Overview

• Casual footwear company's Q4 revenue rose, beating analyst expectations

• Adjusted EPS for Q4 beat analyst expectations

• Company repurchased 2.2 mln shares for $180 mln during Q4

Outlook

• Crocs expects Q1 2026 revenue to decline 3.5% to 5.5% compared to Q1 2025

• Company anticipates full-year 2026 revenue to be down 1% to up slightly from 2025

• Crocs projects adjusted EPS for Q1 2026 between $2.67 and $2.77

Result Drivers

• WHOLESALE DECLINE - Wholesale revenues fell 14.5% in Q4, contributing to overall revenue decline

• DTC GROWTH - Direct-to-consumer revenues increased 4.7% in Q4, offsetting some wholesale declines

• HEYDUDE REVENUE DROP - HEYDUDE brand revenues decreased 16.9%, impacting overall results

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Beat	$958 mln	$922.33 mln (14 Analysts)
Q4 Adjusted EPS	Beat	$2.29	$1.90 (14 Analysts)
Q4 EPS		$2.03
Q4 Adjusted Gross Margin		54.70%
Q4 Adjusted Income From Operations		$161 mln

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 8 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the footwear peer group is "buy."

• Wall Street's median 12-month price target for Crocs Inc is $90.00, about 8.8% above its February 11 closing price of $82.73

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nPn51RQ13a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.