Crocs, Inc. reported earnings doubled in the first quarter ended March 31 on a 34 percent revenue gain. Sales gains were boosted by last year’s acquisition of Hey Dude and a 19.0 gain for the Crocs brand. Full-year guidance was raised due to accelerated momentum with the Crocs brand.
Sales of $884.2 topped company guidance in the range of $838 million to $858 million and Wall Street’s consensus estimate of $856 million. Adjusted operating margin was 27.9 percent topped guidance in the range of 24 percent to 25 percent. Adjusted EPS of $2.61 exceeded guidance between $2.06 and $2.19 and Wall Street’s consensus target of $2.15.
For more background and details on Crocs’ Q1 results, including a weak Q2 outlook and a miss with the HeyDude brand, get inside company management’s call with analysts and media at SGB Executive here:
EXEC: Crocs’ Shares Hit By Projected Top-Line Slowdown, Hey Dude Shortfall
Photo courtesy Hey Dude
