Crawford & Company · NYSE:CRD.A
Crawford & — Investor Presentation (October 2026)
40 slides from Crawford &'s investor presentation, October 2026
Slide 1: Investor Presentation
85 years of expertise. Built for what’s next. Investor Presentation Crawford & Company CRD-A & CRD-B (NYSE) Investor Presentation – October 2026
Slide 2: Forward-Looking Statements & Additional Information
Investor Presentation – October 2026 2 Forward-Looking Statements & Additional Information Forward-Looking Statements operate our business, but excludes unallocated corporate and shared costs and credits, net This presentation contains forward-looking statements, including statements about the corpo
Slide 3: Who we are
Investor Presentation – October 2026 3 Who we are Crawford is a leading global provider of claims management and outsourcing solutions to insurance companies and self‐insured entities. REVENUE BY MARKET* REVENUE BY REPORTING SEGMENT REVENUE BY GEOGRAPHY 57% ⎹ U.S. 13% ⎹ U.K. 60% ⎹ Carriers 23% ⎹ U.S
Slide 4: Global Reach – Trusted Partner
Investor Presentation – October 2026 4 Global Reach – Trusted Partner 10K+ EMPLOYEES 70+ COUNTRIES $20B+ CLAIMS ANUALLY MANAGED
Slide 5: Attractive Investment Profile
Investor Presentation – October 2026 5 Attractive Investment Profile Strong foundation with clear value-creation levers Global Product and Recurring Fee for Competitive Market Geographic Service Revenue Strong Cash Flow Position Diversification Model Generation Technology-Enabled Blue-Chip Global So
Slide 6: Our Strategy is to Take Profitable Market Share
Investor Presentation – October 2026 6 Our Strategy is to Take Profitable Market Share Overarching strategy is to gain profitable market share by delivering top quality, promptly – made possible by our unique combination of innovation and expertise ORGANIC Relentlessly QUALITY EXPERTISE DIGITAL leve
Slide 7: Multiple Organic Growth Drivers Benefitting Crawford
Investor Presentation – October 2026 7 Multiple Organic Growth Drivers Benefitting Crawford Industry and organizational dynamics creating tailwinds for sustained revenue growth Increasing Streamlined Industry- Natural Complex claim complexity of U.S. operating leading disasters environment risk fuel
Slide 8: Our Capital Allocation Strategy
Investor Presentation – October 2026 8 Our Capital Allocation Strategy Committed to industry-leading financial strength and employing a disciplined approach to capital allocation Investing in long-term Strong liquidity Returning capital growth to shareholders Leverage ratio of 1.45x EBITDA Quarterly
Slide 9: M&A Overview
Investor Presentation – October 2026 9 M&A Overview Our M&A is aligned to the three pillars of our strategy Quality 1 • Enhance the quality value proposition • Usually in tandem with Digital or Expertise Complement primary organic growth Increase customer stickiness and Expertise deepen market share
Slide 10: Bringing it all together to drive long-term growth and shareholder value
Investor Presentation – October 2026 10 • Long-term revenue growth with diversified revenue streams Bringing it all together • Multiple growth drivers to drive long-term • Consistent profitability with strong cash flow growth and shareholder value • Technology-driven operational efficiency • Returni
Slide 11: Operational Update
Investor Presentation – October 2026 11 11 Operational Update
Slide 12: New Operating Structure and 2Q26 Revenue Contribution
Investor Presentation – October 2026 12 New Operating Structure and 2Q26 Revenue Contribution Effective January 1, 2026 U.S. Operations U.S. Property Broadspire International & Casualty Operations 23% 34% 43% U.S. Loss Adjusting • Claims Management • UK • Global Technical Services (GTS) • Medical Ma
Slide 13: Three complementary operations. One growth strategy.
