Crocs Stock Jumps Double Digits on Blowout Earnings and Raised Outlook

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Samantha McDonaldApril 27, 2021, 5:52 AM·2 min readOops!Something went wrong.Please try again later.

Crocs Inc. shares were up double digits in Tuesday premarket trading following the release of a blowout first-quarter report and raised guidance from the clog maker.

For the three months ended March 31, the Broomfield, Colo.-based company recorded adjusted earnings of $1.49 per share, versus the prior year period’s earnings of 16 cents per share. Wall Street had predicted earnings of 89 cents per share.

Revenues spiked 63.6% to $460.1 million, compared with consensus bets of $415.3 million.

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At 8:30 a.m. ET, CROX stock was up 10% to $93.32.

During the first quarter, the brand’s direct-to-consumer business improved 93.3% to $170.1 million, while its wholesale channel advanced 50.1% to $290 million. By geography, more...