CROX - 3 Reasons Crocs Beat Your Favorite Stock This Earnings Season
2024-05-08 11:45:00 ET
One of this week's early winners is Crocs (NASDAQ: CROX) . The maker of footwear that's easier on the feet than it is on the eyes jumped 8% higher on Tuesday after posting better-than-expected results for the first quarter.
It seems Crocs doesn't get the respect it deserves as an investment. Its distinctive yet fashionably polarizing clogs are often the butt of a joke, but its investors seem to be laughing all the way to the bank. The stock is a six-bagger over the past five years, including a 46% surge so far in 2024. Let's take a closer look at why Crocs is taking off after this week's financial update .
Revenue rose 7% to $939 million during the first three months of this year. This may not seem like an applause-worthy showing, but it's worth noting where Crocs' head was at back in February. Crocs was targeting top-line results between a decline of 1.5% and an uptick of 0.5% for the first quarter. It was a beat of 750 basis points over the midpoint of its guidance.
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3 Reasons Crocs Beat Your Favorite Stock This Earnings Season