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Crocs profit misses consensus by 33.8% in Q2

Crocs Inc. said its second-quarter normalized net income was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS decreased 54.3% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.0 million, a decline of 59.3% from $32.1 million in the year-earlier period.

The normalized profit margin declined to 4.5% from 8.5% in the year-earlier period.

Total revenue decreased 8.3% year over year to $345.7 million from $376.9 million, and total operating expenses came to $324.4 million, compared with $325.7 million in the prior-year period.

Reported net income declined 48.4% from the prior-year period to $8.6 million, or 11 cents per share, from $16.7 million, or 19 cents per share.