Crocs Inc.’s second quarter results were down year over year. But the figures from the US shoe manufacturer were still above analyst estimates.
Earnings were $160.32 million, or $2.58 per share. For comparison, it was $318.95 million, or $4.93 per share, in the second quarter of last year. Excluding special items, Crocs Inc. reported adjusted earnings of $201.35 million, or $3.24 per share, for the period.
Analysts, on average, had expected the company to post earnings of $2.66 per share, according to figures compiled by Thomson Reuters. Analyst estimates typically exclude special items.
“I am very proud of our second quarter results,” Chief Executive Officer Andrew Rees said in a statement Thursday. “I am particularly pleased with the record sales from the Crocs brand and strong international growth. Heydude continues to exceed our expectations and we are now expecting.” nearly $1 billion in pro forma sales this year.”
The company’s revenue for the quarter increased 50.5 percent to $964.58 million from $640.77 million in the prior year. For the third quarter, the company expects revenue of between $915 million and $955 million.
Full year revenue is expected to be in the range of $3.395 billion to $3.505 billion and adjusted earnings per share to be in the range of $9.50 to $10.30. (dpa/FashionUnited)