Crocs, Inc. (NASDAQ:CROX) Q4 2023 Earnings Conference Call February 15, 2024 8:30 AM ET Company Participants Erinn Murphy - Senior Vice President of Investor Relations and Corporate Strategy Andrew Rees - Chief Executive Officer Anne Mehlman - Executive Vice President and Chief Financial Officer Conference Call Participants Tom Nikic - Wedbush Securities Jonathan Komp - Robert W. Baird Rick Patel - Raymond James Abbie Zvejnieks - Piper Sandler Jim Duffy - Stifel Nicolaus Chris Nardone - Bank of America Jeff ...

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For the quarter ended December 2023, Crocs (CROX) reported revenue of $960.1 million, up 1.6% over the same period last year. EPS came in at $2.58, compared to $2.65 in the year-ago quarter.The reported revenue represents a surprise of +0.20% over the Zacks Consensus Estimate of $958.21 million. With the consensus EPS estimate being $2.38, the EPS surprise was +8.40%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

Revenue Growth '+6% to 8% '+4% to 6% Adjusted Operating Margin(2,3)~22% ~25% | --- | --- | --- | |---------------------------------------------------|----------------------------------------|-------------| | GAAP HEYDUDE Brand gross margin 44.3 % 46.4 % | Three Months Ended December 31, \n2023 | 2022 | | Non-GAAP adjustments: | | | | Distribution centers (1) | | 1.2 % 0.1 % | | Inventory fair value step-up (3) | | — % — % | | Other — % 0.7 % | | | | Non-GAAP HEYDUDE Brand gross margin 45.5 % 47.2 % | | | | ...

Crocs Inc.’s stock rallied Thursday after the footwear company said it expects to beat analyst estimates for its 2024 profit and also handed in stronger-than-expected fourth-quarter results. Crocs CROX rose 2.4% to $110.95 in premarket trading, its highest level since last July. Chief Executive Andrew Rees said the company booked a record... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subscribe Now Already a su ...

Financial Position - As of December 31, 2023, the company had borrowings with a face value of $1,713.3 million, down from $2,379.3 million in 2022[277]. - A hypothetical 1% increase in interest rates would raise interest expenses by $10.1 million over the next twelve months[278]. - An increase of 1% in the value of the USD relative to foreign currencies would have decreased revenues by approximately $13.8 million for the year ended December 31, 2023[280]. Production and Sourcing - Approximately 56% of Crocs Brand production was in Vietnam for the year ended December 31, 2023, with the largest manufacturer producing 47% of total production[61]. - For the HEYDUDE Brand, approximately 83% of production was in China for the year ended December 31, 2023[61]. - The company has a flexible, globally-diversified sourcing strategy to mitigate concentration risks in manufacturing[59]. Warehousing and Distribution - The company operated warehouses and distribution facilities provided 3.4 million square feet of space, with third-party facilities adding another 0.9 million square feet[60]. Research and Development - The company continues to invest in research and development to enhance the properties of its proprietary Croslite™ material and reduce environmental impact[55]. Intellectual Property and Risk Management - The company actively protects its intellectual property, including trademarks and patents, to maintain competitive advantages in the market[62]. - The company utilizes forward contracts to manage foreign currency exchange risks, with a notional value of approximately $185.0 million as of December 31, 2023[281].

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Crocs, Inc. (CROX) is scheduled to release fourth-quarter 2023 results on Feb 15, before market open. This leading footwear brand company is expected to have witnessed year-over-year revenue growth in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $958.3 million, suggesting a rise of 1.4% from the prior-year reported figure.The consensus estimate for fourth-quarter earnings per share has moved up 5.3% in the past 30 days to $2.37. The consensus estimate suggests a decline ...

Crocs (CROX) has struggled to maintain any upward consistency on the charts during the past year, finally clawing its way above breakeven for the first month of 2024, but still sporting a 17% 12-month deficit. The equity was last seen trading 0.9% higher at $99.85, putting pressure on the resistant $100 mark overhead. History may be on CROX’s side, however, with a bull signal now flashing.The footwear maker has come within one standard deviation of its 80-day moving average, after a lengthy period above the ...