Crawford & Company reported softer results for the first quarter ended March 31, 2026. Revenues before reimbursements edged down (1)% to $309.5 million, while net income attributable to shareholders declined to $4.9 million, or $0.10 diluted EPS for both share classes, from $6.7 million or $0.13.
On a non-GAAP basis, adjusted EBITDA fell to $22.4 million from $26.8 million and non-GAAP diluted EPS decreased to $0.16 from $0.21. U.S. Property & Casualty revenue dropped 11.3% on lower weather-related claims, Broadspire revenue rose 1.0%, and International Operations revenue increased 4.5% with margin improvement.
Operating cash flow improved to $3.3 million from a use of $13.9 million a year earlier, and free cash flow was negative $4.6 million versus negative $23.2 million. The company repurchased 468,314 Class A and 59,555 Class B shares and modestly reduced cash while total debt increased slightly to $194.1 million.
Crawford & Co: Vanguard Capital Management reports 1,005,057 shares (5.29%) beneficially owned as of 03/31/2026. The filing lists 94,103 shares as sole voting power and 1,005,057 shares as sole dispositive power. Disclosures note ownership on behalf of Vanguard funds and affiliated investment divisions.
Crawford & Company is asking Class B shareholders to vote at its May 14, 2026 in‑person annual meeting on three items: electing nine directors, approving an amendment to the 2016 Omnibus Stock and Incentive Plan, and ratifying KPMG LLP as auditor.
The proxy outlines a majority‑independent board, with W. Bruce Swain Jr. serving as President and CEO and one inside director. 2025 pay programs follow a pay‑for‑performance approach, using revenue of $1,311.0 million, adjusted operating earnings of $93.3 million, a 7.1% adjusted operating margin, and adjusted EPS of $3.14 to fund annual and long‑term incentives.
Non‑employee directors receive a $75,000 annual cash retainer, $120,000 in restricted shares, and role‑based retainers such as $100,000 for the Board Chair. The filing also details human‑capital metrics for about 9,900 employees, including 58% women globally and multiple training and wellness initiatives.
Crawford & Co executive vice president Jemin M. Thakkar filed an initial Form 3 reporting his equity position. He holds 13,988 shares of Class A Common Stock directly and 0 shares of Class B Common Stock as of the reported date, with no buy or sell transactions disclosed.
Crawford & Company has realigned its management structure and updated its reportable segments to U.S. Property & Casualty, Broadspire, and International Operations. Historical results for 2024 and 2025 have been recast to this new structure.
Under the revised presentation, revenues before reimbursements for 2025 were $1,265,721 thousand with net income attributable to shareholders of $19,634 thousand, compared with 2024 revenues before reimbursements of $1,292,510 thousand and net income attributable to shareholders of $26,596 thousand. The company states these changes do not affect previously reported consolidated income statements, balance sheets, or cash flows.
Crawford & Co amendment shows The Vanguard Group reports beneficial ownership of 0 shares of Common Stock, representing 0%. The filing explains an internal realignment effective January 12, 2026 that led certain Vanguard subsidiaries to report holdings separately; Vanguard states it no longer is deemed to beneficially own securities held by those subsidiaries.
Crawford & Company has appointed W. Bruce Swain Jr., age 62, as its president and chief executive officer, effective immediately. Swain had been serving as interim president and CEO since January 1, 2026, and previously spent 19 years as executive vice president and chief financial officer after joining the company in 1991.
The filing notes there are no family relationships or related-party transactions involving Swain, and his compensation terms remain as previously disclosed when he became interim CEO. The company also announces that long-time director Jesse C. Crawford Sr. will not stand for reelection at the May 14, 2026 annual shareholder meeting and will instead become an honorary board member and emeritus officer in recognition of roughly four decades of service.
Crawford Jesse C JR reported acquisition or exercise transactions in this Form 4 filing.
CRAWFORD & CO director Jesse C. Crawford Jr. reported receiving a grant of 11,111 shares of Class A Common Stock on February 9, 2026 at a stated price of $0.00 per share, indicating a compensation-related award rather than a market purchase. Following this grant, he directly owns 1,817,870 Class A shares, so the award represents a small addition to his overall position. A footnote explains that his reported beneficial holdings had earlier been increased by a distribution of 298,685 shares in January 2025 from two trusts where he was the beneficiary, and this prior distribution is now reflected in the updated ownership total.
Crawford & Co director Jesse C. Crawford reported two restructuring transactions involving Class A Common Stock held through family trusts. On January 7, 2025, 288,840 shares held in a 2009 irrevocable trust were distributed to the trust’s beneficiary. On January 27, 2025, 9,845 shares in a trust for his son were also distributed to that beneficiary. Both transactions were coded as “other acquisition or disposition” and reflect trust-to-beneficiary distributions rather than open-market buys or sells.
Crawford & Company Executive Vice President Andrew John Bart reported stock-based compensation and related tax withholding in Class A Common Stock. He received a grant of 31,810 shares at no cost and had 11,213 shares withheld at $10.76 per share to cover tax obligations. After these transactions, he directly owns 151,395 Class A shares. This appears to be a routine compensation award combined with a tax-settlement transaction rather than an open-market trade.