CRD-ACrawford & Co.
Crawford & Co. (CRD-A) is an insurance brokerage firm that specializes in commercial insurance, offering risk management and underwriting services to businesses. The next catalyst is Nov 9, 2026 — Q3 2026 Earnings Release, which will test the company’s ability to deliver consistent earnings growth and provide clarity on its capital allocation strategy.
- Revenue fell 2.2% YoY to $1.32B in the second quarter of 2026, with net income of $38.54M and diluted EPS of $0.25.
- Free cash flow (TTM) reached $87.94M, reflecting strong cash generation despite revenue contraction.
- Debt-to-equity ratio of 1.09x suggests moderate leverage, with shareholders’ equity at $173.09M.
The Read
Crawford & Company’s stock showed muted reaction to a strong Q4 2025 EPS beat due to cautious FY 2026 revenue guidance, but surged about 13% after Q1 2026 earnings beat and reassuring capital allocation updates.
The schedule
- Thu1Oct
Review of operational performance post-hurricane season, with emphasis on claims management and recovery.
- Mon2Nov
This earnings report will test the company's ability to navigate the current interest rate environment, with a focus on its exposure to the Duration / rates channel. The outcome will be critical for assessing the impact of the Fed Funds Rate and the 10Y-2Y Treasury Spread on its NIM and refinancing costs.
- Sun14Feb
This report will test the company's ability to manage cost pass-through lags, particularly in light of input cost pressures. The outcome will be crucial for assessing the company's margin resilience and capital allocation strategy.
- Mon3May
This report will test the company's ability to reset guidance and provide forward-looking commentary on its mix and margin trends. The outcome will be crucial for assessing the company's long-term growth prospects.
- Mon2Aug
This report will test the company's ability to navigate the current macroeconomic environment, with a focus on its exposure to the Duration / rates channel and cost pass-through lags.
- Wed29Sep
This event will test the company's ability to communicate its long-term strategy and growth prospects to industry peers and investors. The outcome will be crucial for assessing the company's market positioning and investor confidence.
Past
- Mon3Aug
Actual outcome: Bull · $12.86 at outcome
Crawford & Company delivered a massive Q2 earnings beat, reporting EPS of $0.25 against estimates of $0.16, driven by stronger operating earnings and improved margins in its Broadspire and International Operations. Despite a slight dip in consolidated revenue, the market reacted highly favorably to the profitability improvements, a recent dividend increase, and strategic AI integrations, sending the stock well past the bull target.
This report is crucial as it sets the stage for the peak North American CAT season (Q3). Investors seek strong operational efficiency in Q2 and an optimistic but cautious outlook on the severity and preparedness for Hurricanes/Wildfires, which are the primary revenue drivers for claims adjusters.
- Mon4May
Actual outcome: Bull · $10.91 at outcome
Crawford & Company reported a 1% decrease in Q1 revenues to $309.5 million and mixed headline earnings, featuring GAAP net income of $0.10 per share alongside an adjusted EPS beat of $0.25 versus the $0.16 estimate. The strong bottom-line performance and management's capital allocation updates during the earnings call reassured investors, driving the stock up 7.2% to comfortably exceed the $10.80 bull target.
With the stock potentially de-rated post-Q4, focus shifts to management's response. An announcement of a modest share buyback program or accretive bolt-on M&A to enhance EPS will be bullish. A lack of action or a dilutive equity raise (given the existing debt load) would be bearish.
- Mon2Mar
Actual outcome: Mixed · $10.75 at outcome
Crawford & Company delivered a strong Q4 earnings beat, reporting EPS of $0.25 versus the $0.16 estimate. However, the stock reaction was muted, falling just 1.7% by the outcome date, as the impressive bottom-line results were offset by market caution regarding the company's FY 2026 revenue guidance and high relative valuation. This resulted in a mixed, relatively flat price action as investors weighed the strong profitability against ongoing top-line concerns.
The market will react to the full-year 2025 margin improvement and the crucial 2026 revenue and profitability guidance. Given the weak revenue trend and high relative P/E, a weak outlook could trigger a sharp de-rating toward peer/DCF valuations. Strong guidance is required to hold the current multiple.