Investor Presentation – October 2026 13 Claims Expertise 1 Deep technical capabilities across volume, specialty and complex losses. Three complementary Scalable Solutions operations. 2 Flexible capabilities that expand capacity, accelerate response, and help clients manage surge demand. One growth s
Slide 14: U.S. Property & Casualty | U.S. Loss Adjusting
Investor Presentation – October 2026 14 U.S. Property & Casualty | U.S. Loss Adjusting Technical expertise at scale Volume Major & complex Leading claims capabilities across the full spectrum of claim complexity High volume, low severity Low volume, high severity e.g., Residential Roof Damage e.g.,
Slide 15: U.S. Property & Casualty | Networks
Investor Presentation – October 2026 15 U.S. Property & Casualty | Networks Scalable solutions Contractor Connection Catastrophe Services Extending capacity through managed repair and catastrophe response • Provides managed repair expertise through Managed Repair Surge Response Contractor Connection
Slide 16: Broadspire
Investor Presentation – October 2026 16 Broadspire Deepening client relationships through integrated solutions Delivering integrated claims and risk management solutions Trusted by 1,000+ organizations Including 100+ Fortune 500 companies, • Provides third-party administration, claims with nearly 90
Slide 17: International Operations
Investor Presentation – October 2026 17 International Operations Delivering global scale through local expertise Q2 2026 revenue by geographic region • Provides claims management services across major international Canada 7% insurance markets. Europe & Middle East 9% • Combines local market expertis
Slide 18: AI Integration Built for Measurable Outcomes
Investor Presentation – October 2026 18 AI Integration Built for Measurable Outcomes Outcome- Enhancing Developing Claims Data Governed Focused Adjuster Innovative AI Advantage and Secure AI Technology Efficiency Solutions Adoption Decades of Adoption proprietary claims Enterprise AI-enabled Crawfor
Slide 19: Financial Update
Investor Presentation – October 2026 19 Financial Update 2Q26 Results
Slide 20: Q2 2026 Highlights
Investor Presentation – October 2026 20 Q2 2026 Highlights • 2Q26 revenue of $321.4M remained relatively consistent YoY YoY Revenue $323.0 $321.4M • Consolidated operating earnings increased 33.9% YoY related to strong performance in Broadspire and International o Highest quarterly operating earning
Slide 21: U.S. Property & Casualty 2Q26 Results
Investor Presentation – October 2026 21 2Q26 Results • Revenue decreased 10.2% YoY U.S. Property o Severe convective storm activity in the quarter offset by softer performance in Networks & Casualty • Operating earnings decreased by $0.3M or 4.0% YoY with operating margin up by 70 bps, due to $74.1M
Slide 22: Broadspire 2Q26 Results
Investor Presentation – October 2026 22 2Q26 Results • YoY revenue increase of 1.2% reflects the addition of Broadspire new disability clients and improved medical management revenue o Retention rate improved sequentially to 87.5% $109.4 M $ 15.7M • Operating earnings increased by $1.5M, or 10.8% Yo
Slide 23: International Operations 2Q26 Results
Investor Presentation – October 2026 23 • Revenue increased by 4.2% YoY 2Q26 Results International • Excluding the exit from the Crawford Legal Services businesses and foreign exchange Operations impacts, revenue increased by 1.6% YoY • Operating earnings increased by $3.5M, or 48.2% $138.0M $ 10.9M
Slide 24: Weather Variability Can Impact Claims Activity
Investor Presentation – October 2026 24 Weather Variability Can Impact Claims Activity Q2 2026 weather-related revenue decreased slightly year-over-year, and included claims activity associated with U.S. severe convective storm activity and CAT-related international revenue U.S. Severe Storm Reports
Slide 25: Appendix
Investor Presentation – October 2026 25 Appendix First Quarter 2026 Financial Results and Non-GAAP Financial Information
Slide 26: Q2 2026 Financial Summary
Investor Presentation – October 2026 26 Q2 2026 Financial Summary Quarter Ended Unaudited ($ in millions, except per share amounts) June 30, 2026 June 30, 2025 Change Revenues $321.4 $323.0 (0)% Non-GAAP Revenues excluding foreign exchange fluctuations(1) $313.7 $323.0 (3)% Net Income Attributable t
Slide 27: Balance Sheet Highlights
Investor Presentation – October 2026 27 Balance Sheet Highlights Unaudited ($ in thousands) June 30, 2026 Dec 31, 2025 Change Cash and cash equivalents $ 69,419 $ 64,079 $ 5,340 Accounts receivable, net 119,063 115,661 3,402 Unbilled revenues, net 140,732 126,960 13,772 Total receivables 259,795 242
Slide 28: U.S. Property & Casualty
Investor Presentation – October 2026 28 U.S. Property & Casualty Three months ended Unaudited ($ in thousands) June 30, 2026 June 30, 2025 Variance Revenues $74,065 $82,500 (10.2)% Direct expenses 54,872 61,229 (10.4)% Gross profit 19,193 21,271 (9.8)% Indirect expenses 12,038 13,820 (12.9)% Operati
Slide 29: Broadspire
Investor Presentation – October 2026 29 Broadspire Three months ended Unaudited ($ in thousands) June 30, 2026 June 30, 2025 Variance Revenues $109,423 $108,158 1.2% Direct expenses 74,295 73,996 0.4% Gross profit 35,128 34,162 2.8% Indirect expenses 19,398 19,960 (2.8)% Operating earnings $15,730 $
Slide 30: International Operations
Investor Presentation – October 2026 30 International Operations Three months ended Unaudited ($ in thousands) June 30, 2026 June 30, 2025 Variance Revenues $137,951 $132,339 4.2% Direct expenses 107,040 105,364 1.6% Gross profit 30,911 26,975 14.6% Indirect expenses 20,049 19,644 2.1% Operating ear
Slide 31: Non-GAAP Financial Information
Investor Presentation – October 2026 31 Non-GAAP Financial Information Measurements of financial performance not calculated in accordance with GAAP should be considered as supplements to, and not substitutes for, performance measurements calculated or derived in accordance with GAAP. Any such measur
Slide 32: Non-GAAP Financial Information (cont.)
