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Dec 31, 2021
Crocs Q4 2021 Earnings Report
Reported record annual revenues and a successful Q4, driven by strong consumer demand and strategic growth initiatives.
Key Takeaways
Crocs, Inc. reported a strong Q4 2021 with revenues of $586.6 million, a 42.6% increase year-over-year. The company's operating margin rose to 27.3%, and adjusted diluted earnings per share doubled to $2.15. Crocs is confident in its plan to grow to $6 billion in revenues by 2026.
Revenues increased by 42.6% to $586.6 million compared to the same period last year.
Direct-to-consumer revenues grew by 44.5%, and wholesale revenues increased by 40.3%.
Operating margin rose to 27.3% from 15.7% for the same period last year.
Adjusted diluted earnings per share doubled to $2.15 compared to $1.06 for the same period last year.
Revenue by Geographic Location
Forward Guidance
For Q1 2022, Crocs expects revenues between $605 to $630 million, representing 31% to 37% growth. Crocs brand revenues are expected to grow 13% to 16%, excluding HEYDUDE. Adjusted operating margin is expected to be approximately 22%.
Positive Outlook
- Revenues to be approximately $605 to $630 million, implying approximately 31% to 37% growth compared to first quarter 2021 revenues of $460.1 million.
- Excluding HEYDUDE, we expect Crocs brand revenues of $520 to $535 million, which implies organic growth of approximately 13% to 16%.
- Adjusted operating margin of approximately 22% including a roughly $30 million impact from air freight.
- Revenue growth for the Crocs brand, excluding HEYDUDE, to exceed 20% compared to 2021.
- Adjusted diluted earnings per share of $9.70 to $10.25.
Challenges Ahead
- Adjusted operating margin of approximately 22% including a roughly $30 million impact from air freight.
- Gross margin to include an incremental $75 million of air freight in the first half of 2022.
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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