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Dec 31, 2025
Crawford Q4 2025 Earnings Report
Crawford & Company reported a net loss for the fourth quarter of 2025, impacted by restructuring costs and a significant decline in weather-related claims activity compared to the prior year.
Key Takeaways
Crawford & Company faced a challenging fourth quarter with revenues decreasing 11% to $308.5 million, primarily due to a lack of severe storm activity in North America compared to the hurricane-impacted prior year. Despite a GAAP net loss of $7.2 million driven by $14.0 million in restructuring charges, the company achieved record annual revenues in its Broadspire and International segments and announced a new global operating structure to streamline execution in 2026.
Revenues before reimbursements fell 11% in Q4 due to lower weather-related activity in North America Loss Adjusting and Platform Solutions.
The company reported a Q4 net loss of $7.2 million, largely attributed to $14.0 million in pretax restructuring and other costs.
Broadspire achieved record annual revenues and saw Q4 operating margin expansion to 13.0%.
A new global operating structure (U.S. and International divisions) was announced effective January 1, 2026, to improve operational efficiency.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is transitioning to a new global operating structure in 2026 to drive unified execution and profitable growth.
Positive Outlook
- Implementation of a streamlined client-centric global operating structure.
- Focus on driving profitable market share growth in 2026.
- Strong balance sheet and excellent liquidity entering the new year.
- Record annual performance in Broadspire and International segments.
- Improved working capital efficiency leading to higher operating cash flow.
Challenges Ahead
- Challenging landscape for North America Loss Adjusting due to unpredictable weather patterns.
- Difficult year-over-year comparisons due to high 2024 hurricane activity.
- Lower case volumes impacting revenues in Europe and Latin America.
- Significant decrease in staff augmentation in the Networks service line.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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