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Dec 31, 2024
Crocs Q4 2024 Earnings Report
Key Takeaways
Crocs, Inc. reported a 3.1% YoY increase in Q4 revenue to $989,773,000, driven by a 4.0% growth in the Crocs Brand and a 5.5% increase in direct-to-consumer sales. Operating income declined by 4.6% to $199,915,000, while adjusted EPS decreased by 2.3% to $2.52. HEYDUDE revenue remained flat YoY but outperformed expectations.
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 revenue growth of 2.0% to 2.5% in FY 2025, led by a 4.5% increase in Crocs Brand sales. HEYDUDE revenue is projected to decline by 9% to 7%. Adjusted operating margin is expected to be approximately 24.0%, with an adjusted EPS range of $12.70 to $13.15.
Positive Outlook
- Crocs Brand expected to grow 4.5% in FY 2025.
- Adjusted operating margin projected to remain at 24.0%.
- Strong direct-to-consumer sales momentum.
- Continued share repurchases with $1.3B authorization.
- Cash flow supports further debt reduction and investments.
Challenges Ahead
- Total Q1 2025 revenue expected to decline by 3.5%.
- HEYDUDE revenue expected to decline by 9% to 7% in FY 2025.
- Foreign currency impact expected to reduce revenue by $62M in 2025.
- Tariffs and currency fluctuations will impact margins.
- Wholesale segment growth remains uncertain.