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Q2 25 EPS
$4.23
BEAT +5.26%
Est. $4.02
Q2 25 Revenue
$1.15B
BEAT +0.58%
Est. $1.14B
vs S&P Since Q2 25
+36.6%
BEATING MARKET
CROX +54.7% vs S&P +18.1%
Market Reaction
Did CROX Beat Earnings? Q2 2025 Results
Crocs, Inc. Posted a genuinely constructive second quarter for 2025, beating Wall Street on both the top and bottom lines while navigating a complicated headline story driven by massive noncash write-downs. Adjusted diluted EPS came in at $4.23, clea… Read more Crocs, Inc. Posted a genuinely constructive second quarter for 2025, beating Wall Street on both the top and bottom lines while navigating a complicated headline story driven by massive noncash write-downs. Adjusted diluted EPS came in at $4.23, clearing the $4.02 consensus by 5.26%, while consolidated revenues rose 3.4% year-over-year to $1.15 billion, edging past the $1.14 billion estimate. The standout driver was the Crocs brand itself, where international revenues surged 18.1% to $502.46 million and the company recorded its highest gross profit quarter in history at $708.84 million. HEYDUDE remained a drag, with revenues slipping 3.9% to $189.78 million, and $737 million in noncash brand impairment charges pushed GAAP results deeply into the red. CEO Andrew Rees acknowledged a consumer shift toward athletic footwear as a meaningful headwind, with shares falling sharply following the release. Looking ahead, management guided Q3 revenues to decline 9% to 11% year-over-year, with adjusted operating margin of roughly 18% to 19%, including an estimated 170 basis point tariff headwind.
Key Takeaways
- • Crocs Brand international revenue growth of 18.1% driven by strong wholesale and DTC performance
- • Highest ever gross profit quarter in company history
- • Gross margin expanded 30 basis points to 61.7%
- • Crocs Brand wholesale revenues grew 6.8%
- • HEYDUDE DTC revenues grew 7.6% despite overall brand decline
- • $50 million in cost savings already implemented
CROX YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
CROX Revenue by Segment
With YoY comparisons, source: SEC Filings
CROX Revenue by Geography
With YoY comparisons, source: SEC Filings
“We reported a solid second quarter with both our Crocs and HEYDUDE brands contributing to our performance, while delivering the highest ever gross profit quarter in company history. Our strong cash flow generation enabled us to return shareholder value through $133 million in share repurchases, and $105 million in debt paydown.”
— Andrew Rees, Q2 2025 Earnings Press Release
CROX Earnings Trends
CROX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CROX EPS Trend
Earnings per share: estimate vs actual
CROX Revenue Trend
Quarterly revenue: estimate vs actual
CROX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.77 | $2.99 | +7.78% | $921.5M | +2.29% |
| Q4 25 BEAT FY | $1.91 | $2.29 | +19.67% | $957.6M | +4.42% |
| FY Full Year | $12.14 | $12.51 | +3.06% | $4.04B | +1.01% |
| Q3 25 BEAT | $2.36 | $2.92 | +23.71% | $996.3M | +3.62% |
| Q2 25 BEAT | $4.02 | $4.23 | +5.26% | $1.15B | +0.58% |
| Q1 25 BEAT | $2.49 | $3.00 | +20.56% | $937.3M | +3.24% |