functions has significant risks, and our failure to manage these risks successfully could materially adversely affect our business, results of operations, and financial condition.
  • We are, and may become, party to lawsuits or other claims or investigations that could adversely impact our business.
  • Our U.S. qualified defined benefit pension plan (the "U.S. Qualified Plan") is underfunded. Future funding requirements, including those imposed by any further regulatory changes, could restrict cash available for our operating, financing, and investing requirements.
  • We have debt covenants in our credit facility that require us to maintain compliance with certain financial ratios and other requirements. If we are not able to maintain compliance with these requirements, all of our outstanding debt could become immediately due and payable.
  • In recent periods we have incurred impairment charges that reduced the carrying value of our intangible assets and goodwill; in the future we may be required to incur additional impairment charges on a portion or all of the carrying value of our intangible assets and goodwill, which may adversely affect our financial condition and results of operations.
  • Control by a principal shareholder could adversely affect the Company and our other shareholders.
  • COMPETITION AND EMPLOYEES
  • We operate in highly competitive markets and face intense competition from both established entities and new entrants into those markets. Potential consolidation in our industry can also create stronger competition. Our failure to compete effectively may adversely affect us.
  • We may not be able to recruit, train, and retain qualified personnel, including retaining a sufficient number of qualified and experienced on-call claims adjusters, to respond to catastrophic events that may, singularly or in combination, significantly increase our clients' needs for adjusters.
  • We compete for nurses and other case management professionals in the healthcare industry, which may increase our labor costs and reduce profitability.
  • We face challenges caused by our aging workforce and we may not be able to recruit, train, and retain adequate replacements for our qualified and skilled employees.
Management Discussion
  • Consolidated revenues before reimbursements were $1.006 billion in 2019, a decrease of 6.1% compared with $1.071 billion in 2018. Net income attributable to Crawford & Company was $12.5 million in 2019, compared with $26.0 million in 2018. During 2019, we recognized arbitration and claim settlement charges of $12.6 million related to payments made to executives of our former Garden City Group business associated with their departure in 2015. The Company recognized a non-cash goodwill impairment charge in 2019 totaling $17.5 million. This charge was partially offset by a $2.2 million reduction in income tax expense and $2.2 million credit in noncontrolling interest expense. There were no goodwill impairment charges in 2018, although we recognized a $1.1 million impairment to an indefinite-lived trade name intangible asset. During 2018, the Company recorded a loss on disposition of the GCG business totaling $20.3 million.
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