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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.
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Q2 2025 earnings summary5 Aug, 2025

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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Frequently asked questions

Crawford & Company delivers claims management and outsourcing services to insurance companies, brokers, and self-insured entities. The company provides loss adjusting, third-party administration, and catastrophe response services for property, casualty, and workers’ compensation claims. The company is headquartered in Atlanta, Georgia, and its shares are listed on the NYSE.

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