Crocs forecasts 2022 revenue growth ahead of expectations

Crocs, Inc. announced it expects 2022 revenues of approximately 3.55 billion dollars, which would represent approximately 53 percent growth compared to 2021.

"2022 was an exceptional year for Crocs, Inc., with strong consumer demand for both the Crocs and Heydude brands driving expected 53 percent revenue growth," said Andrew Rees, the company’s CEO.

"We are also pleased to have made significant progress on deleveraging, as we have reduced borrowings by approximately 500 million dollars since acquiring Heydude in early 2022," added Rees.

With respect to 2022, the company expects fourth quarter revenue growth of approximately 60 percent compared to 2021, full year revenues to grow approximately 53 percent compared to 2021, above recent guidance of approximately 49 percent to 52 percent growth.

Crocs continues to expect a full year non-GAAP operating margin of approximately 27 percent.

With respect to 2023, the company expects revenue growth of 10 percent to 13 percent compared to 2022, resulting in full year revenues of approximately 3.9 billion dollars to 4 billion dollars at current currency rates.