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Allstate Announces January 2025 Catastrophe Losses and Policies in Force

NORTHBROOK, Ill.–(BUSINESS WIRE)–
The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of January of $1.08 billion or $849 million, after-tax.

Catastrophe losses included three events with approximately $1.07 billion related to the California wildfires. The California wildfire event estimate includes reinsurance reinstatement premiums, an estimated California FAIR Plan assessment and is net of estimated reinsurance recoveries of $1.40 billion.

Allstate Protection policies in force are as follows:

Allstate Protection Policies in Force (1)
(in thousands)		January 31, 2025		December 31, 2024		January 31, 2024		Jan. 31, 2025 v Dec. 31, 2024		Jan. 31, 2025 v Jan. 31, 2024
Auto		24,835		24,936		25,155		(0.4) %		(1.3) %
Homeowners		7,521		7,511		7,341		0.1 %		2.5 %
Other personal lines		4,866		4,870		4,850		(0.1) %		0.3 %
Commercial lines		204		213		280		(4.2) %		(27.1) %
Total		37,426		37,530		37,626		(0.3) %		(0.5) %
(1) Policy counts are based on items rather than customers. A multi-car customer would generate multiple item (policy) counts, even if all cars were insured under one policy. Lender-placed policies are excluded from policy counts because relationships are with the lenders.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on www.allstateinvestors.com.

Forward-Looking Statements

This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220945653/en/

Nick Nottoli

Media Relations

(847) 402-5600

Allister Gobin

Investor Relations

(847) 402-2800

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Finance Natural Disasters Environment Professional Services Insurance

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Allstate and NACDA unveil nominees for inaugural Good Works Team, celebrating all college sports, athletes

Nearly 200 student-athletes across collegiate winter sports are recognized for giving back to their communities as part of the newly expanded Good Works Team.

NORTHBROOK, Ill.–(BUSINESS WIRE)–
Allstate and the National Association of Collegiate Directors of Athletics (NACDA) proudly honor 193 student-athletes excelling in academics, sports and community impact. Nominated by athletics administrators, conference office staff, and coaches, these student-athletes embody leadership, service and character and will now be considered for selection to the inaugural Allstate NACDA Good Works Team (Winter).

“These young women and men are more than competitors – they’re leaders, changemakers and role models,” said Holly Rowe, ESPN reporter, play-by-play commentator and Allstate NACDA Ambassador. “Their influence extends beyond the game, shaping communities and teaching others the value of leadership skills, like empathy, resilience and integrity, which will last a lifetime.”

Nominees at-a-glance

The 2024-25 Allstate NACDA Good Works Team (Winter) celebrates 193 nominees – 115 women and 78 men – spanning 17 sports, including basketball, swimming and diving, gymnastics, ice hockey and many others. Nominees include:

• Sierra Ballard – Louisiana State University, Women’s Gymnastics
• Paige Bueckers – University of Connecticut, Women’s Basketball
• Torie Buerger – University of Kentucky, Women’s Swimming & Diving
• Taylor Heie – Umpqua Community College, Women’s Indoor Track & Field
• KaLynn Irey – Stephens College, Women’s Basketball
• Sion James – Duke University, Men’s Basketball
• Emmanuela Katou-Kouami – University of the District of Columbia, Women’s Indoor Track & Field
• Colby Kern – Saint John’s University (Minn.), Men’s Swimming & Diving
• Sophia Kyrkostas – SUNY Oswego, Women’s Hockey
• Ishmael Leggett – University of Pittsburgh, Men’s Basketball
• Jahmai Mashak – University of Tennessee, Men’s Basketball
• Jojo Randby – University of Nebraska-Lincoln, Women’s Swimming & Diving
• Kiani Saxon – Missouri Western State University, Men’s Basketball
• Jacob Truscott – University of Michigan, Men’s Ice Hockey

The full list of 2024-25 Allstate NACDA Winter Good Works Team nominees is available here.

Nominations can be submitted for up to one female and one male student-athlete from each winter sport at an institution. Eligible schools and athletics programs must represent one of five intercollegiate athletics divisions: NCAA Division I, II, III, NAIA and Junior/Community Colleges. Nominees must have completed at least one year (two semesters) of college coursework at a two-year or four-year institution.

