Crawford & Company (Crawford) has reported a surge in third-quarter earnings, with its net income attributable to shareholders rising 31% in the three months ending September 30, 2025. The global claims management firm posted net income of US$12.4 million, or US$0.25 per diluted share, compared to US$9.5 million, or US$0.19 per diluted share, in the prior year’s quarter.
The positive earnings performance was delivered despite a marginal decrease in overall revenue, the company noted. Revenues before reimbursements for the quarter fell by 2% to US$322.2 million, down from US$329.4 million in the third quarter of 2024. However, consolidated adjusted operating earnings grew by 22% to US$26.6 million, highlighting improvements in operational efficiency.
The company’s president and chief executive officer, Rohit Verma, attributed the slight drop in consolidated revenue to external factors, telling investors the results were achieved in “the continued absence of significant weather events and lower US claims activity in North America loss adjusting and platform solutions”.
“We are pleased with the expanded client relationships and new business momentum we saw in the third quarter,” Verma said.
Two key business units posted record quarterly revenues. Both the Broadspire and International Operations segments delivered strong performance, with Verma acknowledging that they “performed particularly well”.
The Broadspire segment achieved a new quarterly revenue record of US$103.4 million, a 4.4% rise from US$99.0 million, driven by increases in medical case management and casualty claims revenues. Operating earnings grew to US$15.6 million, representing a 15.1% margin, up from US$14.4 million (14.5% margin) in 2024. This margin expansion was attributed to revenue growth and a decrease in administrative costs.
Meanwhile, International Operations posted record quarterly revenues of US$112.9 million, an increase of 6.7% from US$105.7 million in the prior year. The growth was fuelled by strong activity across the UK, Europe, and Asia. The segment benefited from a US$3.6 million favourable foreign exchange rate, with constant dollar revenues totalling US$109.3 million.
The North America Loss Adjusting segment managed to increase its operating earnings to US$6.9 million from US$5.4 million in the comparable period last year, driving its operating margin up to 9.0%. The company noted that this improved margin was due to efficiencies achieved in US Global Technical Services and in Canada.
The management team remains focused on strategic growth. Verma stated that the firm’s aim is to strengthen its position as the “partner of choice for insurance providers worldwide.” He reaffirmed the company’s commitment to “delivering operational excellence and deepening engagement with existing clients,” while leveraging a strong balance sheet and a growing pipeline to extend its global reach.
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