Core Viewpoint - Crocs is experiencing growth and is considered to be trading at a good value, particularly if the Hey Dude brand shows signs of recovery later in the year [1] Financial Performance - Crocs reported better-than-expected earnings this week, indicating strong financial performance [1] - Despite the positive earnings report, the stock price did not react favorably, presenting a potential investment opportunity [1] Brand Potential - There is optimism regarding a potential turnaround for the Hey Dude brand, which could further enhance Crocs' growth prospects [1]

Crocs (NASDAQ:CROX) stock is trading about 2% lower after the footwear company reported its secondquarter earnings. Crocs' revenue grew by 3.6% to $1.11 billion, beating the analyst estimate for $1.1 billion. International revenue for Crocs remains strong, growing by 18.7% to $425 million. However, HEYDUDE has continued to struggle, with revenue falling by 17.5% to $198 million. Crocs acquired HEYDUDE in December 2021 for $2.5 billion. "Strength in the quarter was led by our Crocs Brand with exceptional gro ...

Crocs, Inc. (CROX) posted solid results for second-quarter 2024, wherein the bottom and top lines surpassed the Zacks Consensus Estimate and grew year over year. Results gained from strength in the Crocs brand and outstanding international growth. With respect to the HEYDUDE brand, management has been making improvements to aid sustainable growth. As a result, Crocs raised its operating margin and earnings per share view for the current year while reiterating the revenue guidance. We note that shares of thi ...

Key Takeaways Crocs raised its full-year guidance but issued a third-quarter earnings projection below analysts' expectations. The footwear company posted record revenue and earnings in the second quarter. Part of the problem: A weak sales outlook for its Heydude brand, where it expects to pick up its marketing work in the second half. Crocs (CROX) delivered record revenue and earnings with its second-quarter results, but an underwhelming profit projection put a damper on the footwear company's momentum. Th ...

Financial Data and Key Metrics Changes - The company reported second quarter revenue of over $1.1 billion, marking the highest quarterly achievement in its history, with a 5% growth year-over-year [4][17] - Adjusted gross margin expanded by 330 basis points to 61.4%, while adjusted earnings per share grew by 12% to $4.01 [4][17] - Free cash flow reached record levels, allowing the company to pay down $200 million in debt and repurchase $175 million of common stock [4][22] Business Line Data and Key Metrics Changes - For the Crocs brand, revenues were $914 million, an 11% increase from the prior year, driven by a 14% growth in direct-to-consumer (DTC) sales and a 9% increase in wholesale [18] - HEYDUDE revenues were $198 million, down 17.5% from last year, with a 23% decrease in units sold [19] - The Jibbitz business saw strong double-digit growth, particularly in Asia, which was the highest penetration by geography [8] Market Data and Key Metrics Changes - North America revenue grew 3% year-over-year to $489 million, with DTC up 7% and wholesale down 4% [18] - International revenue increased by 22% to $425 million, led by exceptional growth in China (over 70%) and Australia [9][18] - The company emerged as the number one women's footwear brand on Tmall during the Midsummer Festival, indicating strong market presence in China [10] Company Strategy and Development Direction - The company focuses on three primary levers for long-term growth: igniting brand icons, driving market share gains in Tier 1 markets, and diversifying product offerings [5] - Strategic partnerships and product innovations, such as collaborations with popular brands and the introduction of new styles, are aimed at enhancing consumer engagement [6][12] - The company plans to continue investing in marketing and talent to support brand growth, particularly for HEYDUDE [15] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the U.S. consumer behavior, anticipating a flat revenue outlook for the Crocs brand in the second half of the year [29] - The company reaffirmed its full-year revenue guidance of 3% to 5% growth, despite facing $11 million in incremental foreign exchange headwinds [22][24] - Management remains optimistic about the long-term growth potential in international markets, particularly in China and Australia [42][68] Other Important Information - The company completed a $175 million share buyback during the quarter, with $700 million remaining on its repurchase authorization [22] - The annual capital expenditures are now planned between $100 million to $110 million, down from previous estimates [24] Q&A Session Summary Question: About the second-half revenue outlook and core North America Crocs sell-throughs - Management indicated satisfaction with share gains in the first half but expressed caution for the back half, expecting approximately flat revenue for Crocs in North America [29] Question: On SG&A investments and their effectiveness - Management highlighted that investments in talent and marketing are long-term strategies aimed at driving future growth, particularly in international markets [33] Question: Regarding the guidance for the remainder of the year - Management acknowledged a cautious outlook for the third quarter, with expectations for HEYDUDE wholesale to be down compared to last year [30] Question: On the impact of promotional activities and consumer behavior - Management noted that the market is more promotional than last year, but they do not anticipate a significant increase in promotions for the back half of the year [52] Question: About the China business and growth expectations - Management expressed excitement about the growth trajectory in China, emphasizing strong brand relevance and digital marketing efforts [66][68]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 000-51754 _________________________________________________________ ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Crocs (CROX) came out with quarterly earnings of $4.01 per share, beating the Zacks Consensus Estimate of $3.59 per share. This compares to earnings of $3.59 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 11.70%. A quarter ago, it was expected that this footwear company would post earnings of $2.25 per share when it actually produced earnings of $3.02, delivering a surprise of 34.22%. Over the last four quarters, the company ...

Exhibit 99.1 Investor Contact: Erinn Murphy, Crocs, Inc. (303) 848-7005 emurphy@crocs.com PR Contact: Melissa Layton, Crocs, Inc. (303) 848-7885 mlayton@crocs.com Crocs, Inc. Reports Record Second Quarter Revenues and Raises Full Year 2024 Earnings Per Share Outlook • Second Quarter Revenues Increased 4% Over Last Year To $1,112 Million • Second Quarter Diluted EPS Up 11% to $3.77 and Adjusted Diluted EPS Up 12% to $4.01 ___________________________________________________________________________ BROOMFIELD, ...

Second Quarter Revenues Increased 4% Over Last Year To $1,112 Million Second Quarter Diluted EPS Up 11% to $3.77 and Adjusted Diluted EPS Up 12% to $4.01 BROOMFIELD, Colo., Aug. 1, 2024 /PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a world leader in innovative casual footwear for all, today announced its second quarter 2024 financial results. "We reported record second quarter results on both the top and bottom line which exceeded our guidance on all Enterprise metrics," said Andrew Rees, Chief Executive Offi ...