The final 20-member team

A distinguished Selection Committee will select 20 nominees – 10 female and 10 male student-athletes – to join the 2024-25 Allstate NACDA Good Works Team (Winter). The committee includes Rowe, ESPN analyst and former University of Texas and NFL linebacker Sam Acho, and other esteemed members:

• Elizabeth Brady– Chief marketing, customer and communications officer, Allstate
• Ross Bjork – Senior vice president and Wolfe Foundation-Eugene Smith Endowed athletics director, The Ohio State University; NACDA president
• Dan Guerrero – Retired director of athletics, UCLA; NACDA past president
• Brian Henderson – Athletics director/assistant vice president of student engagement and inclusion, Patrick & Henry Community College; NACDA Executive Committee, NATYCAA 1st vice president
• Reagan Rossi – Vice president of athletics, College of Idaho; NACDA Executive Committee, NAIA-ADA president
• Etienne Thomas – Director of athletics, Winston-Salem State University; NACDA Executive Committee, D2 ADA Board of Directors
• Natalie Winkelfoos – Associate vice president for athletics advancement and Delta Lodge director of athletics & physical education, Oberlin College; NACDA Executive Committee

A legacy of college sports

Announced in December, the Allstate NACDA Good Works Team builds on the legacy of the Allstate AFCA Good Works Team®, which has celebrated college football players’ good work off the field since 1992. Now, 60 more student-athletes across all sports and all divisions will be honored annually – three groups of 20 representing the fall, winter and spring collegiate athletics seasons.

“Athletes in sports that don’t always make the headlines demonstrate the same dedication to service and leadership as any other competitor,” said Elizabeth Brady, Allstate’s chief marketing, customer and communications officer. “The overwhelmingly positive response to our first-ever Allstate NACDA Good Works Team shows how much this spotlight and support matters. We’re honored to share the stories of these inspiring student-athletes.”

About Allstate

The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft. Products are available through a broad distribution network, including Allstate agents, independent agents and major retailers, online and at the workplace. Allstate is widely known for the slogan “You’re in Good Hands with Allstate.” For more information, visit allstate.com.

About NACDA

Now in its 60th year, NACDA is the professional and educational Association for more than 24,000 college athletics administrators at more than 2,300 institutions throughout the United States, Canada and Mexico. NACDA manages 19 professional associations and four foundations. In addition to virtual programming, NACDA hosts and/or has a presence at seven major professional development events in-person annually. The NACDA & Affiliates Convention is the largest gathering of collegiate athletics administrators in the country. For more information, visit www.nacda.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220705296/en/

Allstate Media Team

(847) 402-5600

[email protected]

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Professional Services Education Sports Other Sports Insurance University

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CRC Innovations and Ameresco Announce Over $200 Million Contract to Promote Energy Savings and Capital Improvements at Three Army Locations

5,000 military homes to benefit from infrastructure resiliency efforts

WARWICK, R.I. & FRAMINGHAM, Mass.–(BUSINESS WIRE)–CRC Innovations, an integrated energy and infrastructure solutions pioneer, and Ameresco, Inc., (NYSE: AMRC), a leading energy solutions provider dedicated to helping customers navigate the energy transition, today announced an over $200 million Energy Saving Performance Contract (ESPC) to provide capital improvements at U.S. Army military housing at Fort Bragg, N.C.; Fort Meade, Md.; and Fort Sill, Okla.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250220235738/en/

This multi-site project is expected to provide quality-of-life improvements for service members and their families, while also reducing annual electrical consumption by 40% and natural gas consumption by 50%. The initiatives will modernize living conditions and enhance energy efficiency across 5,000 homes, affecting more than 15,000 residents. The communities are owned and operated by Corvias, a long-standing solutions partner to the Department of Defense.

“CRC is honored to enable efficiency technologies that support service members and their families and provide a clear path to meeting the readiness and resiliency goals of the Army,” said Pablo Varela, CRC Innovations Executive Vice President. “We take pride in knowing that our efforts directly impact the well-being of service members and their families and contribute to military readiness.”

The high impact energy measures include replacing existing HVAC units with sustainable, renewable energy-sourced systems using ground source heat pumps manufactured in Oklahoma, as well as installing new electricity panels and new meters.

“This project will not only improve on-post living conditions, but also serve as a model for energy efficiency and resiliency in government facilities across the U.S.,” said Nicole Bulgarino, President of Federal Solutions and Utility Infrastructure at Ameresco. “By upgrading all heating and cooling equipment to high-efficiency geothermal systems, we are enhancing comfort and achieving significant energy savings for U.S. Army personnel consistent with infrastructure strength and security goals.”

