Crocs reports Q1 adjusted EPS $3.02, consensus $2.23

Reports Q1 revenue $939M, consensus $881.71M. “We delivered an exceptional Q1, led by mid-teens growth of our Crocs Brand, driven by robust consumer demand both in North America and in international markets.” said Andrew Rees, CEO. “Our record revenue, industry-leading gross margins and the power of our diversified business enabled us to raise our full-year adjusted diluted earnings per share outlook.” Rees continued, “As we continue to prioritize brand health in the North American market for HEYDUDE, and considering what we are seeing quarter-to-date, we are reducing our revenue expectations for the brand for the balance of the year. We are confident in the long-term opportunity for the HEYDUDE brand and are excited to welcome a new HEYDUDE President to fully unlock its future potential.”