Crocs Lowers Its FY23 Outlook: Now Sees Revenue Of $3.905B-$3.94B (Prior $4.00B-$4.06B) Vs. Consensus Of $4.01B; Adjusted EPS Of $11.55-$11.85 (Prior $11.83-$12.22) Vs. Consensus Of $12.09, And Adjusted Operating Margin Of ~27%
Portfolio Pulse from Benzinga Newsdesk
Crocs has lowered its FY23 outlook, now expecting revenue of $3.905B-$3.94B, down from the previous estimate of $4.00B-$4.06B. The adjusted EPS is now expected to be $11.55-$11.85, down from the prior $11.83-$12.22. The company also expects an adjusted operating margin of approximately 27%. The revenue growth for the Crocs brand is expected to be 12%-13%, while the HEYDUDE brand is expected to grow 4%-6%. Capital expenditures are expected to be approximately $125-$135 million.
November 02, 2023 | 11:53 am
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Crocs has lowered its FY23 outlook, which could potentially lead to a decrease in its stock price in the short term.
Crocs has lowered its FY23 outlook, which indicates that the company expects lower revenue and earnings than previously estimated. This could potentially lead to a decrease in its stock price as investors may see this as a sign of weaker future performance.
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