Crocs stock rises as company lifts its profit outlook


Crocs Inc. CROX, -6.46% shares rose 6.2% in premarket trades Thursday after the footwear maker beat Wall Street’s third-quarter earnings target and said it expects to generate between $9.95 a share and $10.30 a share in adjusted 2022 net income, compared to the analyst estimate of $10.06 a share. Crocs said its third-quarter profit rose to $169.35 million, or $2.72 a share, from $153.49 million, or $2.42 a share, in the year-ago quarter. Third-quarter adjusted profit totaled $2.97 a share. Revenue increased to $985.1 million from $625.92 million. The company was expected to report an adjusted third-quarter profit of $2.16 a share on revenue of $899.8 million, according to a FactSet survey.

This article was originally published by Read the original article here.

Previous articleThe Moneyist: ‘The bank has paid itself $18,000 in monthly fees’: After six months, my late father’s trust has not been distributed. What can I do?
Next articleTwo-year yield reaches highest level since 2007 after Powell’s comments


Please enter your comment!
Please enter your name here