Crocs Raises FY22 Revenue Outlook; Sees 53% Growth

Crocs Inc CROX has raised its fiscal year 2022 revenue outlook from 3.455 billion - $3.520 billion to $3.55 billion, against the consensus of $3.51 billion.
The guidance represents approximately 53% growth compared to 2021.
The company sees Q4 FY22 revenue growth of about 60% compared to 2021.
Crocs continues to expect an FY22 non-GAAP operating margin of approximately 27%.
"We are also pleased to have made significant progress on deleveraging, as we have reduced borrowings by approximately $500 million since acquiring HEYDUDE in early 2022," said CEO Andrew Rees.
For FY23, the company expects revenue growth of 10% to 13% compared to 2022 to $3.9 billion - $4.0 billion (consensus $3.92 billion) at current currency rates.
Price Action: CROX shares are trading higher by 0.50% at $114.00 in premarket on the last check Tuesday.
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