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Dec 31, 2022
Crocs Q4 2022 Earnings Report
Crocs reported record annual revenues driven by exceptional consumer demand for both Crocs and HEYDUDE brands.
Key Takeaways
Crocs, Inc. reported a strong fourth quarter and full year 2022, with revenues reaching $945.2 million, a 61.1% increase from the same period last year. The company's annual revenues hit a record $3.6 billion, a 54% growth over 2021. The growth was fueled by strong consumer demand for both Crocs and HEYDUDE brands.
Revenues increased by 61.1% to $945.2 million compared to the same period last year.
Direct-to-consumer revenues grew by 61.2%, and wholesale revenues also increased by 61.1%.
Diluted earnings per share were $2.20, while adjusted diluted earnings per share increased by 23.3% to $2.65.
The company anticipates another record year in 2023, with growth expected to be led by sandals and international for the Crocs Brand and increased US market penetration for HEYDUDE.
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
The company provided financial outlook for the first quarter and full year 2023.
Positive Outlook
- Revenues to grow approximately 27% to 30% compared to first quarter 2022 revenues of $660.1 million.
- Adjusted operating margin of approximately 24% to 25%.
- Adjusted diluted earnings per share of $2.06 to $2.19.
- Revenue growth of 10% to 13% compared to 2022, resulting in full year revenues of approximately $3.9 billion to $4.0 billion at current currency rates.
- Adjusted diluted earnings per share of $11.00 to $11.31.