CRA International announced that it will serve as the auction manager for FirstEnergy Corp.’s Ohio subsidiaries—Ohio Edison, The Illuminating Company, and Toledo Edison—through a descending‑price clock auction that will conclude on January 20, 2026. The auction will award a multi‑year engagement to provide full‑requirements services to the utilities’ Standard Service Offer customers, positioning CRAI to deliver comprehensive support across regulatory, economic, and operational domains.
The auction process includes an information session on November 24, an application opening on November 25, Part 1 applications due December 11, Part 2 applications due December 18, and the final award on January 20. The descending‑price clock format is designed to encourage competitive pricing while ensuring that the selected provider can meet the utilities’ complex service needs.
CRA International’s appointment follows its successful management of FirstEnergy’s PIPP RFP auction in March 2025 and leverages its strong Energy Practice, which has a track record of advising on market design, regulatory economics, and auction strategy. The role aligns with CRAI’s focus on high‑growth, high‑margin practice areas and expands its footprint in the regulated utilities sector.
The contract is expected to add significant billable hours and revenue for CRAI, reinforcing its reputation for delivering complex, high‑value consulting services to large infrastructure clients. The multi‑year engagement will also provide a stable, recurring revenue stream that complements CRAI’s recent earnings momentum.
In its most recent quarterly report, CRA International reported revenue of $185.9 million for Q3 2025, a 10.8% year‑over‑year increase driven by double‑digit growth in its Energy, Antitrust & Competition Economics, Finance, and Intellectual Property practices. Earnings per share rose to $2.06, beating analyst expectations of $1.80 by $0.26 (14.4%). The company’s non‑GAAP EBITDA margin stood at 13.1% and operating margin at 9.3%, slightly below the 11% operating margin reported a year earlier, reflecting modest cost pressures and strategic investments in high‑return verticals.
Analysts noted the earnings beat and the company’s decision to raise its full‑year 2025 revenue guidance to $740–$748 million, up from the prior $730–$738 million range. The guidance increase signals management’s confidence in continued demand for CRAI’s consulting services and the expected impact of the FirstEnergy contract on future revenue streams.
The auction management role, combined with CRAI’s strong recent financial performance and strategic focus on regulated utilities, positions the firm for continued growth and reinforces its market leadership in high‑margin consulting services.
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