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Here's Why Crocs (CROX) is Poised for Earnings Beat in Q1
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Crocs, Inc. (CROX - Free Report) is expected to register increases in the top and bottom lines when it reports first-quarter 2023 numbers on Apr 27, before market open.
The Zacks Consensus Estimate for first-quarter earnings per share has moved up 0.9% in the past seven days to $2.16 per share. Also, the consensus estimate suggests a rise of 5.4% from the year-ago period’s reported number. The Zacks Consensus Estimate for revenues is pegged at $853 million, suggesting an improvement of 29.2% from the prior-year reported figure.
We expect the company’s first-quarter total revenues to rise 29.1% year over year to $853 million and the bottom line to grow 5.2% to $2.16 per share.
The Broomfield, CO-based company has a trailing four-quarter earnings surprise of 21.6%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 21.8%.
Crocs has been gaining from robust demand in the Crocs and HEYDUDE brands, as well as continued strength in clogs, sandals and Jibbitz categories. The company’s acquired HEYDUDE (which specializes in casual, comfortable and lightweight products) is expected to have worked in its favor in the to-be-reported quarter.
Its brand strength, new products, refined user experience and marketing activities have been significant growth drivers. Increased focus on the Crocs mobile app and global social platforms aided digital sales. Gains from strategic collaborations, influencer campaigns, and digital and social marketing efforts are expected to have been upsides.
On its last reported quarter’s earnings call, management expected first-quarter 2023 revenues to grow 27-30% from the prior-year quarter’s reported figure of $660.1 million. Adjusted earnings were forecast to be $2.06-$2.19 per share and the adjusted operating margin was anticipated between 24% and 25%.
However, Crocs has been reeling under high costs related to expansion and duplicate rent costs for its distribution centers. Also, costs related to the HEYDUDE acquisition are likely to have been concerning.
What Does the Zacks Model Unveil?
Our proven model conclusively predicts an earnings beat for Crocs this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Crocs currently has a Zacks Rank #2 and an Earnings ESP of +2.87%.
Other Stocks Poised to Beat Earnings Estimates
Here are some other companies that you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat:
Wynn Resorts (WYNN - Free Report) currently has an Earnings ESP of +111.38% and a Zacks Rank #2. WYNN is likely to register bottom and top-line growth when it reports first-quarter fiscal 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.3 billion, suggesting 31.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Wynn Resorts’ fiscal first-quarter earnings is pegged at a loss of 18 cents, suggesting 85.1% growth from a loss of $1.21 reported in the year-ago quarter. The consensus mark has narrowed by 2 cents in the past seven days.
Marriott International (MAR - Free Report) currently has an Earnings ESP of +3.04% and a Zacks Rank #2. MAR is likely to register top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $5.3 billion, suggesting 25.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Marriott International’s fiscal first-quarter earnings is pegged at $1.85, suggesting 48% growth from the $1.25 reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.
Hyatt Hotels (H - Free Report) currently has an Earnings ESP of +56.57% and a Zacks Rank #3. LVS is likely to register bottom and top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.6 billion, suggesting 24.8% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hyatt Hotels’ fiscal first-quarter earnings is pegged at 47 cents, suggesting a 242.4% improvement from a loss of 33 cents reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.
Image: Bigstock
Here's Why Crocs (CROX) is Poised for Earnings Beat in Q1
Crocs, Inc. (CROX - Free Report) is expected to register increases in the top and bottom lines when it reports first-quarter 2023 numbers on Apr 27, before market open.
The Zacks Consensus Estimate for first-quarter earnings per share has moved up 0.9% in the past seven days to $2.16 per share. Also, the consensus estimate suggests a rise of 5.4% from the year-ago period’s reported number. The Zacks Consensus Estimate for revenues is pegged at $853 million, suggesting an improvement of 29.2% from the prior-year reported figure.
We expect the company’s first-quarter total revenues to rise 29.1% year over year to $853 million and the bottom line to grow 5.2% to $2.16 per share.
The Broomfield, CO-based company has a trailing four-quarter earnings surprise of 21.6%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 21.8%.
Crocs, Inc. Price and EPS Surprise
Crocs, Inc. price-eps-surprise | Crocs, Inc. Quote
Key Factors to Note
Crocs has been gaining from robust demand in the Crocs and HEYDUDE brands, as well as continued strength in clogs, sandals and Jibbitz categories. The company’s acquired HEYDUDE (which specializes in casual, comfortable and lightweight products) is expected to have worked in its favor in the to-be-reported quarter.
Its brand strength, new products, refined user experience and marketing activities have been significant growth drivers. Increased focus on the Crocs mobile app and global social platforms aided digital sales. Gains from strategic collaborations, influencer campaigns, and digital and social marketing efforts are expected to have been upsides.
On its last reported quarter’s earnings call, management expected first-quarter 2023 revenues to grow 27-30% from the prior-year quarter’s reported figure of $660.1 million. Adjusted earnings were forecast to be $2.06-$2.19 per share and the adjusted operating margin was anticipated between 24% and 25%.
However, Crocs has been reeling under high costs related to expansion and duplicate rent costs for its distribution centers. Also, costs related to the HEYDUDE acquisition are likely to have been concerning.
What Does the Zacks Model Unveil?
Our proven model conclusively predicts an earnings beat for Crocs this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Crocs currently has a Zacks Rank #2 and an Earnings ESP of +2.87%.
Other Stocks Poised to Beat Earnings Estimates
Here are some other companies that you may want to consider, as our model shows that these also have the right combination of elements to post an earnings beat:
Wynn Resorts (WYNN - Free Report) currently has an Earnings ESP of +111.38% and a Zacks Rank #2. WYNN is likely to register bottom and top-line growth when it reports first-quarter fiscal 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.3 billion, suggesting 31.6% growth from the figure reported in the prior-year quarter.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Wynn Resorts’ fiscal first-quarter earnings is pegged at a loss of 18 cents, suggesting 85.1% growth from a loss of $1.21 reported in the year-ago quarter. The consensus mark has narrowed by 2 cents in the past seven days.
Marriott International (MAR - Free Report) currently has an Earnings ESP of +3.04% and a Zacks Rank #2. MAR is likely to register top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $5.3 billion, suggesting 25.6% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Marriott International’s fiscal first-quarter earnings is pegged at $1.85, suggesting 48% growth from the $1.25 reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.
Hyatt Hotels (H - Free Report) currently has an Earnings ESP of +56.57% and a Zacks Rank #3. LVS is likely to register bottom and top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.6 billion, suggesting 24.8% growth from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Hyatt Hotels’ fiscal first-quarter earnings is pegged at 47 cents, suggesting a 242.4% improvement from a loss of 33 cents reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.