WASHINGTON (dpa-AFX) - (Adds Outlook)
Crocs Inc. (CROX) revealed earnings for second quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $160.32 million, or $2.58 per share. This compares with $318.95 million, or $4.93 per share, in last year's second quarter.
Excluding items, Crocs Inc. reported adjusted earnings of $201.35 million or $3.24 per share for the period.
Analysts on average had expected the company to earn $2.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 50.5% to $964.58 million from $640.77 million last year.
Outlook:
Looking forward to the third quarter, the company expects revenues to bein the range of $915 million to $955 million. The consensus estimate stands at $961.91 million.
For the full year, revenue is expected between $3.395 billion and $3.505 billion and adjusted EPS to be in the range of $9.50-$10.30.
Analysts expect the company to report earnings of $10.35 per share on revenue of $3.47 billion.
Crocs shares are down more than 4% in pre-market. On Wednesday, the stock closed at $77.38, up 6.38%.
Crocs Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $160.32 Mln. vs. $318.95 Mln. last year. -EPS (Q2): $2.58 vs. $4.93 last year. -Analyst Estimates: $2.66 -Revenue (Q2): $964.58 Mln vs. $640.77 Mln last year.
-Guidance: Next quarter revenue guidance: $915 to $955 Mln Full year revenue guidance: $3.395 to $3.505 Bln
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX