Crocs stock dives on cut to 2022 forecast
BROOMFIELD — Iconic casual footwear brand Crocs Inc. (Nasdaq: CROX) posted record sales in the second quarter of 2022, but the company’s stock price fell sharply in early trading Thursday as it adjusted down earnings-per-share guidance for the full fiscal year.
Sales for the most recent quarter were $964.6 million, up 50.5% year over year.
Adjusted diluted earnings per share increased 45.3% to $3.24 in the second quarter compared to $2.23 in 2021.
Both earnings and revenue topped consensus Wall Street predictions.
“I am very proud of our second quarter results,” said CEO Andrew Rees in a prepared statement. “I am particularly excited by…
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