Crocs, Inc. expects 2022 revenues to surge approximately 53 percent to roughly $3.55 billion. The company had previously guided to growth of approximately 49 percent to 52 percent versus full-year 2021.
Fourth quarter 2022 revenue growth is expected to grow approximately 60 percent compared to the 2021 comparable quarter.
Full-year 2022 non-GAAP operating margin is estimated at approximately 27 percent and the company said it reduced borrowings by $300 million during the fourth quarter.
“2022 was an exceptional year for Crocs, Inc., with strong consumer demand for both the Crocs and HeyDude brands driving expected 53 percent revenue growth. We are also pleased to have made significant progress on deleveraging, as we have reduced borrowings by approximately $500 million since acquiring HeyDude in early 2022,” said company CEO Andrew Rees in a release.
Looking to 2023, CROX expects revenue growth of 10 percent to 13 percent compared to 2022, resulting in full-year revenues of approximately $3.9 billion to $4.0 billion at current currency rates.
