Crocs Lifts FY22 Revenue Outlook Above Market Estimates; Sees Growth In FY23

(RTTNews) - Casual footwear company Crocs, Inc. (CROX) Tuesday said it now expects fiscal 2022 revenues of approximately $3.55 billion, which would represent approximately 53 percent growth compared to 2021. Strong consumer demand for both the Crocs and HEYDUDE brands would benefit higher revenues.

The company previously was expecting full-year revenue of $3.455 billion-$3.520 billion.

On average, nine analysts expect the company to record revenues of $3.51 billion for the year, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects year-over-year revenue growth of approximately 60 percent.

The company continues to expect full year 2022 adjusted operating margin of approximately 27 percent.

Further, for fiscal 2023, Crocs expects revenue growth of 10 percent to 13 percent compared to 2022, resulting in full year revenues of approximately $3.9 billion to $4.0 billion at current currency rates.

Analysts expect revenues of $3.92 billion for fiscal 2023.