Crocs, Inc. Stock Surges on Q1 Earnings Beat

Crocs, Inc. (NASDAQ:CROX) stock was on the rise Tuesday following the release of its earnings report for the first quarter of 2018.

Crocs, Inc. Stock Surges on Q1 Earnings Beat

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During the first quarter of the year, Crocs, Inc. reported earnings per share of 15 cents. This is better than its earnings per share of 8 cents reported in the same period of the year prior. It was also a boon to CROX stock by coming in above Wall Street’s earnings per share estimate of 13 cents for the quarter.

Net income reported by Crocs, Inc. for the first quarter of 2018 came in at $16.45 million. The shoe company’s net income reported in the first quarter of 2017 was $11.01 million.

Crocs, Inc. also reported operating income of $25.92 million for the first quarter of the year. This is an increase over its operating income of $15.58 million reported for the same time last year.

Crocs, Inc.’s earnings report for the first quarter of 2018 also includes revenue of $283.15 million. This is an improvement over its revenue of $267.91 million that was reported in the same quarter of the previous year. It was also good news for CROX stock by beating out analysts’ revenue estimate of $272.21 million for the period.

Crocs, Inc. also took time during its most recent earnings report to update its guidance for the full year of 2018. It is expecting revenue for the period to increase in the single low digit range. Revenue reported in 2017 was $1.02 billion. Wall Street is looking for CROX to report revenue of $1.02 billion again in 2018.

CROX stock was up 4% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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