Crocs Inc. CROX, +2.51% stock rose 3.1% in Thursday premarket trading after it reported first-quarter earnings that beat expectations and raised its full-year guidance. The shoe company posted net income totaling $72.8 million, or $1.19 per share, down from $98.4 million, or $1.47 per share, last year. Adjusted EPS of $2.05 blew past the FactSet consensus for $1.55. Revenue of $660.1 million was up from $460.1 million and also ahead of the FactSet consensus for $622.2 million. Crocs announced the acquisition of the HeyDude brand in December 2021. For the second quarter, Crocs is guiding for revenue of $918 million to $957 million. The FactSet consensus is for $962.1 million. For the year, Crocs raised its revenue outlook to about $3.5 billion and its adjusted EPS guidance to $10.05 to $10.65 from $9.70 to $10.25. The FactSet consensus is for revenue of $3.418 billion and EPS of $9.98. Crocs stock has slumped 43.7% for the year to date.
View Article Origin Here
