Summer's Nearly Here, and Crocs Is on Fire
Technically speaking, summer in the United States doesn't begin until June 21. But even here in May, plastic-sandals specialist Crocs (NASDAQ: CROX) already looks blazing hot.
In its just-reported earnings, Crocs boasted of tremendous growth in the first quarter of 2022 with sales surging 44% year over year to $660.1 million and adjusted earnings up 38% at $2.05 per share. Business is going so well, in fact, that after crushing analyst predictions for both sales and profits in the quarter, Crocs proceeded to raise its guidance for the rest of this year as well.
Management now expects to make $3.5 billion in sales over the course of 2022 and earn adjusted profits of between $10.05 and $10.65 per share. Not all of Crocs' news was good, however.
Source Fool.com