The joint effort is expected to provide more than $12.4 million in annual utility and operational cost savings. Improvements for the sites are financed by the future savings generated by the implementation. Other ESPC benefits include improved heating and cooling, resiliency during extreme weather conditions, and reduced safety hazards.

For additional information CRC, visit https://www.crcinnovations.com/

For additional information on Ameresco and its energy performance contracting, visit www.ameresco.com/espc-energy-savings-performance-contract/

About CRC Innovations

CRC Innovations is focused on transforming mission critical energy infrastructure. We collaborate to strengthen community resilience through innovative solutions spanning energy efficiency, renewable generation, distribution, and storage. Our distinctive approach modernizes core infrastructure by unlocking alternative funding and reducing risk for military housing communities, the Department of Defense, and utility partners. By leveraging cutting-edge technology, we create future proof energy ecosystems that enhance mission capabilities and ensure security. Our commitment is to be a trusted resilience partner, delivering customized solutions that create enduring value and improve quality of life. For more information, visit www.crcinnovations.com.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading energy solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the global energy transition. Our comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. As a trusted full-service partner, Ameresco shows the way by reducing energy use and delivering diversified generation solutions to Federal, state and local governments, utilities, educational and healthcare institutions, housing authorities, and commercial and industrial customers. Headquartered in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of Ameresco’s overall revenue for any particular period or of trends in Ameresco’s overall total project backlog. This project was included in Ameresco’s previously reported contracted backlog as of September 30, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220235738/en/

Media

CRC Innovations: [email protected]

Ameresco: Leila Dillon, 508-661-2264, [email protected]

KEYWORDS: United States North America Rhode Island Massachusetts Maryland Oklahoma North Carolina

INDUSTRY KEYWORDS: Oil/Gas Building Systems Residential Building & Real Estate Contracts Commercial Building & Real Estate Alternative Energy Construction & Property Energy Sustainability Manufacturing Defense Environment Military Urban Planning Utilities HVAC

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Strengthening military homes through resilient infrastructure. (Photo: Business Wire)

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Charles River Associates (CRA) Reports Fourth-Quarter and Full-Year 2024 Financial Results

Broad-based Contributions Drive Record Revenue and Profitability in Fiscal 2024

Fourth Quarter Revenue Increases 9.2%Year Over Year

Board Expands Share Repurchase Authorization by $45 Million

BOSTON–(BUSINESS WIRE)–Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced financial results for the fourth quarter and fiscal year ended December 28, 2024.

“CRA achieved another record year, surpassing fiscal 2023’s revenue milestone,” said Paul Maleh, CRA’s President and Chief Executive Officer. “Strong top-line growth drove even greater increases in net income, earnings per diluted share, and EBITDA. For the fourth quarter, we continued to see strength across our portfolio of services. Revenue increased 9.2% compared with the fourth quarter of fiscal 2023 to $176.4 million. Three practices—Energy, Finance, and Intellectual Property—led the way, each generating double-digit revenue growth, while our Antitrust & Competition Economics, Labor & Employment, Risk, Investigations & Analytics and Life Sciences practices achieved year-over-year growth. Our North American and international operations both contributed to the quarter’s revenue growth, increasing 7.8% and 15.7%, respectively.”

Highlights for Fourth Quarter Fiscal 2024

• Revenue grew 9.2% year over year to $176.4 million.
• Utilization was 78% and quarter-end headcount decreased 5.8% year over year.
• Net income increased 30.8% year over year to $15.0 million, or 8.5% of revenue, compared with $11.5 million, or 7.1% of revenue, in the fourth quarter of fiscal 2023; non-GAAP net income increased 21.2% year over year to $14.0 million, or 7.9% of revenue, compared with $11.5 million, or 7.1% of revenue, in the fourth quarter of fiscal 2023.
• Earnings per diluted share increased 34.6% year over year to $2.18 from $1.62 in the fourth quarter of fiscal 2023; non-GAAP earnings per diluted share increased 24.5% year over year to $2.03 from $1.63 in the fourth quarter of fiscal 2023.
• Non-GAAP EBITDA increased 28.4% to $24.4 million, or 13.9% of revenue, compared with $19.0 million, or 11.8% of revenue, in the fourth quarter of fiscal 2023.
• On a constant currency basis relative to the fourth quarter of fiscal 2023, revenue, GAAP net income, and earnings per diluted share would have been lower by $0.6 million, $0.1 million, and $0.01 per diluted share, respectively. Non-GAAP net income and non-GAAP earnings per diluted share would have been lower by $0.1 million and $0.01 per diluted share, respectively. Non-GAAP EBITDA would have remained unchanged.
• CRA returned $3.4 million of capital to its shareholders via dividend payments.

