Crocs, Inc. CROX is set to release fourth-quarter 2023 results on Feb 15, before the market opens. Analysts foresee a 1.4% year-over-year revenue growth, with the Zacks Consensus Estimate for revenues at $958.3 million.
The consensus estimate for Q4 earnings per share is down 10.6% year over year, currently at $2.37.
The Broomfield, CO-based company maintained a positive trend with a trailing four-quarter earnings surprise of 17.4%, while in the last quarter, it surpassed estimates by 5.2%.
Key Factors to Note
Crocs is expected to have benefitted from solid consumer demand for its clog and sandal designs, and the acquisition of HEYDUDE. The latter is anticipated to have added to the growth in the footwear business and digital penetration due to its robust online presence.
Last month, the company revealed robust holiday results, achieving market share gains for both the Crocs and HEYDUDE brands. Management’s strong performance has been attributed to a robust holiday season and an increase in operating margin targets for the year.
However, costs related to the HEYDUDE acquisition and distribution and logistics inefficiencies may have impacted the company’s bottom line in the to-be-reported quarter.
What Does the Zacks Model Unveil?
According to the Zacks model, Crocs is poised for an earnings beat this season, with an Earnings ESP of +0.88% and a Zacks Rank of 3.
Other Stocks Poised to Beat Earnings Estimates
Additionally, other companies like lululemon athletica, NIKE, and Planet Fitness are also expected to post an earnings beat based on the Zacks model.
Make sure to keep an eye on the upcoming earnings announcements using the Zacks Earnings Calendar.
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Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
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NIKE, Inc. (NKE) : Free Stock Analysis Report
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