Why Crocs Shares Are Surging Today

Crocs Inc CROX is trading significantly higher Thursday after the company announced better-than-expected third-quarter financial results and issued guidance. 

Crocs reported quarterly earnings of $2.47 per share, which beat the estimate of $1.88 per share. The company reported quarterly revenue of $625.9 million, which beat the estimate of $610.01 million. 

Related Link: Crocs Shares Jump After Q3 Beat, Solid FY21 Outlook

Crocs expects full-year revenue growth of 62% to 65%. The company expects full-year 2022 revenue growth to exceed 20% compared to 2021.

"Globally, our teams are managing through the supply chain disruptions to mitigate the impact on our business. Despite the temporary disruptions, we expect 2022 revenues to grow over 20% from 2021 fueled by the strength of our brand and consumer demand globally," said Andrew Rees, CEO of Crocs.

Crocs is engaged in the design, development, marketing, distribution and sale of casual lifestyle footwear accessories for men, women and children.

CROX Price Action: Crocs has traded as high as $163.18 and as low as $50.55 over a 52-week period.

The stock was up 7.60% at around $146 at time of publication.

Photo: fdecomite from Flickr.