Crocs (NASDAQ: CROX) reported Q1 EPS of $1.47, $0.58 better than the analyst estimate of $0.89. Revenue for the quarter came in at $460.1 million versus the consensus estimate of $414.23 million.

Andrew Rees, Chief Executive Officer, said, "Demand for the Crocs brand is stronger than ever with expected 2021 revenue growth of 40% to 50%. In the first quarter we achieved record revenues and profitability, with growth in all regions and all channels. We have raised full year guidance as we continue to see consumer demand for our product accelerate globally."

GUIDANCE:

Second Quarter 2021

With respect to the second quarter of 2021, we expect:

• Revenue growth to be between 60% and 70% compared to second quarter 2020 revenues of $331.5 million.
• Non-GAAP adjustments of approximately $3 million related to distribution center investments that will impact gross margin.
• Non-GAAP operating margin to be between 21% and 23%.

Full Year 2021

With respect to 2021, we expect:

• Revenue growth to be between 40% and 50% compared to 2020 revenues of $1,386.0 million.
• Non-GAAP adjustments of approximately $12 to $15 million related to distribution center investments that will impact gross margin.
• Non-GAAP operating margin to be between 22% and 24%.
• GAAP tax rate and non-GAAP effective tax rate of approximately 20%.
• Capital expenditures of approximately $100 to $130 million for supply chain investments to support growth.

For earnings history and earnings-related data on Crocs (CROX) click here.