Crocs (CROX) Tops Q3 EPS by 62c

Crocs (NASDAQ: CROX) reported Q3 EPS of $2.47, $0.62 better than the analyst estimate of $1.85. Revenue for the quarter came in at $626 million versus the consensus estimate of $608.04 million.

Financial Outlook:

Full Year 2021

With respect to 2021, we expect:

• Revenue growth to be between 62% and 65% compared to 2020 revenues of $1,386.0 million.
• Non-GAAP adjustments of approximately $8 to $10 million related to distribution center investments that will negatively impact gross margin.
• Non-GAAP operating margin of approximately 28%.
• Non-GAAP effective tax rate of approximately 23%.
• Capital expenditures of approximately $75 million for supply chain investments to support growth.

Full Year 2022

With respect to 2022, we expect:

• Revenue growth to exceed 20% compared to 2021.
• Gross margin to include an incremental $75 million of air freight compared to 2021.
• Non-GAAP operating margin excluding the impact of air freight of approximately 28%.

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

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