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Crocs Shares Fall on Soft Second Quarter Outlook

WWD·Vicki M. Young·about 1 month ago
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Shares of Crocs Inc. slipped 2.1 percent in pre-market trading after the clog maker posted a first quarter earnings report that was better than expected and raised full-year guidance. Still, Crocs shares slipped 4.1 percent to $96.00. Investors didn’t like the guidance the company provided for its second quarter outlook . Net income for the first quarter ended March 31 was down 14.1 percent to $137.6 million, or $2.71 a diluted share, from $160.1 million, or $2.83, in the same year-ago quarter. On an adjusted basis, diluted earnings per share (EPS) were $2.99. Revenues slipped 1.7 percent to $921.5 million from $937.3 million. You May Also Like Wall Street was expecting adjusted diluted EPS of $2.77 on revenue of $900.9 million. By brand, Crocs revenue were up 0.8 percent to $767 million. Direct-to-consumer revenue rose 12.9 percent to $322 million, while wholesale sales fell 6.5 percent to $446 million.…

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