Highlights for Full-Year Fiscal 2024

• Revenue grew 10.2% year over year to $687.4 million with company-wide utilization of 75%.
• GAAP net income increased 21.2% year over year to $46.7 million, or 6.8% of revenue, or $6.74 per diluted share, compared with $38.5 million, or 6.2% of revenue, or $5.39 per diluted share for the full year fiscal 2023. Non-GAAP net income increased 35.0% year over year to $52.6 million, or 7.7% of revenue, or $7.60 per diluted share, compared with $39.0 million, or 6.2% of revenue, or $5.46 per diluted share for the full year fiscal 2023.
• Non-GAAP EBITDA grew 32.4% to $90.4 million, or 13.2% of revenue, compared with $68.3 million, or 10.9% of revenue, in fiscal 2023.
• On a constant currency basis relative to fiscal 2023, revenue, GAAP net income, and earnings per diluted share would have been lower by $2.2 million, $0.4 million, and $0.05 per diluted share, respectively. Non-GAAP net income, non-GAAP earnings per diluted share, and non-GAAP EBITDA would have been lower by $0.3 million, $0.05 per diluted share, and $0.4 million, respectively.
• For fiscal 2024, CRA returned $45.6 million of capital to its shareholders, consisting of $12.3 million in dividend payments and $33.3 million in share repurchases of approximately 206,000 shares.

Management Commentary and Financial Guidance

“CRA reported revenue for fiscal 2024 of $687.4 million, or $685.2 million on a constant currency basis relative to fiscal 2023,” said Maleh. “Full-year, non-GAAP EBITDA was $90.4 million, or $90.0 million on a constant currency basis relative to fiscal 2023. Non-GAAP EBITDA margin was 13.1% on a constant currency basis. This performance exceeds the top end of our previously stated financial guidance for fiscal 2024.”

“Our fiscal 2024 financial performance demonstrates our continued strength in the marketplace. For full-year fiscal 2025, on a constant currency basis relative to fiscal 2024, we expect revenue in the range of $715 million to $735 million, and non-GAAP EBITDA margin in the range of 12.0% to 13.0%. While we are pleased with CRA’s strong performance in 2024, we remain mindful that uncertain global macroeconomic, business, and political conditions can affect our business.”

CRA does not provide reconciliations of its annual non-GAAP EBITDA margin guidance to GAAP net income margin because the Company is unable to estimate with reasonable certainty unusual gains or charges, foreign currency exchange rates, and the resulting effect of these items, and of equity awards, on CRA’s taxes without unreasonable effort. These items are uncertain, depend on various factors, and may have a material effect on CRA’s results computed in accordance with GAAP. A reconciliation between the historical GAAP and non-GAAP financial measures presented in this release is provided in the financial tables at the end of this release.

Share Repurchase Expansion and Quarterly Dividend

On February 20, 2025, CRA’s Board of Directors authorized a $45.0 million expansion of the Company’s existing share repurchase program, in addition to the $13.1 million currently remaining under the program. CRA may repurchase shares of its common stock in the open market or in privately negotiated transactions in accordance with applicable insider trading and other securities laws and regulations. The timing, amount and extent to which CRA repurchases shares will depend upon market conditions and other factors it may consider in its sole discretion.

The Board of Directors also authorized a quarterly cash dividend of $0.49 per common share, payable on March 14, 2025 to shareholders of record as of March 4, 2025. CRA expects to continue paying quarterly dividends, the declaration, timing and amounts of which remain subject to the discretion of CRA’s Board of Directors.

Conference Call Information and Prepared CFO Remarks

CRA will host a conference call today at 10:00 a.m. ET to discuss its fourth-quarter and fiscal-year 2024 financial results. To listen to the live call, please visit the “Investor Relations” section of CRA’s website at http://www.crai.com, or dial (877) 709-8155 or (201) 689-8881. An archived version of the webcast will be available on CRA’s website for one year.

