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Earnings analysis · 10-Q

CROX earnings analysis

Filed April 30, 2026 · Our reading of the company's report

The latest report

Crocs, Inc. reported Q1 2026 revenues of $921 million, exceeding estimates, but diluted EPS of $2.71 fell short of the $2.78 estimate. The company raised its full-year guidance based on strong product demand and…

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Crocs, Inc. reported Q1 2026 revenues of $921 million, exceeding estimates, but diluted EPS of $2.71 fell short of the $2.78 estimate. The company raised its full-year guidance based on strong product demand and performance across its brands.

Read the original on SEC.gov

Gross and operating margin

How much of each revenue dollar the business keeps.

62% Gross margin Operating margin Jul 2023 Apr 2026

One point per quarterly or annual filing. Both margins are shares of that report's revenue.

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $41 Operating expenses $40 Left as operating profit $19

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

How we read each report

Our analysis across the last few reports.

Read as bullish Read as bearish Jul 2023 Apr 2026

Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.

Reported figures

Earnings per share
$2.71

What stood out

  • Revenue Exceeds Estimates

    Q1 2026 revenue was $921 million, surpassing the estimated $901.6 million by 2.2%.

  • Gross Margin Improvement

    Gross margin improved slightly to 58.9%, up from 57.8% in the prior quarter.

  • Consumer Demand Strength

    Management noted strong consumer demand in direct-to-consumer channels contributing to overall growth.

  • Segment Growth in DTC

    Revenue growth was driven by the Direct-to-Consumer segment, reflecting increased e-commerce sales.

  • Raised Guidance for 2026

    Company raised full-year revenue and EPS guidance due to Q1 performance.

  • Cash Flow Improvement

    Reported free cash flow of $150 million, a significant turnaround from the prior quarter's -$83 million.

What to watch

  • Decrease in Operating Income

    Operating income dropped to 19.1%, down from 20.8% in the prior quarter.

  • Currency Exchange Risk

    A hypothetical 1% increase in USD value would decrease revenues by $4.6 million.

  • Interest Rate Risk

    Variable interest rates on $1.4 billion of borrowings pose a risk; a 1% hike could increase interest expense by $6.6 million.

Management's outlook

Full-year revenue and EPS guidance raised based on robust demand; specific numbers not disclosed.

Earlier filings 4

10-K · February 12, 2026

Crocs’ 2025 filing emphasizes a two‑brand strategy (Crocs Brand and HEYDUDE) with priorities to “ignite our icons,” expand occasions and digital/DTC channels, and drive market share in six Tier 1 markets. The company…

10-Q · August 7, 2025

Crocs reported Q2 revenue of $1,149,373,000, up from $1,111,502,000 in Q2 2024, but recorded $738,115,000 of non‑cash asset impairments (HEYDUDE trademark $430,000,000 and HEYDUDE goodwill $307,000,000) that drove an…

10-Q · May 8, 2025

Crocs reported Q1 2025 revenues of $937,333 and diluted EPS of $2.83, roughly flat versus Q1 2024 revenue of $938,633 while EPS rose from $2.50. Gross profit improved to $541,549 (57.8% margin) and foreign currency…

10-K · February 13, 2025

Crocs positions itself to grow by ‘igniting its icons’, expanding market share in six Tier 1 markets, and broadening wearing occasions across the Crocs and HEYDUDE brands. The 10-K highlights rising international mix…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.