CRAWFORD & (CRD-A) Company Report

Crawford & Company and its subsidiaries, as borrowers, executed a Third Amendment to their Credit Agreement (originally dated November 5, 2021) with Bank of America, N.A. serving as the Administrative Agent and a syndicate of other lenders.
The amendment sets financial covenants, requiring a Consolidated Total Leverage Ratio not to exceed 4.50 to 1.00 and a Consolidated Interest Coverage Ratio not to be less than 2.50:1.00 at the end of any fiscal quarter.
It also specifies limitations on various forms of indebtedness, such as purchase money indebtedness capped at $50,000,000 in aggregate principal amount, and certain intercompany investments limited to $100,000,000 per fiscal year.
Crawford & Company affirmed that there has been no Material Adverse Effect since December 31, 2020, and no ongoing Default or Event of Default.

Dec 8, 2025, 2:00 PM

Crawford & Company Reports Q3 2025 Financial Results

CRD-A

Earnings

Dividends

Share Buyback

Crawford & Company reported a 2% decrease in revenues before reimbursements to $322.2 million for the third quarter ended September 30, 2025, compared to the prior year quarter. However, net income attributable to shareholders increased 31% to $12.4 million, and diluted earnings per share for CRD-A and CRD-B increased 32% to $0.25.
Consolidated adjusted operating earnings for Q3 2025 increased 22% to $26.6 million, and consolidated adjusted EBITDA increased 23% to $36.3 million.
International Operations and Broadspire segments achieved record quarterly revenues in Q3 2025, with International Operations revenues at $112.9 million (up 6.7%) and Broadspire revenues at $103.4 million (up 4.4%).
The company's operations provided $51.7 million of cash during the first nine months of 2025, a substantial increase from $11.1 million in the 2024 period, and reported Free Cash Flow of $24.129 million for the same nine-month period.
In Q3 2025, Crawford & Company paid a quarterly dividend of $0.075 per share for both CRD-A and CRD-B, and repurchased 263,098 shares of CRD-A and 12,846 shares of CRD-B.

Nov 3, 2025, 9:23 PM

Crawford & Company Reports Third Quarter 2025 Results

CRD-A

Earnings

Demand Weakening

Crawford & Company reported revenues before reimbursements of $322.2 million in the third quarter of 2025, a (2)% decrease from $329.4 million in the prior year quarter.
Net income for the third quarter of 2025 was $12.4 million, or $0.25 per diluted share for CRD-A and CRD-B, marking a 31% increase compared to $9.5 million, or $0.19 per diluted share, in Q3 2024.
Non-GAAP diluted earnings per share for CRD-A and CRD-B increased by 45% to $0.32 in Q3 2025 from $0.22 in Q3 2024.
The company achieved a 22% increase in consolidated adjusted operating earnings for Q3 2025.
Broadspire and International Operations recorded record quarterly revenues in Q3 2025, with Broadspire revenues growing 4.4% to $103.4 million. However, overall revenue decreased slightly due to the absence of significant weather events and lower U.S. claims activity in North America Loss Adjusting and Platform Solutions.