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Crocs (CROX) to Report Q4 Earnings: What's in the Offing?
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Crocs, Inc. (CROX - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 15, before market open. This leading footwear brand company is expected to have witnessed year-over-year revenue growth in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $958.3 million, suggesting a rise of 1.4% from the prior-year reported figure.
The consensus estimate for fourth-quarter earnings per share has moved up 5.3% in the past 30 days to $2.37. The consensus estimate suggests a decline of 10.6% from the year-ago period’s reported number.
The Broomfield, CO-based company has a trailing four-quarter earnings surprise of 17.4%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 5.2%.
Key Factors to Note
Crocs’s fourth-quarter 2023 sales are likely to have benefited from the solid consumer demand for its clog and sandal designs. Additionally, the acquisition of HEYDUDE, a privately owned brand specializing in lightweight and casual shoes and sandals for men, women and children, is expected to have contributed to growth in the footwear business in the to-be-reported quarter. The HEYDUDE brand is also likely to have diversified Crocs’ brand portfolio and added to its digital penetration, driven by its strong online presence.
Last month, the company revealed its sturdy holiday results. The strong performance can be attributed to a robust holiday season with market share gains for both the Crocs and HEYDUDE brands. Fourth-quarter revenues are poised to have surpassed the initial guidance, leading to an increased operating margin target for the year. Management expects fourth-quarter revenues to increase more than 1% year over year. The Crocs Brand is likely to increase by almost 10%.
However, Crocs has been facing some challenges related to the current economic environment. Costs related to the HEYDUDE acquisition are likely to have been concerning. Also, distribution and logistics inefficiencies have been acting as headwinds. These factors are likely to have hurt the company’s bottom-line results in the to-be-reported quarter.
What Does the Zacks Model Unveil?
Our proven model 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 before they’re reported with our Earnings ESP Filter.
Crocs currently has an Earnings ESP of +0.88% and a Zacks Rank of 3.
Other Stocks Poised to Beat Earnings Estimates
Here are some other companies, which according to our model, have the right combination of elements to post an earnings beat:
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +0.29% and a Zacks Rank of 2. LULU is likely to have registered top and bottom-line growth in its fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.2 billion, suggesting 15% growth from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LULU’s fourth-quarter earnings is pegged at $4.99 a share, up 13.4% from the year-ago quarter. The consensus mark has risen a penny in the past seven days.
NIKE (NKE - Free Report) currently has an Earnings ESP of +5.39% and a Zacks Rank of 3. NKE is likely to have registered top and bottom-line decline in its third-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $12.4 billion, suggesting 0.3% drop from the figure reported in the year-ago quarter.
The consensus estimate for NIKE’s third-quarter earnings is pegged at 72 cents per share, suggesting an 8.9% decline from the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Planet Fitness (PLNT - Free Report) currently has an Earnings ESP of +2.04% and a Zacks Rank of 3. PLNT is likely to have registered top and bottom-line growth in its fourth-quarter 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $283.6 million, suggesting 0.8% growth from the figure reported in the year-ago quarter.
The consensus estimate for Planet Fitness’ fourth-quarter earnings is pegged at 58 cents per share, suggesting 9.4% growth from the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Image: Bigstock
Crocs (CROX) to Report Q4 Earnings: What's in the Offing?
Crocs, Inc. (CROX - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 15, before market open. This leading footwear brand company is expected to have witnessed year-over-year revenue growth in the to-be-reported quarter. The Zacks Consensus Estimate for revenues is pegged at $958.3 million, suggesting a rise of 1.4% from the prior-year reported figure.
The consensus estimate for fourth-quarter earnings per share has moved up 5.3% in the past 30 days to $2.37. The consensus estimate suggests a decline of 10.6% from the year-ago period’s reported number.
The Broomfield, CO-based company has a trailing four-quarter earnings surprise of 17.4%, on average. In the last reported quarter, the company’s bottom line surpassed the Zacks Consensus Estimate by 5.2%.
Key Factors to Note
Crocs’s fourth-quarter 2023 sales are likely to have benefited from the solid consumer demand for its clog and sandal designs. Additionally, the acquisition of HEYDUDE, a privately owned brand specializing in lightweight and casual shoes and sandals for men, women and children, is expected to have contributed to growth in the footwear business in the to-be-reported quarter. The HEYDUDE brand is also likely to have diversified Crocs’ brand portfolio and added to its digital penetration, driven by its strong online presence.
Last month, the company revealed its sturdy holiday results. The strong performance can be attributed to a robust holiday season with market share gains for both the Crocs and HEYDUDE brands. Fourth-quarter revenues are poised to have surpassed the initial guidance, leading to an increased operating margin target for the year. Management expects fourth-quarter revenues to increase more than 1% year over year. The Crocs Brand is likely to increase by almost 10%.
However, Crocs has been facing some challenges related to the current economic environment. Costs related to the HEYDUDE acquisition are likely to have been concerning. Also, distribution and logistics inefficiencies have been acting as headwinds. These factors are likely to have hurt the company’s bottom-line results in the to-be-reported quarter.
What Does the Zacks Model Unveil?
Our proven model 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 before they’re reported with our Earnings ESP Filter.
Crocs, Inc. Price and EPS Surprise
Crocs, Inc. price-eps-surprise | Crocs, Inc. Quote
Crocs currently has an Earnings ESP of +0.88% and a Zacks Rank of 3.
Other Stocks Poised to Beat Earnings Estimates
Here are some other companies, which according to our model, have the right combination of elements to post an earnings beat:
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +0.29% and a Zacks Rank of 2. LULU is likely to have registered top and bottom-line growth in its fourth-quarter fiscal 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $3.2 billion, suggesting 15% growth from the figure reported in the year-ago quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for LULU’s fourth-quarter earnings is pegged at $4.99 a share, up 13.4% from the year-ago quarter. The consensus mark has risen a penny in the past seven days.
NIKE (NKE - Free Report) currently has an Earnings ESP of +5.39% and a Zacks Rank of 3. NKE is likely to have registered top and bottom-line decline in its third-quarter fiscal 2024 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $12.4 billion, suggesting 0.3% drop from the figure reported in the year-ago quarter.
The consensus estimate for NIKE’s third-quarter earnings is pegged at 72 cents per share, suggesting an 8.9% decline from the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Planet Fitness (PLNT - Free Report) currently has an Earnings ESP of +2.04% and a Zacks Rank of 3. PLNT is likely to have registered top and bottom-line growth in its fourth-quarter 2023 results. The Zacks Consensus Estimate for its quarterly revenues is pegged at $283.6 million, suggesting 0.8% growth from the figure reported in the year-ago quarter.
The consensus estimate for Planet Fitness’ fourth-quarter earnings is pegged at 58 cents per share, suggesting 9.4% growth from the year-ago quarter. The consensus mark has moved up by a penny in the past 30 days.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.