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Crocs, Inc. Reports Record Second Quarter 2026 Results; Raises Full-Year 2026 Outlook

CROX
  • Crocs Inc. raised its full-year 2026 financial outlook for both revenue & earnings per share following record second-quarter results.
  • The Crocs Brand generated $1.0 billion in quarterly revenue for the first time ever, representing a 4.3% year-over-year increase.
  • Consolidated revenues for Q2 2026 reached $1.179 billion, a 2.6% increase driven by 12.0% growth in direct-to-consumer sales offset by a 7.2% decline in wholesale revenue.
  • Adjusted diluted earnings per share for Q2 2026 were $4.55, up 7.6% from the prior year, while GAAP EPS was $4.13 due to a prior-year loss driven by asset impairments.
  • The Board of Directors increased share repurchase authorization by $1.5 billion to a total of approximately $2.0 billion.
  • During Q2 2026, the company repurchased approximately 2.3 million shares for $251 million & repaid $31 million in debt.
  • HEYDUDE Brand revenues decreased 5.7% to $179 million, with wholesale channels declining 17.2% while direct-to-consumer sales rose 7.2%.
  • Full-year 2026 revenue guidance was adjusted to an increase of 1% to 2%, with Crocs Brand expected to grow 2% to 3% & HEYDUDE expected to decline 2% to 4%.
  • Adjusted operating margin for the full year is expected to expand modestly to approximately 22.3%, with adjusted diluted EPS guidance raised to a range of $13.70 to $14.00.
  • Non-GAAP adjustments for the full year are estimated at approximately $25 million, primarily related to cost reduction initiatives.
  • Cash & cash equivalents stood at $170 million at the end of Q2 2026, down from $201 million in the prior year period.
  • Total borrowings decreased to $1.31 billion at quarter-end from $1.38 billion in the same period last year.
  • Capital expenditures for the six months ended June 30, 2026, were $39 million, with full-year guidance set between $70 million & $80 million.
  • The Crocs Brand saw international revenue growth of 7.8% in Q2 2026, while North American revenue grew 0.4%.
  • A conference call to discuss the second-quarter results was scheduled for July 30, 2026, at 8:30 am ET.