Crocs shares rise after earnings beat, guidance lifted

Crocs shares rise after earnings beat, guidance lifted

Crocs Inc. CROX, +0.42% shares rose 3.1% in Thursday premarket trading after the shoe company reported third-quarter earnings and sales that beat expectations and guidance was raised. Net income totaled $6.5 million, or 7 cents per share, after a loss of $2.3 million, or 3 cents per share, for the same period last year. Revenue was $261.1 million, up from $243.3 million last year. The FactSet consensus was for a loss of a penny and revenue of $248.0 million. Crocs expects fourth-quarter revenue of $195.0 to $205.0 million, ahead of the $198.3 million FactSet outlook. And for the full year, the company expects revenue to rise 4% to 5% from $1.02 billion last year, up from the previous guidance for a low-single-digit increase. The FactSet consensus is for revenue of $1.06 billion, about 3.9% higher than last year. Crocs stock has soared more than 117% over the last year while the S&P 500 index SPX, +2.12% is up 8.5% for the period.

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