Crocs Lifts FY20 Revenue Outlook; Sees Accelerated FY21 Revenue Growth Of 20% To 25%

(RTTNews) - Casual footwear maker Crocs, Inc. (CROX) on Monday raised its fiscal 2020 revenue outlook and also projected accelerated full year 2021 revenue growth of 20 percent to 25 percent.

The company now forecasts fourth-quarter 2020 revenue to increase about 55 percent to be between $407 million and $410 million, up from the prior range of 20 percent to 30 percent growth.

For fiscal 2020, Crocs now projects revenue growth of over 12 percent, up from the prior range of about 5 percent to 7 percent growth. The company expects to record revenue between $1.381 billion and $1.384 billion for the full year.

On average, analysts polled by Thomson Reuters expect the company to report revenue growth of 25.5 percent to $330.07 million for the fourth quarter, and revenue growth of 6 percent to $1.30 billion for the full year.

Further ahead, Crocs projects fiscal 2021 revenue growth of 20 percent to 25 percent compared to 2020. The Street expects revenue growth for the year of 13 percent to $1.47 billion.