Crocs (CROX) Tops Q4 EPS by 25c, Offers Guidance

Crocs (NASDAQ: CROX) reported Q4 EPS of $2.52, $0.25 better than the analyst estimate of $2.27. Revenue for the quarter came in at $990 million versus the consensus estimate of $963.96 million.

GUIDANCE:

Crocs sees Q3 2025 EPS of $2.38-$2.52, versus the consensus of $2.67.

With respect to the first quarter of 2025, we expect:

• Revenues to be down approximately 3.5% compared to the first quarter of 2024, at currency rates as of February 10, 2025. This includes an anticipated negative impact of approximately $19 million from foreign currency.
  • Crocs Brand to be down approximately 1% to flat compared to the first quarter of 2024.
  • HEYDUDE Brand to be down approximately 16% to 14% compared to the first quarter of 2024.
• Adjusted operating margin of approximately 21.5%, including an anticipated negative impact of approximately 80 bps from both foreign currency and announced and pending tariffs.
• Adjusted diluted earnings per share of $2.38 to $2.52. Adjusted diluted earnings per share guidance does not assume any impact from potential future share repurchases.

Full Year 2025

With respect to 2025, we expect:

• Revenue growth of approximately 2% to 2.5% compared to full year 2024, at currency rates as of February 10, 2025. This includes an anticipated negative impact of approximately $62 million from foreign currency.
  • Crocs Brand to grow approximately 4.5% compared to full year 2024.
  • HEYDUDE Brand to be down approximately 9% to 7% compared to full year 2024.
• Adjusted operating margin of approximately 24.0%, including an anticipated negative impact of approximately 60 bps from both foreign currency and announced and pending tariffs.
• Combined GAAP tax rate of approximately 21.5% and non-GAAP effective tax rate of approximately 18.0%.
• Adjusted diluted earnings per share of $12.70 to $13.15. Adjusted diluted earnings per share guidance does not assume any impact from potential future share repurchases.
• Capital expenditures of $80 million to $100 million.

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

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