Crocs raises guidance after record Q1

BROOMFIELD — On the heels of its best sales year in 2020, casual footwear maker Crocs Inc. (Nasdaq: CROX) posted another all-time revenue high in the first quarter of 2021 and is raising its guidance for the entire fiscal year. 

The company posted $460.1 million in sales in Q1, up 63.6% year-over-year.

Income from operations grew to $124.7 million from $20.8 million for the same period last year, and diluted adjusted earnings per share were $1.47, compared with 16 cents in Q1 2020.

As a result of its historic performance in the first quarter, Crocs is raising its fiscal year 2021 revenue projection to nearly $1.39 billion.

“Demand for the Crocs brand is stronger than ever with expected 2021 revenue growth of 40% to 50%,” Crocs CEO Andrew Rees said in a prepared statement. “In the first quarter we achieved record revenues and profitability, with growth in all regions and all channels. We have raised full year guidance as we continue to see consumer demand for our product accelerate globally.” 

Crocs’ earnings report sent the company stock soaring up 15.3% on the day, ending trading Tuesday $97.82.

© 2021 BizWest Media LLC

BROOMFIELD — On the heels of its best sales year in 2020, casual footwear maker Crocs Inc. (Nasdaq: CROX) posted another all-time revenue high in the first quarter of 2021 and is raising its guidance for the entire fiscal year. 

The company posted $460.1 million in sales in Q1, up 63.6% year-over-year.

Income from operations grew to $124.7 million from $20.8 million for the same period last year, and diluted adjusted earnings per share were $1.47, compared with 16 cents in Q1 2020.

As a result of its historic performance in the first quarter, Crocs is raising its fiscal year 2021 revenue projection to nearly $1.39 billion.

“Demand for the Crocs brand is stronger than ever with expected 2021 revenue growth of 40% to 50%,” Crocs CEO Andrew Rees said in a prepared statement. “In the first quarter we achieved record revenues and profitability, with growth in all regions and all channels. We have raised full year guidance as we continue to see consumer demand for our product accelerate globally.” 

Crocs’ earnings report sent the company stock soaring up 15.3% on the day, ending trading Tuesday $97.82.

© 2021 BizWest Media LLC