Crawford & Co. Files Q3 2024 10-Q
Ticker: CRD-B · Form: 10-Q · Filed: Nov 4, 2024 · CIK: 25475
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Crawford & Co. Q3 10-Q is in: financials for North America Loss Adjusting & International Ops detailed.
AI Summary
Crawford & Company filed its 10-Q for the period ending September 30, 2024. The filing details financial performance across its operating segments, including North America Loss Adjusting and International Operations. Specific segment performance and financial metrics for the third quarter and year-to-date periods are presented.
Why It Matters
This filing provides investors with the latest financial performance data for Crawford & Company, crucial for understanding the company's operational health and strategic direction.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20241104 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Crawford & Co. (company) — Filer of the 10-Q
- North America Loss Adjusting (company) — Operating segment
- International Operations (company) — Operating segment
- Broadspire (company) — Operating segment
- Contractor Connection (company) — Operating segment
- Platform Solutions (company) — Operating segment
FAQ
What were the key financial highlights for Crawford & Company in the third quarter of 2024?
The 10-Q filing for the period ending September 30, 2024, provides detailed financial performance for the third quarter and year-to-date periods across its operating segments.
Which operating segments are detailed in this 10-Q filing?
The filing details performance for segments including North America Loss Adjusting, International Operations, Broadspire, Contractor Connection, and Platform Solutions.
What is the fiscal year-end for Crawford & Company?
Crawford & Company's fiscal year ends on December 31.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on November 4, 2024.
What is the primary business classification for Crawford & Company?
Crawford & Company is classified under 'INSURANCE AGENTS BROKERS & SERVICES' with the SIC code 6411.
Filing Stats: 4,417 words · 18 min read · ~15 pages · Grade level 19.2 · Accepted 2024-11-04 16:39:15
Key Financial Figures
- $1.00 — ich registered Class A Common Stock — $1.00 Par Value CRD-A New York Stock Exch
Filing Documents
- crda-20240930.htm (10-Q) — 3617KB
- crda-ex15.htm (EX-15) — 5KB
- crda-ex31_1.htm (EX-31.1) — 15KB
- crda-ex31_2.htm (EX-31.2) — 15KB
- crda-ex32_1.htm (EX-32.1) — 9KB
- crda-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-120774.txt ( ) — 11058KB
- crda-20240930.xsd (EX-101.SCH) — 1054KB
- crda-20240930_htm.xml (XML) — 2234KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements
Financial Statements: 3 Condensed Consolidated Statements of Operations (unaudited) for the three months ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Operations (unaudited) for the nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Balance Sheets (unaudited) as of September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Shareholders' Investment (unaudited) as of and for the three months ended March 31, June 30, and September 30 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements (unaudited) 11 Report of Independent Registered Public Accounting Firm 24 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 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 45 Item 4.
Controls and Procedures
Controls and Procedures 45
Other Information
Part II. Other Information Item 1A.
Risk Factors
Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 5. Other Information 46 Item 6. Exhibits 47
— 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 September 30, (In thousands, except per share amounts) 2024 2023 Revenues: Revenues before reimbursements $ 329,375 $ 330,121 Reimbursements 13,351 12,066 Total Revenues 342,726 342,187 Costs and Expenses: Costs of services provided, before reimbursements 235,957 229,969 Reimbursements 13,351 12,066 Total costs of services 249,308 242,035 Selling, general, and administrative expenses 71,526 74,447 Corporate interest expense, net of interest income of $ 830 and $ 734 , respectively 4,682 4,556 Total Costs and Expenses 325,516 321,038 Other Loss, net ( 2,490 ) ( 2,194 ) Income Before Income Taxes 14,720 18,955 Provision for Income Taxes 5,333 6,781 Net Income 9,387 12,174 Net Loss Attributable to Noncontrolling Interests 66 145 Net Income Attributable to Shareholders of Crawford & Company $ 9,453 $ 12,319 Earnings Per Share - Basic: Class A Common Stock $ 0.19 $ 0.25 Class B Common Stock $ 0.19 $ 0.25 Earnings Per Share - Diluted: Class A Common Stock $ 0.19 $ 0.25 Class B Common Stock $ 0.19 $ 0.25 Weighted-Average Shares Used to Compute Basic Earnings Per Share: Class A Common Stock 29,880 29,140 Class B Common Stock 19,255 19,837 Weighted-Average Shares Used to Compute Diluted Earnings Per Share: Class A Common Stock 30,472 30,063 Class B Common Stock 19,255 19,837 (The accompanying notes are an integral part of these condensed consolidated financial statements) 3 CRAWFORD & COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Nine Months Ended September 30, (In thousands, except per share amounts) 2024 2023 Revenues: Revenues before reimbursements $ 945,256 $ 971,011 Reimbursements 37,396 36,743 Total Rev