Crawford & Company Reports Q3 2024 Financial Results

Crawford & Company A ( ($CRD.A) ) has released its Q3 earnings. Here is a breakdown of the information Crawford & Company A presented to its investors.

Crawford & Company is a leading provider of claims management and outsourcing solutions to insurance companies and self-insured entities, operating in more than 70 countries and offering a diverse range of services. In the third quarter of 2024, the company reported consistent revenues compared to the previous year, with significant achievements in its non-weather-dependent business lines, particularly Broadspire, which recorded its highest-ever quarterly revenue. The company faced challenges in North America due to low weather-related activities, but saw growth in its International Operations and Broadspire segments, driven by strong performances in the U.K., Europe, and increases in medical case management and casualty claims. Despite these positive areas, the company experienced a reduction in net income and adjusted EBITDA compared to the previous year, attributed to decreased storm-related activities and increased costs in certain segments. Looking ahead, Crawford & Company plans to focus on sustainable growth by expanding its customer base, forming strategic partnerships, and maintaining its operational excellence to navigate future challenges and opportunities.