In combination with this press release, CRA has posted prepared remarks by its CFO Dan Mahoney under “Quarterly Earnings” in the “Investor Relations” section on CRA’s website at http://www.crai.com. These remarks are offered to provide the investment community with additional background on CRA’s financial results prior to the start of the conference call.

About Charles River Associates (CRA)

Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Instagram, and Facebook.

NON-GAAP FINANCIAL MEASURES

In this release, CRA has supplemented the presentation of its financial results calculated in accordance with U.S. generally accepted accounting principles or “GAAP” with the following financial measures that are not calculated in accordance with GAAP: non‑GAAP net income, non‑GAAP earnings per diluted share and non‑GAAP EBITDA. CRA believes that the non-GAAP financial measures described in this press release are important to management and investors because these measures supplement the understanding of CRA’s ongoing operating results and financial condition. In addition, these non-GAAP measures are used by CRA in its budgeting process, and the non-GAAP adjustments are made to the performance measures for some of CRA’s performance-based compensation.

As used herein, CRA defines non-GAAP EBITDA as net income before interest expense (net), provision for income taxes, and depreciation and amortization further adjusted for the impact of certain items that we do not consider indicative of our core operating performance, such as non-cash amounts relating to valuation changes in contingent consideration, acquisition-related costs, foreign currency (gains) losses, net, restructuring costs and related tax effects. Non-GAAP net income and non-GAAP earnings per diluted share also exclude non-cash amounts relating to valuation changes in contingent consideration, acquisition-related costs, foreign currency (gains) losses, net, restructuring costs and related tax effects. This release also presents certain current fiscal period financial measures on a “constant currency” basis in order to isolate the effect that foreign currency exchange rate fluctuations can have on CRA’s financial results. These constant currency measures are determined by recalculating the current fiscal period local currency financial measure using the specified corresponding prior fiscal period’s foreign exchange rates.

All of the non-GAAP financial measures referred to above should be considered in conjunction with, and not as a substitute for, the GAAP financial information presented in this release. EBITDA and the financial measures identified in this release as “non-GAAP” are reconciled to their GAAP comparable measures in the financial tables appended to the end of this press release. In evaluating these non-GAAP financial measures, note that the non-GAAP financial measures used by CRA may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

SAFE HARBOR STATEMENT

Statements in this press release concerning our future business, operating results and financial condition, including those concerning guidance on future revenue and non-GAAP EBITDA margin, the impact of exchange rate fluctuations on our financial results, our expectations regarding continued growth, our expectations regarding the payment of any future quarterly dividends and the level and extent of any purchases under our expanded share repurchase program, and statements using the terms “outlook,” “expect,” or similar expressions, are “forward-looking” statements as defined in Section 21 of the Exchange Act. These statements are based upon our current expectations and various underlying assumptions. Although we believe there is a reasonable basis for these statements and assumptions, and these statements are expressed in good faith, these statements are subject to a number of additional factors and uncertainties. Our actual revenue and non-GAAP EBITDA margin in fiscal 2025 on a constant currency basis relative to fiscal 2024 could differ materially from the guidance presented herein, and our actual performance and results may differ materially from the performance and results contained in or implied by the forward-looking statements made herein, due to many important factors. These factors include, but are not limited to, the possibility that the demand for our services may decline as a result of changes in general and industry specific economic conditions; the timing of engagements for our services; the effects of competitive services and pricing; our ability to attract and retain key employee or non-employee experts; the inability to integrate and utilize existing consultants and personnel; the decline or reduction in project work or activity; global economic conditions including less stable political and economic environments; foreign currency exchange rate fluctuations; unanticipated expenses and liabilities; risks inherent in international operations; changes in tax law or accounting standards, rules, and regulations; our ability to collect on forgivable loans should any become due; and professional and other legal liability or settlements. Additional risks and uncertainties are discussed in our periodic filings with the Securities and Exchange Commission under the heading “Risk Factors.” The inclusion of such forward-looking information should not be regarded as our representation that the future events, plans, or expectations contemplated will be achieved. Except as may be required by law, we undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

