Crocs (CROX) Tops Q3 EPS by 25c, Revenues Beat

Crocs (NASDAQ: CROX) reported Q3 EPS of $0.94, $0.25 better than the analyst estimate of $0.69. Revenue for the quarter came in at $361.7 million versus the consensus estimate of $339.56 million.

"We achieved record third quarter revenue and EPS despite the challenges presented by the global COVID-19 pandemic. Our extraordinary performance and strong cash flow generation demonstrates the strength of the Crocs brand and product offering globally. I am tremendously proud of how we have executed as a team and am excited for our future.

GUIDANCE:

• Revenues: Fourth quarter revenue to grow between 20% and 30% compared to 2019. This translates into full year 2020 revenue growth of approximately 5% to 7%.
• Tax rate: A 2020 tax rate of approximately 11% as we project to utilize deferred tax assets that were previously subject to a valuation allowance.
• Capital expenditures: Approximately $50 million of capital expenditures for 2020, which reflects investment to support future growth.

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

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