🔹 Q4 Adj. EPS: $2.52 (Est. $2.22) 🟢
🔹 Q4 Revenue: $990M (Est. $961.92M) 🟢; UP +3.1% YoY
🔸 Upsized Buyback by $1B
FY25 Guidance:
🔹 Adj. EPS: $12.70–$13.15 (Est. $12.74) 🟢
🔹 Revenue Growth: +2% to +2.5% YoY (Includes $62M negative FX impact)
🔹 Crocs Brand Revenue: +4.5% YoY
🔹 HEYDUDE Brand Revenue: DOWN -7% to -9% YoY
🔹 Adj. Operating Margin: ~24%
Q1'25 Outlook:
🔹 Revenue: DOWN -3.5% YoY (Includes $19M negative FX impact)
🔹 Crocs Brand Revenue: FLAT to DOWN -1% YoY
🔹 HEYDUDE Brand Revenue: DOWN -14% to -16% YoY
🔹 Adj. EPS: $2.38–$2.52
🔹 Adj. Operating Margin: ~21.5%
Q4 Segment Performance:
Crocs Brand:
🔹 Revenue: $762M (Est. $747.10M) 🟢; UP +4% YoY
🔹 DTC Revenue: $447M; UP +5% YoY
🔹 Wholesale Revenue: $315M; UP +2.7% YoY
HEYDUDE Brand:
🔹 Revenue: $228M (Est. $214M) 🟢; FLAT YoY
🔹 DTC Revenue: $133M; UP +7.2% YoY
🔹 Wholesale Revenue: $95M; DOWN -8.6% YoY
Geographic Performance:
🔹 North America: $471M; FLAT YoY
🔹 International: $291M; UP +11.5% YoY
FY24 Segment Performance:
Crocs Brand:
🔹 Revenue: $3.28B; UP +8.8% YoY
🔹 DTC Revenue: $1.67B; UP +9.9% YoY
🔹 Wholesale Revenue: $1.61B; UP +7.6% YoY
HEYDUDE Brand:
🔹 Revenue: $824M; DOWN -13.2% YoY
🔹 DTC Revenue: $368M; DOWN -3.9% YoY
🔹 Wholesale Revenue: $456M; DOWN -19.5% YoY
Other Key Metrics:
🔹 Q4 Gross Margin: 57.9% (Est. 56.32%) 🟢; UP +220 bps YoY
🔹 Q4 Adj. SG&A: $373M; 37.7% of revenue, UP +23% YoY
🔹 FY24 Operating Margin: 24.9% (Adj.: 25.6%)
🔹 Operating Cash Flow: $990M in FY24
🔹 Debt Repayment: $323M in FY24
🔹 Share Repurchases: $551M in FY24
Shareholder Updates:
🔸 New Share Repurchase Authorization: Upsized by $1B, totaling $1.3B available
Management Commentary:
🔸 CEO Andrew Rees: "We delivered another record year with strong revenue and earnings growth, particularly from Crocs Brand. HEYDUDE's direct-to-consumer growth is encouraging, and we remain focused on reigniting momentum."