Crawford & Company reported a decline in financial performance for the first quarter of 2026, with total revenues of $320.1 million, down from $323.3 million in the same period of 2025. The decrease of approximately 1% was attributed primarily to lower revenues in the U.S. Property & Casualty segment, which saw a significant drop in service lines such as Catastrophe Services and Claims Solutions. Net income attributable to shareholders also fell to $4.9 million, or $0.10 per share, compared to $6.7 million, or $0.14 per share, in the prior year. The company's effective tax rate increased to 32.6% from 26.9%, reflecting changes in income composition and taxation of foreign subsidiary profits.
In terms of operational metrics, Crawford reported a 16.9% decrease in cases received within the U.S. Property & Casualty segment, with total cases dropping to 81,101 from 97,624 year-over-year. Conversely, the Broadspire segment experienced an 8.7% increase in cases, driven by new disability clients, while the International Operations segment reported a 4.9% increase in cases, primarily due to high-frequency, low-severity claims in Europe and Australia. The company’s total customer count remained stable, with a slight increase in Broadspire cases offsetting declines in other segments.
Strategically, Crawford has realigned its reportable segments as of January 1, 2026, now comprising U.S. Property & Casualty, Broadspire, and International Operations. This restructuring aims to enhance operational efficiency and better align resources with market demands. The company also repurchased 527,869 shares during the quarter under its ongoing share repurchase program, which has a remaining authorization of 1,594,021 shares.
Looking ahead, Crawford's management expressed cautious optimism, noting that while the first quarter results were impacted by weather-related factors and macroeconomic conditions, they expect to see improvements as operational efficiencies are realized and market conditions stabilize. The company continues to focus on expanding its service offerings and enhancing client relationships to drive future growth. However, management acknowledged potential risks, including economic fluctuations and changes in client demand, which could affect performance in the upcoming quarters.
About CRAWFORD & CO
Crawford & Company is a global provider of claims management and outsourcing solutions for property and casualty insurance markets. Its services include claims adjusting, legal services, third-party administration, and contractor management across North America, Europe, Asia, and Latin America. The company leverages a broad network, technological platforms, and industry expertise to deliver high-quality, cost-effective risk and claims solutions to insurers, self-insured entities, and corporations worldwide.
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