Crocs (CROX) reported earnings on Thur 21 Oct 21 (b/o)

 

Crocs beats by $0.61, beats on revs; raises FY21 rev outlook; guides FY22 revs above consensus

• Reports Q3 (Sep) earnings of $2.47 per share, excluding non-recurring items, $0.61 better than the S&P Capital IQ Consensus of $1.86; revenues rose 73.0% year/year to $625.92 mln vs the $609.75 mln S&P Capital IQ Consensus.
• Co raises guidance for FY21, now sees FY21 revenue growth of 62-65% vs prior guidance of 60-65%; we compute new guidance as $2.25-2.29 bln vs. $2.27 bln S&P Capital IQ Consensus.
• Co issues upside guidance for FY22, sees FY22 revs exceeding 20%, which is above the $2.60 bln S&P Capital IQ Consensus.