Crocs Files Q3 2024 10-Q
Ticker: CROX · Form: 10-Q · Filed: Oct 29, 2024 · CIK: 1334036
| Field | Detail |
|---|---|
| Company | Crocs, INC. (CROX) |
| Form Type | 10-Q |
| Filed Date | Oct 29, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Crocs Q3 2024 10-Q filed. Financials look solid.
AI Summary
Crocs, Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024 and provides financial details for the nine months ended September 30, 2024. Key financial data and operational updates are presented for the company's fiscal performance.
Why It Matters
This filing provides investors with the latest financial performance data for Crocs, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- Q3 2024 — Reporting Period (Covers the third quarter of the fiscal year.)
- 2024-09-30 — Period End Date (The date through which financial information is reported.)
- 2024-01-01 to 2024-09-30 — Year-to-Date Period (Financials for the first nine months of 2024.)
Key Players & Entities
- Crocs, Inc. (company) — Filer of the 10-Q
- 20240930 (date) — End of the reporting period
- 20241029 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 29, 2024.
What is the company's fiscal year end?
Crocs, Inc.'s fiscal year ends on December 31.
What is the company's primary business classification?
Crocs, Inc. is classified under RUBBER & PLASTICS FOOTWEAR [3021].
What are the dates for the nine-month period reported?
The nine-month period reported is from January 1, 2024, to September 30, 2024.
Filing Stats: 4,485 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-10-29 14:08:36
Key Financial Figures
- $0.001 — ch registered: Common Stock, par value $0.001 per share CROX The Nasdaq Global Select
Filing Documents
- crox-20240930.htm (10-Q) — 1255KB
- crox-ex311_q3x2024.htm (EX-31.1) — 14KB
- crox-ex312_q3x2024.htm (EX-31.2) — 15KB
- crox-ex32_q3x2024.htm (EX-32) — 9KB
- 0001334036-24-000159.txt ( ) — 6438KB
- crox-20240930.xsd (EX-101.SCH) — 37KB
- crox-20240930_cal.xml (EX-101.CAL) — 71KB
- crox-20240930_def.xml (EX-101.DEF) — 151KB
- crox-20240930_lab.xml (EX-101.LAB) — 520KB
- crox-20240930_pre.xml (EX-101.PRE) — 366KB
- crox-20240930_htm.xml (XML) — 971KB
— 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 6 Notes to Condensed Consolidated Financial Statements 7 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 21 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.
Controls and Procedures
Controls and Procedures 33
— Other Information
PART II — Other Information 34 Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 34 Item 5. Other Information 34 Item 6. Exhibits 35
Signatures
Signatures 36 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 1,062,200 $ 1,045,717 $ 3,112,335 $ 3,002,250 Cost of sales 428,861 464,081 1,275,003 1,322,937 Gross profit 633,339 581,636 1,837,332 1,679,313 Selling, general and administrative expenses 363,510 307,784 1,015,336 852,044 Income from operations 269,829 273,852 821,996 827,269 Foreign currency losses, net ( 332 ) ( 1,770 ) ( 3,928 ) ( 1,622 ) Interest income 1,366 506 2,908 1,225 Interest expense ( 26,203 ) ( 39,207 ) ( 85,927 ) ( 124,907 ) Other income, net 237 24 302 448 Income before income taxes 244,897 233,405 735,351 702,413 Income tax expense 45,096 56,380 154,189 163,433 Net income $ 199,801 $ 177,025 $ 581,162 $ 538,980 Net income per common share: Basic $ 3.38 $ 2.90 $ 9.69 $ 8.74 Diluted $ 3.36 $ 2.87 $ 9.62 $ 8.65 Weighted average common shares outstanding: Basic 59,046 61,143 59,973 61,670 Diluted 59,501 61,615 60,437 62,280 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income $ 199,801 $ 177,025 $ 581,162 $ 538,980 Other comprehensive income (loss), net of tax: Derivatives designated as hedging instruments: Unrealized gains (losses) on derivative instruments ( 429 ) ( 363 ) 265 ( 519 ) Reclassification adjustment for realized (gains) losses on derivative instruments 65 247 ( 361 ) 847 Net increase (decrease) from derivatives designated as hedging instruments ( 364 ) ( 116 ) ( 96 ) 328 Foreign currency translation gains (losses), net 20,741 ( 17,564 ) 2,910 (