Crocs Analysts Slash Their Forecasts After Q3 Results
Crocs Analysts Slash Their Forecasts After Q3 Results
"We have sharpened our strategy around HEYDUDE as we work to create higher brand relevance through our product and marketing initiatives," said Andrew Rees, Chief Executive Officer. "HEYDUDE's recent performance and the current operating environment are signaling it will take longer than we had initially planned for the brand to turn a corner."Crocs, Inc. (NASDAQ:CROX) reported third-quarter financial results and lowered its revenue guidance related to the HEYDUDE Brand on Tuesday.
卡駱馳公司 (納斯達克股票代碼:CROX) 在星期二公佈了第三季度財務業績，並下調了與HEYDUDE品牌相關的營業收入預估。
The company reported adjusted earnings per share of $3.60 (+11%), beating the street view of $3.10. Quarterly revenues of $1.062 billion (+2%) beat the analyst consensus of $1.05 billion.
公司報告的調整後每股收益爲3.60美元 (+11%)，超出了街道預期的3.10美元。季度營收爲10.62億美元 (+2%)，超過了分析師共識的10.5億美元。
Crocs Brand revenues increased 7.4% to $858 million, or 7.9% on a constant currency basis. HEYDUDE Brand revenues decreased 17.4% to $204 million.
卡駱馳品牌營收增長了7.4% 至85800萬美元，或者按恒定貨幣計價基準增長了7.9%。HEYDUDE品牌營收下降了17.4% 至20400萬美元。
"We have sharpened our strategy around HEYDUDE as we work to create higher brand relevance through our product and marketing initiatives," said Andrew Rees, Chief Executive Officer. "HEYDUDE's recent performance and the current operating environment are signaling it will take longer than we had initially planned for the brand to turn a corner."
"我們圍繞HEYDUDE加強了我們的策略，努力通過產品和營銷活動創造更高的品牌相關性，" 安德魯·里斯，首席執行官表示。"HEYDUDE最近的表現和當前的運營環境表明，該品牌要扭轉局面的時間將比我們最初計劃的時間更長。"
For the fourth quarter, the company sees adjusted diluted earnings per share of $2.20 to $2.28 versus $2.72 estimate. Revenues are expected to remain flat or increase slightly year over year. The Crocs brand is projected to grow by about 2%, while the HEYDUDE brand is expected to decline by 4% to 6%.
對於第四季度，公司預計調整後稀釋每股收益爲2.20美元至2.28美元，而分析師預期爲2.72美元。預計營收將與去年持平或略有增長。卡駱馳品牌預計增長約2%，而HEYDUDE品牌預計下降4% 至6%。
FY24 revenue growth is expected to be around 3% (the lower end of the previous 3% to 5% guidance), with Crocs brand growth at approximately 8% (prior view: 7% to 9%) and HEYDUDE brand revenue down about 14.5% (worse than the previous expectation of a 10% – 8% decline).
預計FY24的營收增長率約爲3% (低於先前3%至5%的指引下限)，卡駱馳品牌增長約爲8% (先前展望爲7%至9%)，而HEYDUDE品牌營收將下降約14.5% (比先前預期的下降10%至8%更糟)。
Crocs shares fell 0.8% to trade at $110.69 on Wednesday.
週三，卡駱馳股價下跌0.8%，報110.69美元。
These analysts made changes to their price targets on Crocs following earnings announcement.
這些分析師根據公司業績公佈後的情況調整了對卡駱馳的目標股價。
- Baird analyst Jonathan Komp maintained Crocs with an Outperform and lowered the price target from $190 to $180.
- UBS analyst Jay Sole maintained the stock with a Neutral and lowered the price target from $146 to $122.
- Keybanc analyst Ashley Owens maintained Crocs with an Overweight and cut the price target from $155 to $150.
- Raymond James analyst Rick Patel downgraded the rating for Crocs from Outperform to Market Perform.
- Baird分析師Jonathan Komp維持對Crocs的跑贏市場評級，並將目標價從190美元降至180美元。
- UBS分析師Jay Sole維持股票的中立評級，並將目標價從146美元降至122美元。
- Keybanc分析師Ashley Owens維持對Crocs的增持評級，並將目標價從155美元下調至150美元。
- Raymond James分析師Rick Patel將Crocs的評級從跑贏市場下調至市場表現。
Considering buying CROX stock? Here's what analysts think:
考慮購買CROX股票？以下是分析師的觀點：
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