Loading...
•
Mar 31, 2024
Crawford Q1 2024 Earnings Report
Crawford & Company reported first quarter results, reflecting the absence of significant severe weather activity, with strong performance in non-weather driven businesses like Broadspire and International Operations.
Key Takeaways
Crawford & Company's first quarter results for 2024 showed a decrease in revenues and net income compared to the same period last year, primarily due to the absence of significant severe weather activity. Despite this, non-weather driven businesses such as Broadspire and International Operations delivered strong results. The company's balance sheet remains strong, positioning it to capitalize on future opportunities.
Revenues before reimbursements decreased by 5% to $301.7 million compared to Q1 2023.
Net income attributable to shareholders decreased to $2.8 million from $10.7 million in Q1 2023.
Broadspire achieved a new quarterly revenue record, increasing by 12.2% compared to Q1 2023.
International Operations revenues increased by 6.8% compared to the same period last year.
Revenue by Geographic Location
Forward Guidance
The strength of our underlying non-weather business provides a solid foundation to balance periodic revenue shifts directly related to the variability of catastrophic weather events. Importantly, our balance sheet remains strong, reflected in our ample liquidity and conservatively managed debt which position us to capitalize on opportunities as we move through 2024. With the strength of our relationships and our brand recognition as a valued partner in the market, we are well positioned to drive growth and long-term strategic success.
Positive Outlook
- Strength of non-weather business provides a solid foundation.
- Balance sheet remains strong.
- Ample liquidity.
- Conservatively managed debt.
- Well positioned to drive growth and long-term strategic success.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...