	CRA INTERNATIONAL, INC.
	CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
	FOR THE FISCAL QUARTERS AND FISCAL YEAR-TO-DATE PERIODS ENDED
	DECEMBER 28, 2024 COMPARED TO DECEMBER 30, 2023
	(IN THOUSANDS, EXCEPT PER SHARE DATA)
	Fiscal Quarter Ended														Fiscal Year-to-Date Period Ended
	December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue			December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue
Revenues	$	176,435			100.0	%		$	161,613			100.0	%		$	687,414			100.0	%		$	623,976			100.0	%
Cost of services (exclusive of depreciation and amortization)		120,541			68.3	%			112,688			69.7	%			479,936			69.8	%			439,751			70.5	%
Selling, general and administrative expenses		31,266			17.7	%			28,979			17.9	%			125,050			18.2	%			115,116			18.4	%
Depreciation and amortization		3,174			1.8	%			2,801			1.7	%			11,677			1.7	%			11,564			1.9	%
Income from operations		21,454			12.2	%			17,145			10.6	%			70,751			10.3	%			57,545			9.2	%
Interest expense, net		(1,013	)		-0.6	%			(600	)		-0.4	%			(4,417	)		-0.6	%			(3,812	)		-0.6	%
Foreign currency gains (losses), net		1,145			0.6	%			(987	)		-0.6	%			(92	)		–	%			(1,445	)		-0.2	%
Income before provision for income taxes		21,586			12.2	%			15,558			9.6	%			66,242			9.6	%			52,288			8.4	%
Provision for income taxes		6,599			3.7	%			4,099			2.5	%			19,589			2.8	%			13,807			2.2	%
Net income	$	14,987			8.5	%		$	11,459			7.1	%		$	46,653			6.8	%		$	38,481			6.2	%
Net income per share:
Basic	$	2.21						$	1.65						$	6.82						$	5.48
Diluted	$	2.18						$	1.62						$	6.74						$	5.39
Weighted average number of shares outstanding:
Basic		6,763							6,954							6,821							7,008
Diluted		6,866							7,057							6,908							7,118

	CRA INTERNATIONAL, INC.
	RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
	FOR THE FISCAL QUARTERS AND FISCAL YEAR-TO-DATE PERIODS ENDED
	DECEMBER 28, 2024 COMPARED TO DECEMBER 30, 2023
	(IN THOUSANDS, EXCEPT PER SHARE DATA)
	Fiscal Quarter Ended														Fiscal Year-to-Date Period Ended
	December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue			December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue
Revenues	$	176,435			100.0	%		$	161,613			100.0	%		$	687,414			100.0	%		$	623,976			100.0	%
Net income	$	14,987			8.5	%		$	11,459			7.1	%		$	46,653			6.8	%		$	38,481			6.2	%
Adjustments needed to reconcile GAAP net income to non-GAAP net income:
Non-cash valuation change in contingent consideration		(190	)		-0.1	%			(918	)		-0.6	%			(190	)		–	%			(866	)		-0.1	%
Restructuring (1)		–			–	%			–			–	%			8,176			1.2	%			–			–	%
Acquisition-related costs		–			–	%			–			–	%			–			–	%			22			–	%
Foreign currency (gains) losses, net		(1,145	)		-0.6	%			987			0.6	%			92			–	%			1,445			0.2	%
Tax effect on adjustments		340			0.2	%			13			–	%			(2,126	)		-0.3	%			(125	)		–	%
Non-GAAP net income	$	13,992			7.9	%		$	11,541			7.1	%		$	52,605			7.7	%		$	38,957			6.2	%
Non-GAAP net income per share:
Basic	$	2.06						$	1.66						$	7.69						$	5.54
Diluted	$	2.03						$	1.63						$	7.60						$	5.46
Weighted average number of shares outstanding:
Basic		6,763							6,954							6,821							7,008
Diluted		6,866							7,057							6,908							7,118
(1) Includes cash severance of $2.5M and non-cash charges of $5.7M associated with portfolio optimization actions.

