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Crawford anticipates operating earnings of up to $95M in 2018

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Crawford anticipates operating earnings of up to $95M in 2018

Crawford & Co. expects to post consolidated operating earnings of $85.0 million to $95.0 million for full year 2018.

The company expects consolidated revenues before reimbursements of $1.12 billion to $1.14 billion and consolidated adjusted EBITDA of between $127.0 million and $137.0 million.

On a non-GAAP basis, net income attributable to shareholders is expected to be $43.0 million to $48.0 million, or 78 cents to 88 cents per nonvoting class A common share, and 71 cents to 81 cents per voting class B common share.

Crawford does not anticipate any restructuring and special charges in 2018. Additionally, the company's 2018 guidance assumes a 31.7% effective tax rate because of the tax reform. However, this estimated effective tax rate does not include any subsequent adjustment to the provisional estimate of the 2017 impact.

For the fourth quarter 2017, Crawford posted a net loss attributable to shareholders of $2.0 million, compared to net income attributable to shareholders of $7.8 million, for the fourth quarter of 2016.

For the full year 2017, the company reported net income attributable to shareholders of $27.7 million, compared to $36.0 million in 2016.