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Crawford reaffirms FY'17 guidance

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Crawford reaffirms FY'17 guidance

Crawford & Co. reaffirmed its 2017 guidance, pegging revenues before reimbursements at $1.10 billion to $1.13 billion, operating earnings at $90.0 million to $100.0 million and adjusted EBITDA at $130.0 million to $140.0 million.

The company still projects net income attributable to shareholders to be between $34.0 million and $39.0 million, or 63 cents to 73 cents per nonvoting class A common stock and 55 cents to 65 cents per voting class B common stock.

Not taking restructuring and special charges into account, the figures would be $43.0 million to $48.0 million, or 78 cents to 88 cents per class A common stock and 71 cents to 81 cents per class B common stock. The restructuring and special charges for the year are still expected to total $13.0 million, pretax, with $3.0 million related to work on the company's global business services center in the Philippines and its global technology services center in India.

For the second quarter, Crawford reported net income attributable to shareholders of $10.2 million, up from the year-ago quarter's $8.6 million. EPS was 19 cents for class A common stock and 17 cents for class B common stock. In second-quarter 2016, EPS had been 16 cents for class A common stock and 14 cents for class B common stock.