CROCS Earnings: Here’s Why Shares are Up Now

CROCS Inc. (NASDAQ:CROX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.07%.

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CROCS Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 12.9% to $0.35 in the quarter versus EPS of $0.31 in the year-earlier quarter.

Revenue: Rose 14.68% to $311.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: CROCS Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.34. It beat the average revenue estimate of $305.08 million.

Quoting Management: “Our record revenue performance in the first quarter of 2013 demonstrates the benefit of innovative products, the success of our multi channel strategy and the global reach of our business. During the quarter we saw strong sell-in of our spring and summer line into our wholesale accounts globally and solid initial sell-through in our own retail channel, all of which contributed to a 17 percent constant currency revenue growth during the quarter,” said John McCarvel, President and Chief Executive Officer. “As we look into the core of the spring summer selling season, we are confident that our product line-up, including a combination of new collections and core products will continue to drive revenues forward.”

Key Stats (on next page)…

Revenue increased 38.54% from $224.99 million in the previous quarter. EPS increased 775% from $0.04 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.71 and has not changed. For the current year, the average estimate has moved down from a profit of $1.54 to a profit of $1.48 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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