Investor Presentation – October 2026 32 Non-GAAP Financial Information (cont.) Segment and Consolidated Operating Earnings Operating earnings is the primary financial performance measure used by our senior management and chief operating decision maker to evaluate the financial performance of our Com
Slide 33: Total Revenue Before Reimbursements by Major Currency
Investor Presentation – October 2026 33 Total Revenue Before Reimbursements by Major Currency The following table illustrates revenue as a percentage of total revenue in the major currencies of the geographic areas in which Crawford does business: Three Months Ended Unaudited (in thousands) June 30,
Slide 34: Reconciliation of Non-GAAP Item
Investor Presentation – October 2026 34 Reconciliation of Non-GAAP Item Revenues and Costs of Services Provided Quarter Ended Quarter Ended Unaudited ($ in thousands) June 30, 2026 June 30, 2025 Revenues Before Reimbursements Total Revenues $ 330,024 $ 334,595 Reimbursements (8,585) (11,598) Revenue
Slide 35: Reconciliation of Non-GAAP Items (cont.)
Investor Presentation – October 2026 35 Reconciliation of Non-GAAP Items (cont.) Operating Earnings Quarter Ended Quarter Ended June 30, 2026 June 30, 2025 Unaudited ($ in thousands) U.S. Property & Casualty $ 7,155 $ 7,451 Broadspire 15,730 14,202 International Operations 10,862 7,331 Unallocated c
Slide 36: Reconciliation of Non-GAAP items (cont.)
Investor Presentation – October 2026 36 Reconciliation of Non-GAAP items (cont.) Adjusted EBITDA Quarter Ended Quarter Ended June 30, 2026 June 30, 2025 Unaudited ($ in thousands) Net Income Attributable to Shareholders of Crawford & Company $ 13,448 $ 7,782 Add: Depreciation and amortization 9,496
Slide 37: Non-GAAP Financial Information (cont.) Net Debt
Investor Presentation – October 2026 37 Non-GAAP Financial Information (cont.) Net Debt June 30, 2026 December 31, 2025 Unaudited ($ in thousands) Short-term borrowings $ 47,454 $ 38,454 Current installments of finance leases and other obligations 46 46 Long-term debt and finance leases, less curren
Slide 38: Non-GAAP Financial Information (cont.) Segment Gross Profit
Non-GAAP Financial Information (cont.) Investor Presentation – October 2026 38 Segment Gross Profit Three months ended Unaudited ($ in thousands) June 30, 2026 June 30, 2025 U.S. Property & Casualty $ 19,193 $ 21,271 Broadspire 35,128 34,162 International Operations 30,911 26,975 Segment gross profi
Slide 39: Reconciliation of Second Quarter Non-GAAP Results
Investor Presentation – October 2026 39 Reconciliation of Second Quarter Non-GAAP Results Three Months Ended June 30, 2026 Net Income Attributable to Crawford & Diluted Earnings per Diluted Earnings per Unaudited ($ in thousands) Pretax Earnings Company CRD-A Share(1) CRD-B Share GAAP $ 19,656 $ 13,
Slide 40: CRD-A & CRD-B (NYSE)
Investor Presentation – October 2026 40 CRD-A & CRD-B (NYSE)
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