Crocs Shares Plunge As Q2 Outlook Below Street Estimates

Shares of Crocs, Inc. (CROX) are falling more than 18% Thursday morning after the company’s second-quarter outlook came in below analysts’ view.

For the second quarter Crocs expects adjusted EPS to be in the rang of $2.83 – $2.98. Analysts on average polled by Thomson-Reuters expect earnings of $3.23 per share.

Revenue in the second quarter is expected between $1.026 billion and $1.049 billion. The consensus estimate stands at $1.06 billion.

The company, however, reported nearly 100% growth in profit in the second quarter, helped by more than 30% revenue growth.

Profit was $149.54 million, or $2.39 per share for the first quarter, higher than $72.76 million, or $1.19 per share, in last year’s first quarter.

Excluding items, Crocs reported earnings of $163.41 million or $2.61 per share for the period. Analysts had expected the company to earn $2.15 per share.

The company’s revenue for the quarter rose 33.9% to $884.17 million from $660.15 million last year.

CROX is at $120.84 currently. It has traded in the range of $46.08-$151.32 in the last 52 weeks.

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