The 10-second takeaway
For the quarter ended March 31 (Q1), Crocs beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.
Margins expanded across the board.
Crocs tallied revenue of $271.8 million. The eight analysts polled by S&P Capital IQ foresaw sales of $266.7 million on the same basis. GAAP reported sales were 20% higher than the prior-year quarter's $226.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.32. The six earnings estimates compiled by S&P Capital IQ anticipated $0.26 per share on the same basis. GAAP EPS of $0.31 for Q1 were 29% higher than the prior-year quarter's $0.24 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.3%, 70 basis points better than the prior-year quarter. Operating margin was 15.0%, 150 basis points better than the prior-year quarter. Net margin was 10.4%, 90 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $351.4 million. On the bottom line, the average EPS estimate is $0.64.
Next year's average estimate for revenue is $1.18 billion. The average EPS estimate is $1.41.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 1,638 members out of 2,309 rating the stock outperform, and 671 members rating it underperform. Among 502 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 347 give Crocs a green thumbs-up, and 155 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crocs is outperform, with an average price target of $25.67.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.