- Crocs Inc CROX has raised its fiscal year 2022 revenue outlook from 3.455 billion - $3.520 billion to $3.55 billion, against the consensus of $3.51 billion.
- The guidance represents approximately 53% growth compared to 2021.
- The company sees Q4 FY22 revenue growth of about 60% compared to 2021.
- Crocs continues to expect an FY22 non-GAAP operating margin of approximately 27%.
- "We are also pleased to have made significant progress on deleveraging, as we have reduced borrowings by approximately $500 million since acquiring HEYDUDE in early 2022," said CEO Andrew Rees.
- For FY23, the company expects revenue growth of 10% to 13% compared to 2022 to $3.9 billion - $4.0 billion (consensus $3.92 billion) at current currency rates.
- Price Action: CROX shares are trading higher by 0.50% at $114.00 in premarket on the last check Tuesday.
- Photo Via Wikimedia Commons
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.