EarningsQ2 2026 Earnings Report

Crocs (CROX) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:CROX Q2 2026 EPS Results

Actual EPS$77.36

Consensus EPS$73.91

Beat/MissBeat by +$3.45

One Year Ago EPS$71.92

MX:CROX Q2 2026 Revenue Results

Actual Revenue$20.05B

Expected Revenue$19.53B

Beat/MissBeat by +$525.88M

YoY Revenue Growth+2.62%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeBefore Open

Conference CallThursday, July 30, 2026

MX:CROX Upcoming Earnings

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

Q2 2026 Earnings Call Audio

MX: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.

MX:CROX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 29, 2026	2026 (Q3)	56.07 / -	49.646	―
Jul 30, 2026	2026 (Q2)	73.91 / 77.36	71.919	7.57% (+5.44)
Apr 30, 2026	2026 (Q1)	47.13 / 50.84	51.007	-0.33% (-0.17)
Feb 12, 2026	2025 (Q4)	32.53 / 38.93	42.845	-9.13% (-3.91)
Oct 30, 2025	2025 (Q3)	40.19 / 49.65	61.208	-18.89% (-11.56)
Aug 07, 2025	2025 (Q2)	67.99 / 71.92	68.179	5.49% (+3.74)
May 08, 2025	2025 (Q1)	42.23 / 51.01	51.347	-0.66% (-0.34)
Feb 13, 2025	2024 (Q4)	38.42 / 42.85	43.866	-2.33% (-1.02)
Oct 29, 2024	2024 (Q3)	52.77 / 61.21	55.257	10.77% (+5.95)
Aug 01, 2024	2024 (Q2)	60.44 / 68.18	61.038	11.70% (+7.14)

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