Company did not provide specific guidance for future quarters or the full year.
Result drivers
International weather claims - Higher weather-related claims in Australia and Asia drove international segment revenue growth.
Broadspire disability & medical - Broadspire revenue rose on increased disability claims and medical management revenues, with operating earnings aided by reduced centralized indirect support expenses.
U.S. property & casualty decline - U.S. Property & Casualty segment revenue fell due to fewer weather-related claims, lower staff augmentation in Catastrophe Services, and decreased referrals in Contractor Connection.
Quarterly revenue and earnings
U.S. claims management firm's Q2 revenue dipped slightly year over year, driven by lower U.S. property claims.
Q2 non-GAAP adjusted EPS rose 73% year over year, reflecting strong international and Broadspire performance.
Company raised quarterly dividend to $0.08 per share and repurchased shares in Q2.
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the multiline insurance & brokers peer group is "buy."
Wall Street's median 12-month price target for Crawford & Co is $13.50, about 34.1% above its July 31 closing price of $10.07.
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago.