	CRA INTERNATIONAL, INC.
	RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
	FOR THE FISCAL QUARTERS AND FISCAL YEAR-TO-DATE PERIODS ENDED
	DECEMBER 28, 2024 COMPARED TO DECEMBER 30, 2023
	(IN THOUSANDS)
	Fiscal Quarter Ended														Fiscal Year-to-Date Period Ended
	December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue			December 28, 2024				As a % of Revenue			December 30, 2023				As a % of Revenue
Revenues	$	176,435			100.0	%		$	161,613			100.0	%		$	687,414			100.0	%		$	623,976			100.0	%
Net income	$	14,987			8.5	%		$	11,459			7.1	%		$	46,653			6.8	%		$	38,481			6.2	%
Adjustments needed to reconcile GAAP net income to non-GAAP net income:
Non-cash valuation change in contingent consideration		(190	)		-0.1	%			(918	)		-0.6	%			(190	)		–	%			(866	)		-0.1	%
Restructuring (1)		–			–	%			–			–	%			8,176			1.2	%			–			–	%
Acquisition-related costs		–			–	%			–			–	%			–			–	%			22			–	%
Foreign currency (gains) losses, net		(1,145	)		-0.6	%			987			0.6	%			92			–	%			1,445			0.2	%
Tax effect on adjustments		340			0.2	%			13			–	%			(2,126	)		-0.3	%			(125	)		–	%
Non-GAAP net income	$	13,992			7.9	%		$	11,541			7.1	%		$	52,605			7.7	%		$	38,957			6.2	%
Adjustments needed to reconcile non-GAAP net income to non-GAAP EBITDA:
Interest expense, net		1,013			0.6	%			600			0.4	%			4,417			0.6	%			3,812			0.6	%
Provision for income taxes		6,259			3.5	%			4,086			2.5	%			21,715			3.2	%			13,932			2.2	%
Depreciation and amortization		3,174			1.8	%			2,801			1.7	%			11,677			1.7	%			11,564			1.9	%
Non-GAAP EBITDA	$	24,438			13.9	%		$	19,028			11.8	%		$	90,414			13.2	%		$	68,265			10.9	%
(1) Includes cash severance of $2.5M and non-cash charges of $5.7M associated with portfolio optimization actions.

CRA INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS)
	December 28, 2024			December 30, 2023
Assets
Cash and cash equivalents	$	26,711		$	45,586
Accounts receivable and unbilled services, net		219,548			199,556
Other current assets		23,104			20,334
Total current assets		269,363			265,476
Property and equipment, net		45,205			38,176
Goodwill and intangible assets, net		100,953			101,185
Right-of-use assets		81,157			86,887
Other assets		74,761			61,487
Total assets	$	571,439		$	553,211
Liabilities and Shareholders’ Equity
Accounts payable	$	28,155		$	28,701
Accrued expenses		181,413			171,040
Current portion of lease liabilities		18,696			16,475
Other current liabilities		23,045			19,871
Total current liabilities		251,309			236,087
Non-current portion of lease liabilities		84,541			92,280
Other non-current liabilities		23,516			12,743
Total liabilities		359,366			341,110
Total shareholders’ equity		212,073			212,101
Total liabilities and shareholders’ equity	$	571,439		$	553,211

CRA INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)
	Year Ended
	December 28, 2024				December 30, 2023
Operating activities:
Net income	$	46,653			$	38,481
Adjustments to reconcile net income to net cash provided by operating activities, net of effect of acquired businesses:
Non-cash items, net		29,316				26,197
Accounts receivable and unbilled services		(22,197	)			(2,860	)
Working capital items, net		(4,037	)			(1,746	)
Net cash provided by operating activities		49,735				60,072
Investing activities:
Purchases of property and equipment		(16,623	)			(2,366	)
Consideration paid for acquisitions, net		(1,500	)			(577	)
Net cash used in investing activities		(18,123	)			(2,943	)
Financing activities:
Issuance of common stock, principally stock options exercises		–				805
Borrowings under revolving line of credit		102,000				105,000
Repayments under revolving line of credit		(102,000	)			(105,000	)
Tax withholding payments reimbursed by shares		(3,209	)			(3,063	)
Cash dividends paid		(12,300	)			(10,807	)
Repurchase of common stock		(33,348	)			(31,417	)
Net cash used in financing activities		(48,857	)			(44,482	)
Effect of foreign exchange rates on cash and cash equivalents		(1,630	)			1,492
Net increase (decrease) in cash and cash equivalents		(18,875	)			14,139
Cash and cash equivalents at beginning of period		45,586				31,447
Cash and cash equivalents at end of period	$	26,711			$	45,586
Noncash investing and financing activities:
Increase (decrease) in accounts payable and accrued expenses for property and equipment	$	598			$	(91	)
Excise tax on share repurchases	$	(270	)		$	(247	)
Asset retirement obligations	$	191			$	–
Right-of-use assets obtained in exchange for lease obligations	$	10,084			$	3,198
Supplemental cash flow information:
Cash paid for taxes	$	21,444			$	14,011
Cash paid for interest	$	4,145			$	3,539
Cash paid for amounts included in operating lease liabilities	$	20,963			$	22,272

