Crawford & Company Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Crawford & Company has filed its Q1 2024 10-Q report detailing financial performance and segment operations.</b>

AI Summary

CRAWFORD & CO (CRD-B) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Crawford & Company filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year. Key segments mentioned include Broadspire, International Operations, and Platform Solutions. Financial data points relate to various dates including March 31, 2024, December 31, 2023, and March 31, 2023. The company's principal business address is in Peachtree Corners, GA.

Why It Matters

For investors and stakeholders tracking CRAWFORD & CO, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results and operational updates for Crawford & Company. Understanding the performance of segments like Broadspire and International Operations is crucial for assessing the company's overall health and future prospects.

Risk Assessment

Risk Level: medium — CRAWFORD & CO shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant positive or negative events on its own, but the lack of specific financial performance data in the provided text limits a more precise risk assessment.

Analyst Insight

Review the detailed financial statements and segment performance within the full 10-Q filing to identify trends and potential investment opportunities or risks.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-01 — Filing Date (Filed As Of Date)
• Q1 — Quarter (Fiscal Quarter)
• 1231 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• CRAWFORD & CO (company) — FILER
• CRD-B (company) — Ticker Symbol
• 2024-05-01T00:00:00.000Z (date) — Filed As Of Date
• 2024-03-31 (date) — Conformed Period of Report
• 5335 TRIANGLE PARKWAY (address) — Business Address
• PEACHTREE CORNERS (city) — Business Address City
• GA (state) — Business Address State
• 30092 (zip_code) — Business Address Zip

FAQ

Industry Context

Crawford & Company operates in the insurance agents, brokers, and services industry (SIC 6411).

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the SEC under the 1934 Act for public companies.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and other key performance indicators.
2. Examine segment performance reports for Broadspire, International Operations, and Platform Solutions to understand growth drivers and challenges.
3. Review any disclosures regarding risks, legal proceedings, or changes in internal controls.

Year-Over-Year Comparison

This is the first 10-Q filing provided for analysis, so no comparison to a previous filing is possible.

Key Financial Figures

• $1.00 — ich registered Class A Common Stock — $1.00 Par Value CRD-A New York Stock Exch

Filing Documents

• crda-20240331.htm (10-Q) — 2108KB
• crda-ex15.htm (EX-15) — 5KB
• crda-ex31_1.htm (EX-31.1) — 14KB
• crda-ex31_2.htm (EX-31.2) — 15KB
• crda-ex32_1.htm (EX-32.1) — 8KB
• crda-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-051333.txt (&nbsp;) — 7695KB
• crda-20240331.xsd (EX-101.SCH) — 1052KB
• crda-20240331_htm.xml (XML) — 1269KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements: 3 Condensed Consolidated Statements of Operations (unaudited) for the three months ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets (unaudited) as of March 31, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Shareholders' Investment (unaudited) as of and for the three months ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Report of Independent Registered Public Accounting Firm 21 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

Other Information

Part II. Other Information Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 5. Other Information 38 Item 6. Exhibits 39

— Financ ial Information

Part I — Financ ial Information

Financ ial Statements

Item 1. Financ ial Statements CRAWFORD & COMPANY CONDENSED CONSOLIDATED S TATEMENTS OF OPERATIONS Unaudited Three Months Ended March 31, (In thousands, except per share amounts) 2024 2023 Revenues: Revenues before reimbursements $ 301,654 $ 316,334 Reimbursements 11,419 11,604 Total Revenues 313,073 327,938 Costs and Expenses: Costs of services provided, before reimbursements 214,389 227,078 Reimbursements 11,419 11,604 Total costs of services 225,808 238,682 Selling, general, and administrative expenses 77,320 66,711 Corporate interest expense, net of interest income of $ 901 and $ 276 , respectively 3,596 4,399 Total Costs and Expenses 306,724 309,792 Other Loss, net ( 2,523 ) ( 2,145 ) Income Before Income Taxes 3,826 16,001 Provision for Income Taxes 1,047 5,271 Net Income 2,779 10,730 Net Loss (Income) Attributable to Noncontrolling Interests 58 ( 49 ) Net Income Attributable to Shareholders of Crawford & Company $ 2,837 $ 10,681 Earnings Per Share - Basic: Class A Common Stock $ 0.06 $ 0.22 Class B Common Stock $ 0.06 $ 0.22 Earnings Per Share - Diluted: Class A Common Stock $ 0.06 $ 0.22 Class B Common Stock $ 0.06 $ 0.22 Weighted-Average Shares Used to Compute Basic Earnings Per Share: Class A Common Stock 29,586 28,841 Class B Common Stock 19,542 19,848 Weighted-Average Shares Used to Compute Diluted Earnings Per Share: Class A Common Stock 30,279 29,141 Class B Common Stock 19,542 19,848 (The accompanying notes are an integral part of these condensed consolidated financial statements) 3 CRAWFORD & COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Unaudited Three Months Ended March 31, (In thousands) 2024 2023 Net Income $ 2,779 $ 10,730 Other Comprehensive Income: Net foreign currency translation gain, net of tax of $

View Full Filing

View this 10-Q filing on SEC EDGAR