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Sep 30, 2020
Crocs Q3 2020 Earnings Report
Reported record third quarter results with revenue growth and increased operating income.
Key Takeaways
Crocs, Inc. announced record third quarter revenue of $362 million, a 16% increase, with operating income rising 81% and diluted EPS increasing 78% to $0.91.
Record third quarter revenues at $361.7 million, up 15.7% year-over-year.
Digital sales grew 35.5%, representing 37.7% of revenue.
Operating income increased 80.7% to $72.1 million.
Diluted earnings per share grew 78.4% to a quarterly record of $0.91.
Revenue by Geographic Location
Forward Guidance
Crocs expects fourth quarter revenue to grow between 20% and 30% compared to 2019, leading to full year 2020 revenue growth of approximately 5% to 7%. The company anticipates a 2020 tax rate of approximately 11% and capital expenditures of approximately $50 million.
Positive Outlook
- Fourth quarter revenue to grow between 20% and 30% compared to 2019.
- Full year 2020 revenue growth of approximately 5% to 7%.
- A 2020 tax rate of approximately 11%.
- Capital expenditures of approximately $50 million for 2020.
- Strong liquidity position with $364.4 million in available borrowing capacity.
Challenges Ahead
- Potential impact of future COVID-related shutdowns in major markets.
- Increased inventories to $174.1 million due to higher in-transit inventories.
- Temporary suspension of share repurchase program to maximize liquidity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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