Crocs (CROX) came out with quarterly earnings of $3.02 per share, beating the Zacks Consensus Estimate of $2.25 per share. This compares to earnings of $2.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 34.22%. A quarter ago, it was expected that this footwear company would post earnings of $2.38 per share when it actually produced earnings of $2.58, delivering a surprise of 8.40%.Over the last four quarters, the company ha ...

Crocs Brand Performance - Crocs Brand revenues increased 14.6% to $744 million, or 15.6% on a constant currency basis[1] - DTC revenues for Crocs Brand increased 18.3% to $282 million, or 19.0% on a constant currency basis[1] - Wholesale revenues for Crocs Brand increased 12.5% to $462 million, or 13.8% on a constant currency basis[1] - International revenues for Crocs Brand increased 21.3% to $361 million, or 23.6% on a constant currency basis[1] - Direct-to-consumer comparable sales for the Crocs Brand grew 14.7% in Q1 2024 on a constant currency basis[80] - Crocs Brand GAAP gross margin was 58.1% in Q1 2024, up from 55.8% in Q1 2023[84] - Non-GAAP Crocs Brand gross margin reached 56.3% in Q1 2023, up from 55.8% on a GAAP basis[84] - Crocs Brand projected to grow 7% to 9% in Q2 2023, while HEYDUDE Brand expected to contract by 19% to 17%[44] HEYDUDE Brand Performance - HEYDUDE Brand revenues decreased 17.2% to $195 million[37] - The company expects to incur approximately $28 million in costs for HEYDUDE integration and distribution center transition in 2024[78] - Asset impairment costs in Q1 2024 amounted to $24.081 million, primarily related to the transition to the new HEYDUDE distribution center[51][59] Consolidated Financial Performance - Consolidated revenues increased 6.2% to $939 million, or 6.9% on a constant currency basis[27] - Revenues for Q1 2024 increased to $938.633 million, up from $884.166 million in Q1 2023[49] - GAAP revenues for Q1 2024 were $938.6 million, compared to $884.2 million in Q1 2023[62] - GAAP revenues for Q1 2024 were $938.633 million, compared to $884.166 million in Q1 2023[86] - Net income for Q1 2024 rose to $152.454 million, compared to $149.543 million in Q1 2023[49] - Total assets increased to $4.795 billion in Q1 2024 from $4.643 billion in Q1 2023[50] - Total current liabilities decreased to $628.561 million in Q1 2024 from $698.296 million in Q1 2023[50] - Cash, cash equivalents, and restricted cash increased to $163.022 million at the end of Q1 2024 from $128.929 million at the end of Q1 2023[51] - Cash flows from operating activities showed a net use of $27.574 million in Q1 2024, compared to a net provision of $9.931 million in Q1 2023[51] Earnings and Margins - Adjusted diluted earnings per share increased 15.7% to $3.02[27] - Adjusted operating margin for Q2 2024 expected to be approximately 26.5%[9] - Adjusted operating margin estimated at approximately 25%[45] - GAAP operating margin decreased to 24.1% in Q1 2024 from 26.6% in Q1 2023[62] - Non-GAAP operating margin was 27.1% in Q1 2024, down from 27.9% in Q1 2023[62] - GAAP gross margin improved to 55.6% in Q1 2024 from 53.9% in Q1 2023[84] - Non-GAAP gross margin increased to 56.0% in Q1 2024 from 54.2% in Q1 2023[84] - Non-GAAP income from operations for Q1 2024 was $254.8 million, up from $247.0 million in Q1 2023[62] Expenses - GAAP selling, general and administrative expenses for Q1 2024 were $295.648 million, up from $241.442 million in Q1 2023[86] - Non-GAAP selling, general and administrative expenses for Q1 2024 were $270.543 million, compared to $232.610 million in Q1 2023[86] - GAAP selling, general and administrative expenses as a percent of revenues increased to 31.5% in Q1 2024 from 27.3% in Q1 2023[86] - Non-GAAP selling, general and administrative expenses as a percent of revenues rose to 28.8% in Q1 2024 from 26.3% in Q1 2023[86] - Total adjustments to GAAP selling, general and administrative expenses were $25.105 million in Q1 2024, compared to $8.832 million in Q1 2023[86] Future Outlook - Full-year 2024 revenue growth expected to be 3% to 5% compared to 2023[10] - Capital expenditures for 2024 expected to be approximately $120 million to $130 million[39] Non-GAAP Measures - Non-GAAP measures are used to provide a clearer view of underlying business trends by excluding certain non-routine costs[53][54]

Crocs, Inc. (CROX) is scheduled to release first-quarter 2024 results on May 7, before market open. This leading branded footwear company is expected to have witnessed year-over-year declines in revenues and earnings in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $882.6 million, suggesting a decline of 0.2% from the prior-year reported figure.The consensus estimate for first-quarter earnings per share has moved down by a penny in the past seven days to $2.22. The conse ...

Wall Street analysts forecast that Crocs (CROX) will report quarterly earnings of $2.22 per share in its upcoming release, pointing to a year-over-year decline of 14.9%. It is anticipated that revenues will amount to $882.6 million, exhibiting a decline of 0.2% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 1.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ...

Crocs (CROX) closed at $127.69 in the latest trading session, marking a +1.83% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. At the same time, the Dow added 0.38%, and the tech-heavy Nasdaq gained 0.35%.Prior to today's trading, shares of the footwear company had lost 12.8% over the past month. This has lagged the Consumer Discretionary sector's loss of 6.24% and the S&P 500's loss of 2% in that time.Analysts and investors alike will be keeping a close ...

Crocs (CROX) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this footwear company have returned -9.7%, compared to the Zacks S&P 500 composite's -3% change. During this period, the Zacks Textile - Apparel industry, which Crocs falls in, has lost 8.5%. The key question now is: What could be the stock's future direction?Although media reports or rum ...

In the latest trading session, Crocs (CROX) closed at $126.43, marking a +1.13% move from the previous day. This move lagged the S&P 500's daily gain of 1.2%. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.59%.Shares of the footwear company witnessed a loss of 11.24% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 6.73% and the S&P 500's loss of 4.16%.The upcoming earnings release of Crocs will be of great interest to investors. T ...

A headwind could become a tailwind if things go right.Just months ago, shoppers were camping out all night in front of Target to be the first to get their hands on limited edition Stanley Tumblers. However, a few years ago, Stanley -- founded in 1913 -- was just a stodgy brand from years gone by. But in 2020, the company brought in Terence Reilly as president, and it hasn't been the same since.Stanley reportedly went from about $70 million in sales in 2019 to $750 million in 2023, riding the coattails of it ...

BROOMFIELD, Colo., April 16, 2024 /PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear for all, today announced the appointment of Terence Reilly as incoming Executive Vice President and President for the HEYDUDE Brand. Mr. Reilly, 56, most recently served as the President of the Stanley Brand where he reshaped the century-old insulated drinkware brand into a must-have brand of current culture. Prior to his time at Stanley, Mr. Reilly served as the Chief Marketing Office ...

Crocs (CROX) ended the recent trading session at $123.36, demonstrating a -1.74% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 1.2%. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 1.79%.Shares of the footwear company have depreciated by 2.05% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 4.46% and lagging the S&P 500's loss of 0.85%.The investment community will be closely monito ...