Crawford & Co
NYSE:CRD.B
Crawford & Co
Crawford & Co. engages in the provision of claims management and outsourcing solutions to carriers, brokers, and corporates. The company is headquartered in Atlanta, Georgia and currently employs 9,400 full-time employees. The firm operates through three segments: Crawford Loss Adjusting, Crawford TPA Solutions and Crawford Platform Solutions. The Crawford Loss Adjusting segment is engaged in the services the global property and casualty market that provides claims management services globally to insurance carriers and self-insured entities related to property and casualty losses. The Crawford TPA Solutions segment trades in North America that provides third-party administration for workers' compensation, auto and liability, disability absence management, medical management, and accident and health to corporations, brokers and insurers worldwide. The Crawford Platform Solutions segment consists of the contractor connection and networks service lines and serves the global property and casualty insurance company markets.
Crawford & Co. engages in the provision of claims management and outsourcing solutions to carriers, brokers, and corporates. The company is headquartered in Atlanta, Georgia and currently employs 9,400 full-time employees. The firm operates through three segments: Crawford Loss Adjusting, Crawford TPA Solutions and Crawford Platform Solutions. The Crawford Loss Adjusting segment is engaged in the services the global property and casualty market that provides claims management services globally to insurance carriers and self-insured entities related to property and casualty losses. The Crawford TPA Solutions segment trades in North America that provides third-party administration for workers' compensation, auto and liability, disability absence management, medical management, and accident and health to corporations, brokers and insurers worldwide. The Crawford Platform Solutions segment consists of the contractor connection and networks service lines and serves the global property and casualty insurance company markets.
Revenue Growth: Revenue grew 9% year-over-year to $320.7 million, or 12% in constant currency, marking the 11th straight quarter of revenue growth.
Profitability: Operating earnings nearly doubled year-over-year, with company-wide margins improving across all segments.
EPS Improvement: Diluted EPS rose to $0.17 from $0.12 the previous year, a 45% increase.
Segment Outperformance: Platform Solutions delivered the highest growth at 22%, and International Operations swung from a loss to a $3.7 million profit.
Cash Flow Recovery: Operating cash flow improved to $27.2 million for the first six months, reversing last year's negative cash flow.
Dividend Increase: The quarterly dividend was raised to $0.07 per share.
Strong Balance Sheet: Leverage ratio decreased to 1.8x EBITDA, ahead of plan, and share buybacks have been reinstated.
