CONNECT WITH US
eCommerce

eCommerce

Crocs’ Shares Soar After Q3 Beat and Strong Outlook

WWD logo

Published on

Add as a preferred source on Google
Crocs’ Shares Soar After Q3 Beat and Strong Outlook

Crocs shares spike in pre-market trading after the company reported both a strong quarter and solid outlook.

Crocs Inc. shares jumped more than 15 percent in pre-market trading after the shoe firm bested Wall Street’s third quarter consensus estimates and raised full-year 2026 outlook.

Notably, Hey Dude revenue marked a major milestone as the brand returned to growth in the quarter.

“We delivered a strong third quarter with growth across brands, channels and geographies, while expanding margins year over year through disciplined execution of our brand strategies,” said Andrew Rees, chief executive officer, in a statement.

Rees added that the Crocs brand delivered a record third quarter with revenues up 4 percent, “led by double-digit international revenue growth and continued momentum across our product diversification strategy.” At Hey Dude, “revenues grew 6 percent, marking an important milestone as we delivered on our commitment stated earlier in the year to return the brand to growth.”

Rees also said the strength of the business model and “exceptional free-cash-flow generation” provides the company with “significant flexibility to invest behind our brands.”

During the quarter, Crocs also returned $250 million to shareholders through share repurchases, while it continued to strengthen its balance sheet through debt pay down. The company purchased 2 million shares at the average share price of $123.32. At quarter-end, approximately $1.7 billion of share repurchase authorization remained available for future repurchases, the company said. Crocs also repaid $21 million of debt.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.