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Crawford (CRD-A) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Crawford (CRD-A) Q3 2026 earnings results →
Q3 2026 Revenue down 1% year over year to $330M · 5¢ of every $1 of revenue kept as net profit · operating margin 7.3%
Crawford made $330M in Q3 2026 (-0.9% Y/Y): Service $322M, Reimbursements $8.3M. Operating margin 7.3%, net earnings $15.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $329.9M in Q3 2026, down 1% year over year and roughly flat from the previous quarter. Service was the largest line at 97% of revenue. Reimbursements lost $2.4M year over year (down 22%), 81% of the total change.
Operating profit was $24.1M, a 7.3% margin (up 1.1 points year over year). Total costs fell 2% while revenue fell 1%. Net earnings were $15.0M, up 21% year over year. The effective tax rate was 32.8%.
Operating cash flow was $5.8M (down 81% year over year), 39% of net earnings. Non-cash charges added back $9.4M of depreciation and amortization and $775K of share-based compensation. Working capital and other items used $19.3M. Capital expenditures of $857K left free cash flow of $5.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $330M | -0.9% | 7.3% | $15.0M | $5.8M |
| Q2 2026 | 10-Q | Aug 3, 2026 | $330M | -1% | 6.4% | $13.4M | $19.9M |
| Q1 2026 | 10-Q | May 4, 2026 | $320M | -1% | 2.9% | $4.9M | $3.3M |
| Q4 2025 | 10-K | Mar 2, 2026 | $320M | -11% | -1.3% | −$7.3M | $50.1M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $333M | -3% | 6.2% | $12.4M | $30.6M |
| Q2 2025 | 10-Q | Aug 4, 2025 | $335M | +2% | 4.8% | $7.8M | $35.0M |
| Q1 2025 | 10-Q | May 5, 2025 | $323M | +3% | 3.6% | $6.7M | −$13.9M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Crawford
Headquartered in Atlanta, Georgia, and founded in 1941, the Company is the world's largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations with an expansive global network serving clients in more than 70 countries. For the year ended December 31, 2025, the Company reported total revenues before reimbursements of $1.266 billion. Shares of the Company's two classes of common stock are traded on the New York Stock Exchange ("NYSE") under the symbols CRD-A and CRD-B. The Company's two classes of stock are substantially identical, except with respect to voting rights for the Class B Common Stock (CRD-B), and protections for the non-voting Class A Common Stock (CRD-A). More information is available on the Company's website www.crawco.com.
In its own words, from its 10-K, filed Mar 2, 2026.
Crawford against its Insurance Agents, Brokers & Service peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.9% against the peers' median +7%. Operating margin: 7.3% against the peers' median 17.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CRD-A Crawford | Q3 2026 | $330M | -0.9% | 7.3% |
| MRSH Marsh & McLennan Companies | Q3 2026 | $6.9B | +8% | 17.7% |
| AON Aon | Q3 2026 | $4.1B | +3% | 19.7% |
| AJG Arthur J. Gallagher | Q3 2026 | $4.0B | +18% | 13.0% |
| EQH Equitable Holdings | Q3 2026 | $3.9B | +168% | 35.8% |
| WTW Willis Towers Watson | Q3 2026 | $2.5B | +8% | 17.4% |
| BRO Brown & Brown | Q3 FY27 | $1.7B | +7% | 18.6% |
| ERIE Erie Indemnity | Q3 2026 | $1.1B | +0.3% | 19.4% |
| RYAN Ryan Specialty Holdings | Q3 2026 | $790M | +5% | 17.8% |
Source: Crawford 10-Q on SEC EDGAR · CIK 25475 · Insurance Agents, Brokers & Service
Guidance and outlook
13F: who owns CRD-A and who is buying
More on CRD-A
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results