From RTTNews:

Crocs, Inc. expects 2023 revenues of $3.95 billion, showing over 11% growth, surpassing initial guidance of 10-11% growth. Fourth quarter revenues are also anticipated to grow over 1% from the prior year. CEO Andrew Rees credits strong free-cash flow generation for paying down $277 million in net debt last quarter, totaling $665 million for the full year. 2024 revenue growth is projected at 3-5%, with non-GAAP operating margins around 25%. The company’s stock has surged 8% in pre-market trade. Crocs will shift to reporting two segments – the Crocs Brand and HEYDUDE Brand – in its 2023 Form 10-K filing. For more financial news, visit rttnews.com. For comments and feedback, click here.



Read more: Crocs Projects 2023 Revenue Growth Slightly Above Guidance; To Exceed Operating Margin Target