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220132389/en/

Dan Mahoney

Chief Financial Officer

Charles River Associates

617-425-3505

Nicholas Manganaro

Sharon Merrill Advisors

[email protected]

617-542-5300

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Consulting Professional Services Finance

MEDIA:

Posted on February 20, 2025 8:11 am

Stellantis Unveils STLA AutoDrive, Hands-Free and Eyes-Off Autonomous Technology for a New Era of Driving Comfort

Stellantis Unveils STLA AutoDrive, Hands-Free and Eyes-Off Autonomous Technology for a New Era of Driving Comfort

• Stellantis-developed automated driving technology is ready for deployment.
• Hands-Free and Eyes-Off (SAE Level 3) functionality available up to 60 km/h (37 mph), even at night and in challenging weather conditions.
• STLA AutoDrive also enables Level 2 (hands on) and Level 2+ (hands off, eyes on) capabilities at higher speed, including Adaptive Cruise Control and lane centering functions.
• Designed to evolve, with potential for higher speed operation up to 95 km/h (59 mph) and off-road capabilities.

AMSTERDAM, February 20, 2025 — Stellantis N.V. today unveiled STLA AutoDrive 1.0, the Company’s first in-house-developed automated driving system, delivering Hands-Free and Eyes-Off (SAE Level 3) functionality. STLA AutoDrive is a key pillar of Stellantis’ technology strategy, alongside STLA Brain and STLA Smart Cockpit, advancing vehicle intelligence, automation and user experience.

STLA AutoDrive enables automated driving at speeds up to 60 km/h (37 mph), reducing driver workload in stop-and-go traffic and giving back valuable time.

Ideal for commuters in dense urban areas, STLA AutoDrive will allow drivers to temporarily engage in non-driving tasks such as watching a movie, catching up on emails, reading a book or simply looking out the window, reclaiming valuable time.

“Helping drivers make the best use of their time is a priority,” said Ned Curic, Stellantis Chief Engineering and Technology Officer. “By handling routine driving tasks, STLA AutoDrive will enhance the driving experience, making time behind the wheel more efficient and enjoyable.”

The system is designed for simplicity: when traffic and environmental conditions align, drivers are notified that STLA AutoDrive is available. Once activated by a physical button, the system takes control, maintaining safe distances, adjusting speed, and managing steering and braking seamlessly based on traffic flow.

STLA AutoDrive continuously monitors its surroundings through an advanced suite of sensors to ensure high-precision awareness and reliable operation, even at night or in challenging weather conditions such as light rain or road spray. To maintain consistent performance, an automated sensor-cleaning system keeps critical components clear for optimal reliability and functionality.

Stellantis engineers have refined STLA AutoDrive to react quickly and naturally, ensuring that the system feels smooth, predictable and human-like in real-world conditions. Whether maintaining safe following distances or adjusting to merging traffic, the system operates seamlessly to provide a confident, stress-free drive.

At higher speeds, STLA AutoDrive offers the convenience of Adaptive Cruise Control and lane centering functions in Level 2 (hands-on) and Level 2+ (hands-off, eyes-on) modes.

Built on a scalable architecture, STLA AutoDrive is ready for deployment and can be adapted for global markets across Stellantis branded vehicles, ensuring a smooth rollout as commercial strategies align with market demand. The system is also cloud-connected, enabling continuous enhancements through over-the-air updates and real-time data integration for optimized performance.

STLA AutoDrive complies with applicable regulations in supported markets and requires drivers to remain seated, belted and ready to assume control when prompted. It also respects regional laws on driver conduct, including phone use restrictions.

STLA AutoDrive is designed as an evolving platform, with ongoing research and future advancements potentially capable of unlocking:

•    Hands-Free and Eyes-Off operation at higher speeds, up to 95 km/h (59 mph).

•    Enhanced off-road automation for select models.

With its focus on safety, flexibility and long-term adaptability, STLA AutoDrive represents Stellantis’ next step toward more intelligent, comfortable and intuitive driving experiences.

# # #

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep

_®

, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit


www.stellantis.com

	@Stellantis		Stellantis		Stellantis		Stellantis
For more information, contact: Fernão SILVEIRA +31 6 43 25 43 41 – [email protected] Nathalie ROUSSEL +33 6 87 77 41 82 – [email protected] [email protected] www.stellantis.com

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