- Crocs Inc (NASDAQ:CROX) reported second-quarter FY22 sales growth of 50.5% year-on-year to $964.58 million, beating the consensus of $937.44 million.
- Wholesale revenue grew 80.6% Y/Y, and Direct-to-consumer (DTC) sales increased 22.8% Y/Y.
- Crocs Brand North America revenues totaled $422.9 million, up 7.6% Y/Y. Crocs Brand’s Asia Pacific revenues increased 17.4%, and EMEALA revenues jumped 32.8%.
- The gross margin contracted 1,010 basis points to 51.6%, while the adjusted gross margin contracted 660 basis points to 55.2%.
- Selling, general and administrative expenses increased 24.9% to $249.8 million.
- The operating margin was 25.7% versus 30.5% last year, and the operating income rose 27% to $248 million.
- The company held $187.4 million in cash and equivalents as of June 30, 2022.
- Inventories jumped 134.8% Y/Y to $501.5 million.
- Adjusted EPS of $3.24 beat the analyst consensus of $2.66.
- Outlook: Crocs sees Q3 sales of $915 million – $955 million, versus the estimate of $961.91 million.
- It sees FY22 sales of $3.395 billion – $3.505 billion (prior view ~$3.5 billion), against the estimate of $3.47 billion.
- Crocs expects FY22 adjusted EPS of $9.50 – $10.30 (prior view $10.05 – $10.65), versus the consensus of $10.35.
- Price Action: CROX shares are trading lower by 13.29% at $67.04 on the last check Thursday.
- Photo Via Company
First Financial Q2 EPS $1.27 Up From $1.24 YoY
First Financial (NASDAQ:THFF) reported quarterly earnings of $1.27 per share. This is a 2.42 percent increase over earnings of $1.24 per share from the same period last year.
