Crocs stock rises as company lifts its profit outlook

Crocs Inc.
CROX,
-6.46%
shares rose 6.2% in premarket trades Thursday after the footwear maker beat Wall Street’s third-quarter earnings target and said it expects to generate between $9.95 a share and $10.30 a share in adjusted 2022 net income, compared to the analyst estimate of $10.06 a share. Crocs said its third-quarter profit rose to $169.35 million, or $2.72 a share, from $153.49 million, or $2.42 a share, in the year-ago quarter. Third-quarter adjusted profit totaled $2.97 a share. Revenue increased to $985.1 million from $625.92 million. The company was expected to report an adjusted third-quarter profit of $2.16 a share on revenue of $899.8 million, according to a FactSet survey.