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CRA International Inc. (CRAI), operating as Charles River Associates, is a globally recognized consulting firm specializing in providing expert advisory services in economic, financial, litigation, regulatory, and management consulting. Founded in 1965 and headquartered in Boston, Massachusetts, CRAI has established itself as a trusted partner for businesses, government agencies, and trade associations seeking objective and data-driven solutions to complex challenges.
Core Business Areas
CRAI's operations are structured around delivering high-value consulting services across several critical domains:
- Litigation and Regulatory Consulting: The company provides economic and financial analysis to support litigation and regulatory proceedings, assisting clients in navigating complex legal and compliance landscapes.
- Management Consulting: CRAI advises businesses on strategic and operational issues, helping them optimize performance, enhance efficiency, and achieve long-term goals.
- Financial Advisory: The firm offers expert guidance on financial matters, including valuation, risk management, and transaction advisory.
Global Reach and Industry Expertise
With offices spanning multiple countries, including the United States and the United Kingdom, CRAI serves a diverse clientele ranging from multinational corporations to government entities and trade associations. The firm's industry expertise is broad, covering sectors such as healthcare, energy, telecommunications, and financial services. This extensive knowledge base enables CRAI to tailor its consulting services to the specific needs of each client, ensuring actionable and impactful outcomes.
Revenue Model
CRAI primarily generates revenue through project-based engagements and long-term advisory retainers. Its business model relies on delivering bespoke solutions that address the unique challenges faced by its clients. By combining technical expertise with strategic insights, CRAI creates significant value, justifying its premium consulting fees.
Competitive Landscape
Operating in the highly competitive professional services industry, CRAI faces competition from global consulting giants such as McKinsey & Company, Boston Consulting Group, and specialized firms focusing on economic and financial consulting. CRAI differentiates itself through its unique blend of functional expertise and deep industry knowledge, as well as its commitment to providing objective, data-driven solutions.
Significance in the Industry
CRAI plays a pivotal role in addressing critical business and regulatory challenges. Its ability to provide rigorous analysis and strategic guidance makes it an indispensable partner for organizations navigating complex environments. By leveraging its global presence and multidisciplinary expertise, CRAI continues to be a key player in the consulting industry.
Charles River Associates (NASDAQ: CRAI), a leader in economic and financial consulting, will attend the 15th Annual Barrington Research Fall Investment Conference on September 8, 2022. Key executives, including President Paul Maleh, CFO Daniel Mahoney, and Chief Corporate Development Officer Chad Holmes, will engage in virtual one-on-one investor meetings. The firm specializes in providing consulting services that navigate economic, litigation, and regulatory challenges.
CRA International, Inc. (NASDAQ: CRAI) announced a successful procurement process for Indiana’s Crossroads EV Corridor, promoting electric vehicle (EV) use with a network of charging stations. The RFP attracted 17 vendors, with Shell Recharge selected to deploy fast-charging equipment. The project, backed by grants from the Indiana Department of Environmental Management, will enhance air quality and is expected to launch its first chargers by December 2022 and complete by December 2023. The initiative illustrates the growing maturity of EV technology and demand for extensive charging networks.
Charles River Associates (NASDAQ: CRAI) has announced a new five-year revolving credit facility totaling up to $250 million, expandable to $200 million during specific periods. This facility replaces an existing one worth $175 million and aims to enhance working capital for business growth. The new arrangement includes improved financial covenants and pricing, involving a syndicate that includes TD Bank, Eastern Bank, and Brookline Bank. The funds will be utilized for repaying previous debts and other corporate needs.
Charles River Associates (NASDAQ: CRAI) announced its participation in the 13th Annual Midwest IDEAS Investor Conference on August 24, 2022, at the Gwen Hotel in Chicago. Chief Corporate Development Officer Chad Holmes will present at 9:30 a.m. CT (10:30 a.m. ET), followed by one-on-one meetings with investors. An audio replay of the presentation will be available on the company’s investor relations website about one hour after the event concludes. CRA specializes in economic, financial, and management consulting services.
Charles River Associates (NASDAQ: CRAI) reported record quarterly revenue of $149.1 million for Q2 FY2022, a 0.6% year-over-year increase. Net income rose to $11.6 million, while earnings per diluted share increased by 2.6% to $1.57. The company reaffirmed its revenue guidance for FY2022 between $585 million to $605 million and raised EBITDA guidance, now expecting an EBITDA margin of 11.3% to 12.0%. CRA returned $20 million to shareholders through dividends and share repurchases.
Charles River Associates (NASDAQ: CRAI) has declared a quarterly cash dividend of $0.31 per common share, to be paid on September 9, 2022. Shareholders of record as of August 30, 2022 will receive this dividend. CRAI has expressed intentions to maintain quarterly dividends, although future declarations are subject to board discretion. This announcement reflects CRA's ongoing commitment to returning value to its shareholders.
CRA International, Inc. (NASDAQ: CRAI) announced the launch of GDT Pulse Auctions, with the first auction scheduled for August 9, 2022. This initiative aims to enhance price discovery in the dairy industry, complementing the existing GDT Trading Events managed by CRA since 2008. The pilot program will feature Fonterra Whole Milk Powder for bidding, with auctions occurring bi-weekly. If successful, CRA anticipates future upgrades for increased frequency and scalability. These auctions will utilize CRA’s Trading System for Efficient Markets (TSEM) for optimal bidding experiences.
Charles River Associates (NASDAQ: CRAI) announced the appointment of Patricia Thomas as a Vice President in its Forensic Services Practice. With 15 years of expertise, Thomas specializes in compliance, investigations, and litigation support across more than 25 countries. She has previously collaborated with key government agencies such as the Department of Justice and the FDIC. CRA's leadership expressed enthusiasm about her joining to enhance their investigative services aimed at clients' complex needs, particularly in compliance risk.
Charles River Associates (NASDAQ: CRAI) announced the appointment of Dr. Alva H. Taylor to its Board of Directors, effective August 1, 2022. Dr. Taylor, a professor at the Tuck School of Business, brings expertise in digital strategy and change management. His role includes serving on the Audit and Nominating and Corporate Governance Committees. Concurrently, Nancy Hawthorne has stepped down from the Board to focus on personal commitments. The leadership change follows a period of profitable growth for the consulting firm, indicating a strategic move towards continued success.
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