Crocs, Inc. (CROX) Earnings
Crocs, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $4.30. CROX has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +14.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $2.78 | $2.99 | +7.6% | $921M | +2.3% |
| Feb 12, 2026 | $1.92 | $2.29 | +19.3% | $958M | +5.6% |
| Oct 30, 2025 | $2.36 | $2.92 | +23.7% | $996M | +3.8% |
| Aug 7, 2025 | $4.01 | $4.23 | +5.5% | $1.1B | +14.0% |
| May 8, 2025 | $2.51 | $3.00 | +19.5% | $937M | -17.6% |
| Feb 13, 2025 | $2.27 | $2.52 | +11.0% | $990M | +3.0% |
| Aug 1, 2024 | $3.56 | $4.01 | +12.6% | $1.1B | +0.9% |
| Feb 15, 2024 | $2.38 | $2.58 | +8.4% | $960M | +0.6% |
| Nov 2, 2023 | $3.10 | $3.25 | +4.8% | $1.0B | +1.4% |
| Jul 27, 2023 | $2.97 | $3.59 | +20.9% | $1.1B | +2.9% |
| Apr 27, 2023 | $2.15 | $2.61 | +21.4% | $884M | -15.6% |
| Feb 16, 2023 | $2.26 | $2.65 | +17.3% | $945M | +0.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Andrew Reese shared financial highlights and brand strategies. Crocs had a strong start with product newness across categories, driving brand relevance, scaling product pillars outside clogs, fueling consumer engagement through marketing, creating consumer experiences, and gaining market share in international markets. Hey Dude's first quarter was ahead of expectations with focus on building community, core business, and stabilizing North American marketplace. Patrick Reagan discussed results, adjusted margins, balance sheet, and full-year 2026 outlook, including revenue guidance by brand, adjusted margin expectations, and second quarter outlook.
Guidance
Based on first quarter results, full-year 2026 enterprise revenue growth is expected to be up 1% to down 1% on a reported basis. Crocs brand revenue is expected to be flat to up 2%, Hey Dude brand revenue is expected to be down approximately 5% to 7%. Adjusted gross margin is slightly up vs last year. Adjusted diluted earnings per share is expected to be in the range of $13.20 to $13.75. Second quarter revenues are expected to be down slightly, Crocs brand revenues up 1% to 3%, Hey Dude revenues down 12% to 14%, adjusted operating margin expected to be approx 24.7%, adjusted diluted earnings per share in range of $4.15 to $4.35.
Segment performance
For the first quarter of 2026, enterprise revenue was $921 million. Crocs brand revenue was $767 million, down 2%; Hey Dude brand revenue was $154 million, down 13%. International revenue for Crocs brand was up 7% on a reported basis. Direct-to-consumer growth was healthy, with Crocs brand up 11% and Hey Dude up 8% despite lower marketing spend. Inventory management was strong with total footwear units down high single digits and inventory turning up more than four times.
Risks & headwinds
Impact from Middle East conflict including revenue reduction from Middle East distributor business, increased raw material and transportation costs due to elevated oil prices, and broader impact to global macro economy. Uncertainties related to tariffs and their impact on margins.
Analyst Q&A
Q: Jonathan asked about Crocs brand sell-through in North America channels and financial outlook for second half.
A: Andrew Reese said consumer response to newness gives confidence, Patrick Reagan said product newness and lapping strategic actions last year give confidence in second half.
Q: Rick Patel asked about impact of higher costs.
A: Andrew Reese said impacts include revenue drag from Middle East, transportation cost increase, and potential macroeconomic slowdown; Patrick Reagan added about supply chain efficiencies.
Q: Adrienne Yee asked about tariffs and inventory.
A: Andrew Reese said inventory in channel is consistent, Patrick Reagan discussed tariff landscape and blended rate.
Q: Kendall Toscano asked about North America DTC growth balance.
A: Andrew Reese said newness and DTC execution give confidence it can continue.
Q: Tom Nickick asked about North America wholesale stabilization.
A: Andrew Reese said North America wholesale is stabilizing as expected.
Q: Brooke Roach asked about input costs with high oil prices.
A: Andrew Reese said transportation is bigger cost pressure, Patrick Reagan said guidance includes contemplated costs.
Q: Anna Andreeva asked about international wholesale and gross margin.
A: Andrew Reese said international business is strong, Patrick Reagan said on gross margin about promotional cadence.
Q: Aubrey Tianello asked about Crocs International guidance and FX.
A: Andrew Reese said international is strong with high single digits growth, FX not meaningfully impacting guidance.
Q: Janine Stitcher asked about SG&A and wholesale supply chain.
A: Andrew Reese said SG&A includes cost savings and reinvestment in DTC, on supply chain about flexibility.
Q: Peter McGoldrick asked about consumer backdrop.
A: Andrew Reese said consumer not discernibly negative, but concerns about Western Europe and SE Asia with energy measures.