The following is a summary of the Crawford & Company (CRD.B) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Crawford reported a consolidated revenue of $301.7 million in Q1 2024, and operating earnings of $12.1 million.

• GAAP net income attributable to shareholders totaled $2.8 million.

• They returned capital to shareholders with a quarterly dividend of $0.07 for stocks CRD-A and CRD-B.

• The company's selling, general, and administrative expenses increased to $10.6 million, caused by professional fees, IT costs, bad debt expense, and compensation expense.

• The company had a gross debt of $230.2 million by the end of Q1.

Business Progress:

• The company reported strong performance in their non-weather-related business, while their weather-dependent business, affected by reduced catastrophic weather activity, was down for the quarter. The overall condition shows the strength of their diversified business model.

• Crawford & Company expanded their customer base and deepened customer relations by adding a total of $24 million in new business this quarter.

• Their international operations revenue grew by 7% to $98.1 million in Q1, reflecting growth in the UK, Europe, and Latin America.

• They are making strategic investments in their proprietary innovative technologies, revealing opportunities for growth and increased market share.

• The company experienced a quarter-over-quarter revenue increase of 12%.

• Crawford & Company are looking into potential acquisitions that could establish a strong position in a new domain, focusing on those that provide capabilities in existing geographies, and offer scale opportunities in new geographies.

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