Why doesn't the filing disclose a new buyback authorization?

This filing reports Q2 2026 execution results, not a new authorization. CRA is executing repurchases under an existing program that was authorized in a prior period. The filing acknowledges ongoing share repurchases in its Safe Harbor forward-looking statements but does not announce a new program authorization or disclose remaining authorization balance.

What was the share price context for the $144 average repurchase price?

The filing does not disclose the stock price range during Q2 2026 or provide context for whether the $144 average represents a discount or premium to market valuation. To assess execution value, one would need to compare this price to CRA's trading range during the July 4 quarter.

How much did share count decrease year-over-year?

CRA's diluted share count fell from 6.753 billion shares in Q2 2025 to 6.407 billion shares in Q2 2026, representing a reduction of approximately 346,000 shares across the first two quarters of fiscal 2026. This reduction reflects the combined effect of share repurchases and other share-count dynamics such as equity awards and tax withholding share impacts.

Does this buyback signal financial confidence or constraint?

The $27.8 million repurchase alongside a $3.6 million dividend in a quarter when CRA generated strong revenue growth (12.8% YoY) and record quarterly profits suggests capital-return confidence. However, the filing does not provide management commentary interpreting the buyback motivation; the company's Safe Harbor language frames buyback continuation as discretionary.

What is CRA's total capital-return policy?

In Q2 2026, CRA returned $31.4 million total via dividends and repurchases. The company announced a quarterly cash dividend of $0.57 per share. The filing states that dividend declaration and timing remain subject to board discretion, and similarly, future repurchases are discretionary under the existing program.

How does the $400M credit facility refinancing relate to the buyback program?

The expanded $400M credit facility (up from the prior facility) provides CRA with greater financial flexibility to support capital allocation. While the filing does not explicitly tie the refinancing to buyback authorization, improved liquidity can enable more consistent share-repurchase execution when market conditions and operational cash flow support such activity.

CRAI 8-K Filed 2026-08-06 Execution disclosure

CRA International repurchased 193K shares at $144 average in Q2 2026

Consulting firm returned $31.4M to shareholders in the quarter via dividends and buybacks

Shares repurchased193K

Avg price paid$144.00

MechanismNot specified

What the filing says

Charles River Associates (NASDAQ: CRAI) reported share repurchase activity in its second quarter fiscal 2026 earnings announcement. During the quarter ended July 4, 2026, CRA repurchased approximately 193,000 shares at an average price of $144 per share, spending $27.8 million on the buyback program. The repurchases were part of a broader capital-return program that also included $3.6 million in dividend payments, for total shareholder returns of $31.4 million in the quarter.

The filing does not disclose a new authorization amount or remaining authorization balance, nor does it specify the execution mechanism (Rule 10b-18, 10b5-1 plan, or other). The repurchase activity reflects CRA's execution under an existing program, though the company's Safe Harbor statement references "the level and extent of any purchases under our share repurchase program" as subject to future discretion.

CRA's weighted average diluted share count declined to 6.407 billion shares in Q2 2026 from 6.753 billion shares in Q2 2025, indicating a share-count reduction of approximately 346,000 shares year-over-year across the first two quarters of fiscal 2026. The company also refinanced and expanded its credit facility on August 6, 2026 to $400 million (consisting of a $75 million term loan and $325 million revolving facility), providing capacity to support ongoing capital allocation and operations.

CRA returned $31.4 million of capital to its shareholders, consisting of $3.6 million of dividend payments and $27.8 million for share repurchases of approximately 193,000 shares at an average price of $144 per share. — CRA INTERNATIONAL, INC. 8-K filing · View on SEC EDGAR →

What this means

CRA's Q2 2026 buyback represents ongoing execution of share-repurchase activity without a new authorization announcement. The $27.8 million spent on 193,000 shares illustrates the company's capital-allocation priority in a period of strong earnings growth (EPS up 17.3% year-over-year). Share count reduction of roughly 346,000 shares year-to-date contributes to per-share earnings accretion, offsetting the accretive effect of organic profit growth. The filing does not disclose remaining authorization capacity or program scope, limiting visibility into future buyback potential. CRA's expanded $400M credit facility provides financial flexibility for ongoing capital returns and operations.

Frequently asked questions

Why doesn't the filing disclose a new buyback authorization?: This filing reports Q2 2026 execution results, not a new authorization. CRA is executing repurchases under an existing program that was authorized in a prior period. The filing acknowledges ongoing share repurchases in its Safe Harbor forward-looking statements but does not announce a new program authorization or disclose remaining authorization balance.
What was the share price context for the $144 average repurchase price?: The filing does not disclose the stock price range during Q2 2026 or provide context for whether the $144 average represents a discount or premium to market valuation. To assess execution value, one would need to compare this price to CRA's trading range during the July 4 quarter.
How much did share count decrease year-over-year?: CRA's diluted share count fell from 6.753 billion shares in Q2 2025 to 6.407 billion shares in Q2 2026, representing a reduction of approximately 346,000 shares across the first two quarters of fiscal 2026. This reduction reflects the combined effect of share repurchases and other share-count dynamics such as equity awards and tax withholding share impacts.
Does this buyback signal financial confidence or constraint?: The $27.8 million repurchase alongside a $3.6 million dividend in a quarter when CRA generated strong revenue growth (12.8% YoY) and record quarterly profits suggests capital-return confidence. However, the filing does not provide management commentary interpreting the buyback motivation; the company's Safe Harbor language frames buyback continuation as discretionary.
What is CRA's total capital-return policy?: In Q2 2026, CRA returned $31.4 million total via dividends and repurchases. The company announced a quarterly cash dividend of $0.57 per share. The filing states that dividend declaration and timing remain subject to board discretion, and similarly, future repurchases are discretionary under the existing program.
How does the $400M credit facility refinancing relate to the buyback program?: The expanded $400M credit facility (up from the prior facility) provides CRA with greater financial flexibility to support capital allocation. While the filing does not explicitly tie the refinancing to buyback authorization, improved liquidity can enable more consistent share-repurchase execution when market conditions and operational cash flow support such activity.

execution mid-cap consulting-services rule-10b-18-or-discretionary capital-return earnings-accretion

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.