Crocs pulls guidance amid tariff uncertainty, Q1 earnings beat

Investing.com -- Crocs Inc (NASDAQ: CROX) reported better-than-expected first quarter earnings and revenue on Wednesday, but withdrew its full-year 2025 guidance due to macroeconomic uncertainties related to global trade policies.

The casual footwear maker posted adjusted earnings per share of $3.00, surpassing analyst estimates of $2.49. Revenue came in at $937 million, exceeding the consensus forecast of $907.9 million and up 1.4% YoY on a constant currency basis.

Despite the earnings beat, Crocs shares edged up just 0.5% following the report as investors digested the withdrawn guidance.

"While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future," said CEO Andrew Rees in a statement.

Gross margin improved to 57.8% from 56.0% in the year-ago quarter. Direct-to-consumer revenue grew 3.5% on a constant currency basis, while wholesale revenue was flat.

The company repurchased approximately 0.6 million shares for $61 million during the quarter at an average price of $100.23 per share.

Rees added, "We have a proven track record of coming out of periods of uncertainty stronger than when we entered them. I believe the current reality presents an opportunity to gain market share, as we focus on what we can control and lean into our clear, competitive advantages."

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