Crocs Warns Q3 Revenue Will Be Flat, Missing Growth Expectations
CROX sits 64% above its 52-week low of $73.205.
Summary
Crocs guided for approximately flat Q3 revenue versus the prior year, a disappointment for a stock that has been under pressure from HEYDUDE brand weakness and declining earnings. The company had already reported a 1.7% revenue decline in Q1, and this outlook suggests no meaningful recovery in the near term. With a $6.6B market cap and shares at $120, the flat guidance may force analysts to cut estimates. The resumption of buybacks announced in April provides some support, but the top-line stagnation is the dominant signal here. Q2 revenue was $1.18B, beating by $30M, and adjusted EPS was $4.55, beating by $0.20. Full-year revenue is now seen up 1-2%, and adjusted EPS is guided to $13.70-$14.00. HEYDUDE decline is now expected at 2-4%, improved from 5-7%. Q3 adjusted EPS guidance of $3.20-$3.30 missed the $3.53 consensus. The buyback authorization was expanded to $1.5B.
Updated with a Dow Jones Newswires report · What changed
Updates
· Dow Jones Newswires — Q2 revenue was $1.18B, beating by $30M, and adjusted EPS was $4.55, beating by $0.20. Full-year revenue is now seen up 1-2%, and adjusted EPS is guided to $13.70-$14.00. HEYDUDE decline is now expected at 2-4%, improved from 5-7%. Q3 adjusted EPS guidance of $3.20-$3.30 missed the $3.53 consensus. The buyback authorization was expanded to $1.5B.
At the time of this announcement, CROX was trading at $120.00 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $6.6B. The 52-week trading range was $73.21 to $140.42. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.