Crocs Non-GAAP EPS of $2.92 beats by $0.56, revenue of $996.3M beats by $34.83M

* Crocs press release [https://seekingalpha.com/pr/20285945-crocs-inc-reports-third-quarter-2025-results] (CROX [https://seekingalpha.com/symbol/CROX]): Q3 Non-GAAP EPS of $2.92 beats by $0.56.
* Revenue of $996.3M (-6.0% Y/Y) beats by $34.83M.

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For the fourth quarter of 2025, we expect:

* Revenues to be down approximately 8% compared to the fourth quarter of 2024, at currency rates as of October 27, 2025.

* Crocs Brand to be down approximately 3% compared to fourth quarter 2024.
* HEYDUDE Brand to be down mid-20% approximately compared to fourth quarter 2024.

* Non-GAAP adjustments to be approximately $10 million primarily associated with our cost reduction initiatives.
* Adjusted operating margin to be approximately 15.5%.
* GAAP effective tax rate to be approximately 20% and adjusted effective tax rate to be approximately 16%.
* Adjusted diluted earnings per share to be in the range of $1.82 to $1.92. