Crocs surges after beating quarterly estimates on strong demand
13/02/2025 15:31
(Updates)
** Casual footwear maker Crocs' CROX.O shares jump as much
as 24.6% to $110.65
** Company posts Q4 consol revenue of $990 million, beating
estimates of $961.92 million - data compiled by LSEG
** Says sales driven by outperformance in North American
business as well as growth in China
** Adjusted earnings per share of $2.52 also above
expectations
** Stock set for its best day since January 8, 2024
** Expects 2025 revenue growth of about 2% to 2.5%, compared
with analysts' expectations of 2.2%, pressured by a forecasted
7% to 9% decline in Heydude brand
** Annual outlook embeds potential U.S. tariffs on China,
Mexico, CROX says
** Expect the share of enterprise imports into the U.S. from
China to be about 15%; exposure to Mexico is expected to be
under 4% - company executives on post-earnings call
** Stock gained 17% in 2024
(Reporting by Savyata Mishra in Bengaluru)
((Savyata.Mishra@thomsonreuters.com))