Crocs Stock Jumps On ‘Exceptional’ Demand: What’s Going On? – Crocs (NASDAQ:CROX)

Crocs Inc CROX shares are trading higher Thursday after the company reported strong financial results and issued guidance above analyst estimates.

Q4 Revenue: $945.16 million beat estimates of $939.26 million
Q4 EPS: $2.65 beat estimates of $2.26

“Consumer demand for the Crocs and HEYDUDE brands has been exceptional, fueling record 2022 revenues for both brands at a combined $3.6 billion and top-tier adjusted operating margin of 28%. We anticipate another record year in 2023 with growth expected to be led by sandals and international for the Crocs Brand and increased US market penetration for HEYDUDE,” said Andrew Rees, CEO of Crocs.

Crocs ended the quarter with cash and equivalents of $191.6 million, down from $213.2 million year-over-year.

Crocs sees first-quarter revenues up 27% to 30%. First-quarter adjusted earnings are expected to be in a range of $2.06 to $2.19 per share versus estimates of $2.02 per share.

Crocs anticipates full-year revenue growth between 10% and 13%. The company sees full-year adjusted earnings in a range of $11 to $11.31 per share versus estimates of $10.86 per share.

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CROX Price Action: Crocs shares are making new 52-week highs on Thursday.

The stock was up 5.66% at $132.78 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Crocs.