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Mar 31, 2023
Crocs Q1 2023 Earnings Report
Crocs, Inc. reported a strong first quarter with revenue growth and raised full-year guidance.
Key Takeaways
Crocs, Inc. reported a 34% increase in first-quarter revenue, driven by growth in both the Crocs and HEYDUDE brands. The company raised its full-year revenue growth outlook to 11-14%, projecting approximately $4.0 billion in revenue.
Consolidated revenues increased by 33.9% to $884.2 million compared to 2022.
Crocs Brand revenues grew by 19.0% to $648.8 million.
HEYDUDE Brand revenues increased by 104.8% to $235.4 million.
Diluted earnings per share increased by 100.8% to $2.39.
Crocs
Crocs
Crocs Revenue by Segment
Crocs Revenue by Geographic Location
Revenue by Segment
HEYDUDE Brand Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Crocs, Inc. provided financial outlook for the second quarter and full year 2023, including revenue growth and adjusted operating margin.
Positive Outlook
- Revenues to grow approximately 6% to 9% in Q2 2023 compared to Q2 2022.
- Adjusted operating margin of approximately 26.0% for Q2 2023.
- Adjusted diluted earnings per share of $2.83 to $2.98 for Q2 2023.
- Consolidated revenue growth to now be 11% to 14% for full year 2023 compared to 2022.
- Adjusted diluted earnings per share to now be between $11.17 and $11.73 for full year 2023.