Footwear maker’s third-quarter results exceed expectations
- Crocs stock down 15.7% after Q4 earnings forecast falls short
- Third-quarter results beat expectations
- Third-quarter net income rose to $177.03 million
- Third-quarter adjusted profit at $3.25 a share
- Revenue rose 6.2% to $1.05 billion
- Fourth-quarter profit expected to be $2.05 to $2.35 a share
Crocs Inc.’s stock plummeted 15.7% in premarket trading after the company issued fourth-quarter earnings projections that fell short of analyst estimates. However, the company’s third-quarter results surpassed expectations, with net income rising to $177.03 million and adjusted profit at $3.25 a share. Additionally, revenue increased by 6.2% to $1.05 billion. Looking ahead, Crocs expects fourth-quarter profit to be between $2.05 and $2.35 a share, which is lower than the consensus estimate of $2.78 a share.
Factuality Level: 8
Factuality Justification: The article provides specific information about Crocs Inc.’s third-quarter results and fourth-quarter earnings projections. It includes actual figures and compares them to analyst estimates. The information provided is factual and based on verifiable data.
Noise Level: 3
Noise Justification: The article provides relevant information about Crocs Inc.’s third-quarter results and fourth-quarter earnings projections. It includes data on net income, adjusted profit, and revenue, as well as the company’s expectations for the future. However, it lacks analysis or insights into the long-term trends or consequences of these results and projections.
Financial Relevance: Yes
Financial Markets Impacted: Crocs Inc. stock
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses Crocs Inc.’s stock performance and earnings projections.
Public Companies: Crocs Inc. (CROX)
Key People:
Reported publicly:
www.marketwatch.com 
www.barrons.com 
