Crocs (CROX) Q2 2026 Earnings Report

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Previous Report: Q1 2026

CROX Q2 2026 EPS Results

Actual EPS$4.55

Consensus EPS$4.35

Beat/MissBeat by +$0.20

One Year Ago EPS$4.23

CROX Q2 2026 Revenue Results

Actual Revenue$1.18B

Expected Revenue$1.15B

Beat/MissBeat by +$30.93M

YoY Revenue Growth+2.62%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeBefore Open

Conference CallThursday, July 30, 2026

CROX Upcoming Earnings

Crocs's next earnings date is estimated for October 29, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

CROX Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Positive

Overall the call conveyed constructive momentum: record quarterly revenue, a major Crocs brand milestone (> $1B), strong direct-to-consumer performance, EPS upside and an aggressive capital return program. These positives are tempered by margin headwinds from tariffs, continued wholesale softness, a revenue-recognition shift with a major marketplace that will reduce reported DTC revenue and an ongoing HEYDUDE recovery (revenue down 6% but DTC improving). On balance, the company raised guidance, demonstrated cash generation and returned capital while outlining a clear plan to stabilize and grow both brands.

Company Guidance

Management guided full‑year 2026 enterprise revenue growth of 1–2% (FX as of July 27), with Crocs brand revenue now expected to be up 2–3% (versus prior flat to +2%) and HEYDUDE down ~2–4% (improved from −5% to −7% prior). They raised full‑year adjusted diluted EPS to $13.70–$14.00 (from $13.20–$13.75) and reiterated capital plans: capex $70–$80M and a Board‑approved additional $1.5B repurchase (total available ≈ $2B); Q2 return of cash included ~2.3M shares repurchased for $251M and $31M of debt paydown. Margin and tax guidance: adjusted gross margin expected to be slightly up year‑over‑year despite tariffs (Q2 adj. gross margin was 60%, down 170 bps including ~160 bps tariff impact), adjusted operating margin to expand modestly from FY25’s 22.3% (ex‑$25M nonrecurring), adjusted SG&A roughly flat, non‑GAAP tax rate ~18% (GAAP ~23%). Near‑term outlook: Q3 revenues about flat (FX as of July 27) with Crocs ≈ +1% and HEYDUDE flat to −3%, Q3 adj. operating margin ≈ 21.5% (embedding adj. gross margin ~+170 bps Y/Y) and Q3 adj. EPS $3.20–$3.30; balance sheet/inventory metrics include cash just over $170M, revolver capacity ≈ $870M, inventory $389M (−4% Y/Y), inventory units down high‑single digits and annualized inventory turns above the 4x goal.

Record Enterprise Revenue and Top-Line Growth

Delivered record enterprise revenue of $1.2 billion, up 2% year-over-year on a constant currency basis; raised full-year enterprise revenue guidance to +1% to +2%.

Crocs Brand Milestone

Crocs brand exceeded $1.0 billion in quarterly revenue for the first time, with brand revenue up 4% year-over-year and international Crocs growth of 7% (double-digit growth in China, India and Japan).

Strong Direct-to-Consumer Performance

Direct-to-consumer growth was robust: Crocs DTC up 12% and HEYDUDE DTC up 7%, with marketplaces and social commerce (TikTok Shop Super Brand Day) cited as key drivers.

Earnings and EPS Outperformance

Adjusted diluted EPS of $4.55, up 8% year-over-year and above prior guidance ($4.15–$4.30), and full-year adjusted diluted EPS guidance raised to $13.70–$14.00 (from $13.20–$13.75).

Shareholder Returns and Capital Allocation

Repurchased ~2.3 million shares for $251 million during the quarter and received Board approval for an additional $1.5 billion share repurchase authorization (bringing total available to ~ $2.0 billion); also paid down $31 million of debt.

Inventory and Cash Generation

Ended quarter with inventory of $389 million (down 4% YoY) and inventory footwear units down high-single-digits; enterprise inventory turns were above goal (>4x annualized). Cash and revolver availability: ~$170M cash and ~$870M revolver capacity.

Category and Product Momentum (Sandals & Diversification)

Sandals business was a standout (global sandals ~$0.5 billion), driving share gains and contributing materially to Crocs North America stabilization; diversification across Crocband, Echo, Crafted, Ballet Flat and new sandal styles cited as drivers of growth.

Brand & Marketing Wins

High-impact collaborations and marketing (BAPE sellout, F1 Red Bull Racing, Paris Fashion Week, micro-dramas with ~20M views) and social commerce innovations (TikTok Shop, shoppable series, AI-enabled shopping tests) drove new customer acquisition and engagement.

CROX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 29, 2026	2026 (Q3)	3.30 / -	2.92	―
Jul 30, 2026	2026 (Q2)	4.35 / 4.55	4.23	7.57% (+0.32)
Apr 30, 2026	2026 (Q1)	2.77 / 2.99	3	-0.33% (>-0.01)
Feb 12, 2026	2025 (Q4)	1.91 / 2.29	2.52	-9.13% (-0.23)
Oct 30, 2025	2025 (Q3)	2.36 / 2.92	3.6	-18.89% (-0.68)
Aug 07, 2025	2025 (Q2)	4.00 / 4.23	4.01	5.49% (+0.22)
May 08, 2025	2025 (Q1)	2.48 / 3.00	3.02	-0.66% (-0.02)
Feb 13, 2025	2024 (Q4)	2.26 / 2.52	2.58	-2.33% (-0.06)
Oct 29, 2024	2024 (Q3)	3.10 / 3.60	3.25	10.77% (+0.35)
Aug 01, 2024	2024 (Q2)	3.56 / 4.01	3.59	11.70% (+0.42)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed