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Crocs

Crocs (CROX) Q4 2025 Earnings

Reported Feb 12, 2026 at 7:01 AM ET · SEC Source

Q4 25 EPS

$2.29

BEAT +19.67%

Est. $1.91

Q4 25 Revenue

$957.6M

BEAT +4.42%

Est. $917.1M

vs S&P Since Q4 25

+15.1%

BEATING MARKET

CROX +23.8% vs S&P +8.7%

Full Year 2025 Results

FY 25 EPS

$12.51

BEAT +3.06%

Est. $12.14

FY 25 Revenue

$4.04B

BEAT +1.01%

Est. $4.00B

Market Reaction

Did CROX Beat Earnings? Q4 2025 Results

Crocs closed Q4 2025 with a sharper-than-expected earnings beat, delivering adjusted diluted EPS of $2.29 against a consensus estimate of $1.76, a 30.11% positive surprise, even as revenue slipped 3.3% year-over-year to $957.64 million, which still c… Read more Crocs closed Q4 2025 with a sharper-than-expected earnings beat, delivering adjusted diluted EPS of $2.29 against a consensus estimate of $1.76, a 30.11% positive surprise, even as revenue slipped 3.3% year-over-year to $957.64 million, which still cleared the $917.12 million consensus by 4.42%. The headline story remains HEYDUDE's persistent struggles, with the brand's Q4 revenues tumbling 16.9% to $189.26 million on a 40.5% wholesale collapse, while the core Crocs Brand showed resilience through 14.1% international growth. Adjusted gross margin compressed 320 basis points to 54.7% in the quarter, reflecting channel mix and promotional pressures that have weighed on the footwear sector broadly, a dynamic that has also tested rival footwear brands in recent quarters. Management is targeting $100 million in cost savings heading into 2026 to support margin recovery, and guided full-year adjusted EPS of $12.88 to $13.35 despite expecting revenues to be roughly flat to slightly down versus 2025, with HEYDUDE projected to decline a further 9% to 7%.

Key Takeaways

  • • Crocs Brand international revenue growth of 14.1% in Q4, or 11.0% constant currency
  • • DTC channel revenue growth of 4.7% offsetting wholesale decline of 14.5%
  • • Crocs Brand DTC revenue growth of 6.1% in Q4
  • • HEYDUDE wholesale channel decline of 40.5% dragged overall results
  • • Adjusted gross margin compression of 320 basis points to 54.7% in Q4
24/7 Wall St

CROX YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

CROX Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26
24/7 Wall St

CROX Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We ended 2025 on a strong note with a better-than-expected Holiday quarter. For the year, revenue exceeded $4 billion, led by low-double digit international growth for the Crocs Brand. At the same time, we accelerated our strategic actions to strengthen the long-term health of both the Crocs and HEYDUDE brands. Our powerful value creation model drove operating cash flow of approximately $700 million which enabled us to return shareholder value as we repurchased approximately 10% of our shares outstanding, and paid down $128 million of debt.”

— Andrew Rees, Q4 2025 Earnings Press Release

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