Crocs (CROX) reported earnings on Tue 27 Oct 20 (b/o)

 ** charts after earnings **

 

Crocks CEO Andrew Rees (CNBC, 10/27/20)

Crocs beats by $0.24, beats on revs; provides guidance excluding impact of COVID-19

Reports Q3 (Sep) earnings of $0.94 per share, excluding non-recurring items, $0.24 better than the S&P Capital IQ Consensus of $0.70; revenues rose 15.6% year/year to $361.7 mln vs the $343.98 mln S&P Capital IQ Consensus.

Guidance: "In these unprecedented times, we will continue to provide forward visibility when appropriate. Excluding the potential impact of any future COVID-related shutdowns in major markets, we expect: Revenues: Fourth quarter revenue to grow between 20% and 30% compared to 2019. This translates into full year 2020 revenue growth of approximately 5% to 7%. Tax rate: A 2020 tax rate of approximately 11% as we project to utilize deferred tax assets that were previously subject to a valuation allowance. Capital expenditures: Approximately $50 million of capital expenditures for 2020, which reflects investment to support future growth."