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BOSTON - Charles River Associates (NASDAQ: CRAI), a global consulting firm with a market capitalization of $1.21 billion, announced today that its Chief Financial Officer, Daniel Mahoney, will leave his position for a new opportunity outside of the consulting sector on April 11, 2025. The company’s Chief Corporate Development Officer and former CFO, Chad Holmes, will assume the role of interim CFO during the search for a permanent replacement, assisted by a prominent executive search firm. According to InvestingPro data, CRAI maintains strong financial health with moderate debt levels and has consistently raised its dividend for 9 consecutive years.
CRA President and CEO Paul Maleh expressed gratitude to Mahoney for his financial leadership and contributions during his five-year tenure, highlighting the company’s strong market and financial position, including a seventh consecutive year of record annual revenue in 2024. The company’s revenue reached $687.41 million in the last twelve months, with a solid 10.17% growth rate. InvestingPro analysis reveals 6 additional key insights about CRAI’s performance and outlook.
Mahoney, reflecting on his time at CRA, praised the team’s achievements and committed to a smooth transition process. He credited CRA’s success to the quality and dedication of its consultants and their service to clients.
Holmes, who joined CRA in 2004, has been part of the senior management team since 2009 and became an Executive Vice President in 2014. He previously held the CFO and Treasurer roles from 2014 to 2020 before his current position as Chief Corporate Development Officer, which he has held since 2020.
Charles River Associates is a renowned consulting firm that has been providing economic, financial, and management consulting services since 1965. The firm advises on economic and financial issues related to litigation and regulatory proceedings and assists corporations with business strategy and performance challenges. With headquarters in Boston, CRA operates offices globally. Analysts maintain a positive outlook on the company, with price targets ranging from $224 to $247 per share. For detailed analysis and comprehensive insights, investors can access CRAI’s full Pro Research Report, available exclusively on InvestingPro. The information is based on a press release statement.
In other recent news, Charles River Associates (CRA) reported its fourth-quarter earnings for 2024, exceeding analyst expectations. The company’s earnings per share (EPS) reached $2.03, surpassing the forecasted $1.62, while revenue for the quarter was $176.4 million, above the anticipated $166.87 million. This marked the highest quarterly revenue in the company’s history, driven by a 9.2% year-over-year increase. CRA’s legal and regulatory services experienced a 12% growth, contributing significantly to these results. Looking ahead, CRA has provided an optimistic revenue guidance of $715-$735 million for fiscal year 2025. The firm continues to focus on enhancing its life sciences and management consulting practices. Additionally, CRA’s consulting headcount decreased by 5.8% to 946, with a firm-wide utilization rate of 78%. The company’s financial performance reflects strong operational execution and strategic positioning in key sectors.
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