Crocs Q2 Revenue Rises 4% to $1.11B, EPS Up 12% to $4.01; HEYDUDE Revenue Down 17.5%

Crocs, Inc. reported its second quarter earnings for 2024, revealing a revenue increase of 4% year-over-year to $1.112 billion, surpassing analysts' expectations of $1.1 billion. The company's diluted earnings per share (EPS) rose 11% to $3.77, while adjusted diluted EPS increased 12% to $4.01, exceeding estimates of $3.54. However, the HEYDUDE brand experienced a decline in revenues, falling 17.5% to $198 million. For the third quarter, Crocs provided guidance indicating an expected EPS of $2.95 to $3.10, below the consensus estimate of $3.33, and projected revenue growth of -1.5% to +0.5% year-over-year. Following the earnings report, Crocs' stock dropped 6.1% in pre-market trading.