Crawford & Company reported its financial results for the second quarter of 2025, revealing total revenues of $334.6 million, a 2.4% increase from $326.9 million in the same period of 2024. The company's net income attributable to shareholders was $7.8 million, or $0.16 per share, down from $8.6 million, or $0.17 per share, in the prior year. For the first half of 2025, total revenues reached $657.9 million, compared to $639.9 million in the first half of 2024, with net income attributable to shareholders increasing to $14.5 million from $11.4 million.
The company experienced notable growth in its North America Loss Adjusting and International Operations segments, which reported revenues of $78.1 million and $109.1 million, respectively, for the second quarter. The North America segment saw a 2.7% increase in revenues, while the International Operations segment grew by 6.6%. However, the Platform Solutions segment faced a decline, with revenues falling 9.2% to $35.2 million, attributed to reduced staff augmentation services and a transfer of low-value inspection services to the North America segment.
Crawford & Company also reported a decrease in total cases received, down 3.7% for the second quarter and 4.6% for the first half of 2025 compared to the previous year. The North America Loss Adjusting segment saw a significant increase in low-value inspection service cases, while the International Operations segment experienced declines in high-frequency, low-severity cases, particularly in the U.K. and Latin America. The Broadspire segment reported a slight increase in cases received, primarily due to new disability clients.
The company’s operational expenses increased, with selling, general, and administrative expenses rising by 8.4% in the second quarter, largely due to a one-time indirect tax expense of $3.1 million. The overall effective tax rate for the second quarter increased to 42.8%, influenced by this one-time expense and changes in valuation allowances. Looking ahead, Crawford & Company anticipates continued revenue growth driven by its core segments, although it remains cautious about market conditions and potential impacts from foreign currency fluctuations.
About CRAWFORD & CO
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