Crocs investors sent shares up after the shoe firm's third straight raise on guidance and on Hey Dude's return to sales growth.

Crocs Inc.’s third-quarter report was so good that investors decided to throw a party, sending its shares up 25.4 percent to $150.15 in mid-afternoon trading.

The company raised its full-year 2026 revenue guidance — its third straight — from up 1 percent to 2 percent to up 3 percent.

“We remain confident in the long-term trajectory of both of our brands and are committed to executing against our strategic pillars to drive diversified growth,” Crocs chief executive officer Andrew Rees told investors during Thursday’s earnings conference call.

The company has good reason to celebrate as it continues to see improvement in the Hey Dude business.

Nearly a year ago, Crocs elevated 10-year Adidas North America veteran Rupert Campbell — he joined Crocs in March 2025 as Hey Dude’s senior vice president and chief commercial officer — as Hey Dude’s brand president. He’s charged with oversight over turning around the brand’s fortunes. And while there’s been some evidence of green shoots, the second quarter report didn’t reflect enough improvement for investors to get excited about the prospects of a turnaround this year.

That might have changed with Thursday’s third quarter report. Hey Dude’s revenues grew 6 percent for the three months ended Sept. 30, marking an important milestone for the footwear firm that earlier this the year promised to return the brand to growth. Needham’s Tom Nikic noted that the brand’s long-awaited return to growth in the third quarter marked its first positive quarter since the second quarter of fiscal year 2023.

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