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Crawford & Company (CRD-A) investor relations material
Crawford & Company Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Consolidated revenue grew 2.8% year-over-year to $323.0M in Q2 2025, with growth in North America Loss Adjusting, International Operations, and Broadspire, while Platform Solutions declined.
Net income attributable to shareholders was $7.8M, down from $8.6M in Q2 2024; diluted EPS was $0.16 for both share classes, down from $0.17.
Operating earnings remained stable year-over-year and improved sequentially, with margin gains in International and Platform Solutions.
Dividend increased to $0.075 per share for both share classes, reflecting confidence in financial strength.
One-time $3.1M indirect tax expense and $1.3M foreign tax authority expense impacted SG&A and effective tax rate.
Financial highlights
Q2 2025 revenues before reimbursements: $323M, up 2.8% year-over-year; total revenues: $334.6M.
Adjusted EBITDA: $31.4M (margin 9.7%), up from $30.6M in Q2 2024.
Free cash flow improved to $2.6M from negative $26.7M year-over-year.
Cash and cash equivalents at June 30, 2025: $58.5M; total debt: $225.4M; net debt: $166.9M.
Operating cash flow for the first half: $21.1M, compared to $(8.3)M in 2024.
Outlook and guidance
Claims frequency in U.S. property expected to normalize as reinsurance pricing eases over 12–18 months.
Management expects effective tax rate for 2025 to be 30%–32% after discrete items.
Continued investment in operational excellence, technology, and talent to support growth.
Strong new business momentum in Broadspire and international operations expected to drive future growth.
No additional discretionary U.S. pension contributions expected for 2025.
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