Crocs (NASDAQ:CROX) reported quarterly adjusted earnings per share of $2.52, beating the street view of $2.26 as the Crocs brand exceeded expectations in North America, with strong growth in China accelerating.
Quarterly sales of $989.773 million (up 3.1% year over year) outpaced the analyst consensus estimate of $961.92 million. Crocs brand revenues grew 4.0% to $762 million, or 4.9% on a constant currency basis.
As of December 31, the company's cash and cash equivalents were $180 million compared to $149 million in the year-ago period. Inventories were $356 million compared to $385 million.
Crocs projects FY25 adjusted earnings per share between $12.70 and $13.15, surpassing the $12.58 estimate. Revenue growth is expected to be 2% – 2.5%, at currency rates as of February 10, 2025. Crocs brand is expected to grow about 4.5% in 2024, while HEYDUDE brand is projected to decline by 7% to 9%.
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