Crocs, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Crocs, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and company information.</b>

AI Summary

Crocs, Inc. (CROX) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Crocs, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal business address is 500 Eldorado Boulevard, Building 5, Broomfield, CO 80021. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023. The SIC code for Crocs, Inc. is 3021 (RUBBER & PLASTICS FOOTWEAR).

Why It Matters

For investors and stakeholders tracking Crocs, Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial results and operational updates for Crocs, Inc. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Crocs, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Crocs' Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing period)
• 2024-05-07 — Filed As Of Date (Date the report was filed)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting quarter)
• 2023-03-31 — Prior Year Quarter End (End of the comparable prior year quarter)

Key Players & Entities

• Crocs, Inc. (company) — Filer name
• Broomfield, CO (location) — Business and mailing address city and state
• 3038487000 (phone_number) — Business phone number
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filing date
• 000-51754 (filing_id) — SEC file number
• 3021 (sic_code) — Standard Industrial Classification

FAQ

Industry Context

Crocs, Inc. operates in the footwear industry, specifically focusing on rubber and plastics footwear.

Regulatory Implications

The filing is a standard 10-Q, which is a quarterly report required by the SEC for public companies to provide updates on their financial condition.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review any disclosures regarding debt facilities and senior notes.
3. Compare Q1 2024 performance against prior periods (Q1 2023, FY 2023) if data becomes available in subsequent sections.

Key Dates

• 2024-03-31: Quarter End Date — Marks the end of the reporting period for the 10-Q.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing for the period ending March 31, 2024. Comparative data from previous periods will be found within the document's financial statements.

Key Financial Figures

• $0.001 — ch registered: Common Stock, par value $0.001 per share CROX The Nasdaq Global Select

Filing Documents

• crox-20240331.htm (10-Q) — 957KB
• crox-ex101pooletransitiona.htm (EX-10.1) — 14KB
• crox-ex102mehlmanofferlett.htm (EX-10.2) — 65KB
• crox-ex311_q1x2024.htm (EX-31.1) — 14KB
• crox-ex312_q1x2024.htm (EX-31.2) — 15KB
• crox-ex32_q1x2024.htm (EX-32) — 9KB
• crocslogo.jpg (GRAPHIC) — 16KB
• image_0.jpg (GRAPHIC) — 5KB
• 0001334036-24-000096.txt (&nbsp;) — 5768KB
• crox-20240331.xsd (EX-101.SCH) — 37KB
• crox-20240331_cal.xml (EX-101.CAL) — 70KB
• crox-20240331_def.xml (EX-101.DEF) — 151KB
• crox-20240331_lab.xml (EX-101.LAB) — 496KB
• crox-20240331_pre.xml (EX-101.PRE) — 354KB
• crox-20240331_htm.xml (XML) — 792KB

— Financial Information

PART I — Financial Information Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed Consolidated Statements of Income 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 29

— Other Information

PART II — Other Information 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 5. Other Information 30 Item 6. Exhibits 31

Signatures

Signatures 32 ii Table of Contents

— Financial Information

PART I — Financial Information

Financial Statements

ITEM 1. Financial Statements CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (in thousands, except per share data) Three Months Ended March 31, 2024 2023 Revenues $ 938,633 $ 884,166 Cost of sales 416,556 407,796 Gross profit 522,077 476,370 Selling, general and administrative expenses 295,648 241,442 Income from operations 226,429 234,928 Foreign currency losses, net ( 2,273 ) ( 403 ) Interest income 416 171 Interest expense ( 30,563 ) ( 42,637 ) Other income (expense), net 20 ( 293 ) Income before income taxes 194,029 191,766 Income tax expense 41,575 42,223 Net income $ 152,454 $ 149,543 Net income per common share: Basic $ 2.52 $ 2.42 Diluted $ 2.50 $ 2.39 Weighted average common shares outstanding: Basic 60,564 61,836 Diluted 61,054 62,629 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (in thousands) Three Months Ended March 31, 2024 2023 Net income $ 152,454 $ 149,543 Other comprehensive income (loss), net of tax: Derivatives designated as hedging instruments: Unrealized gains (losses) on derivative instruments 426 ( 379 ) Reclassification adjustment for realized (gains) losses on derivative instruments ( 170 ) 383 Net increase (decrease) from derivatives designated as hedging instruments 256 4 Foreign currency translation gains (losses), net ( 11,413 ) 3,953 Total comprehensive income, net of tax $ 141,297 $ 153,500 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 2 Table of Contents CROCS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (in thousands, except share and par value amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 159

View Full Filing

View this 10-Q filing on SEC EDGAR