CRA Posts Record Q2, Lifts Revenue Outlook, and Upsizes Credit Facility to $400M
CRAI sits 34% above its 52-week low of $132.17.
Summary
CRA International reported record Q2 2026 results, raised full-year revenue guidance, and expanded its credit facility to $400 million, reinforcing its growth trajectory.
Key Events · Earnings and Guidance · CRAI
-
Record Q2 Revenue and Profit
Revenue grew 12.8% YoY to $210.8M, with EPS up 17.3% to $2.10. Eight practices grew, six with double-digit gains, and international revenue surged 32.9%.
-
Raised Full-Year Revenue Guidance
Management lifted FY2026 revenue guidance to $805M–$820M (from $785M–$805M), a $15M midpoint increase, while reaffirming non-GAAP EBITDA margin of 12.0%–13.0%.
-
Credit Facility Expanded to $400M
The existing $300M revolver was replaced with a $400M facility ($75M term loan, $325M revolver), extending maturity to 2031 and adding $100M in capacity for growth and working capital.
-
Quarterly Dividend Maintained
Board declared a $0.57 per share quarterly dividend, payable September 14, 2026 to shareholders of record August 25, 2026.
Analysis · CRAI · Trade & Services
CRA delivered its best-ever second quarter, with revenue jumping 12.8% to $210.8 million and EPS surging 17.3% to $2.10. Management raised full-year revenue guidance by $15 million at the midpoint, signaling confidence in sustained demand. Simultaneously, the company upsized and extended its credit facility to $400 million, adding $100 million in borrowing capacity and pushing maturity to 2031. The combination of record profits, a guidance raise, and enhanced liquidity strengthens the investment thesis, though the recent insider selling pattern warrants monitoring.
At the time of this filing, CRAI was trading at $176.99 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $132.17 to $227.29. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.