{"id":1187,"date":"2023-04-28T00:30:13","date_gmt":"2023-04-28T04:30:13","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/crocs-shares-slide-despite-earnings-beat\/"},"modified":"2023-04-28T00:30:13","modified_gmt":"2023-04-28T04:30:13","slug":"crocs-shares-slide-despite-earnings-beat","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=1187","title":{"rendered":"Crocs shares slide despite earnings beat"},"content":{"rendered":"
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\u00a9 Reuters. Crocs (CROX) shares slide despite earnings beat<\/span>
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Footwear company Crocs <\/span><\/span> (NASDAQ:) dropped in premarket trading Thursday despite the company’s profit and revenue coming in above expectations.<\/p>\n

Crocs shares are down over 8% at the time of writing, trading at $134 per share, following Wednesday’s 1.7% gain.<\/p>\n

The brand earnings of $2.61 per share, above consensus expectations of $2.15 per share, while revenue for the quarter came in at $884.2 million, up 33.9% YoY, and above the analyst consensus estimate of $851.78M.<\/p>\n

The company’s direct-to-consumer business revenues, which include retail and e-commerce, grew 33.5%, with wholesale revenues rising 34.2% compared to the same period in 2022.<\/p>\n

“Our exceptional first quarter results are a testament to the strength of our brands. The Crocs Brand grew 19.0% as we see a strong consumer response to our new clog and sandal introductions. The HEYDUDE brand is gaining momentum and experienced outstanding DTC growth,” commented Andrew Rees, Crocs’ chief executive officer.<\/p>\n

Looking ahead, the company sees its second-quarter adjusted EPS between $2.83 and $2.98, with revenue expected from $1.03 billion to $1.05B.<\/p>\n

For the full year, its adjusted EPS is seen between $11.17 and $11.73, with revenue for the period expected to be from $3.95B to $4.05B.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Crocs (CROX) shares slide despite earnings beat Footwear company Crocs (NASDAQ:) dropped in premarket trading Thursday despite the company’s profit and revenue coming in above expectations. Crocs shares are down over 8% at the time of writing, trading at $134 per share, following Wednesday’s 1.7% gain. The brand earnings of $2.61 per share, […]<\/p>\n","protected":false},"author":1,"featured_media":1188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-1187","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCrocs shares slide despite earnings beat | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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