Loading...
•
Jun 30, 2022
Crocs Q2 2022 Earnings Report
Crocs reported record revenues and strong growth, with HEYDUDE outperforming expectations.
Key Takeaways
Crocs, Inc. reported a 51% increase in consolidated revenues to $964.6 million for the second quarter of 2022. The Crocs Brand saw record quarterly revenues, and the HEYDUDE Brand continued to exceed expectations. Adjusted diluted EPS rose 45% to $3.24.
Consolidated revenues increased by 50.5% to $964.6 million.
Crocs Brand revenues grew by 14.3% to $732.2 million.
HEYDUDE Brand revenues were $232.4 million, up approximately 96% compared to 2021.
Adjusted diluted earnings per share increased 45.3% to $3.24.
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 expects consolidated revenues to be approximately $915 to $955 million for Q3 2022, implying approximately 46% to 53% growth compared to third quarter 2021.
Positive Outlook
- Consolidated revenues to be approximately $915 to $955 million.
- Crocs Brand revenues to be $680 to $700 million, implying approximately 15% to 18% growth on a constant currency basis.
- HEYDUDE Brand revenues of approximately $235 to $255 million.
- Adjusted operating margin of approximately 25% to 26%, excluding non-GAAP adjustments.
- Full year 2022 adjusted diluted earnings per share to now be between $9.50 and $10.30.
Challenges Ahead
- Adjusted operating margin includes approximately $15 million impact from air freight.
- Gross margin to still include $75 million of air freight in 2022.
- Supply chain disruptions.
- Cost inflation.
- Potential adverse currency exchange rate fluctuations and other international operating risks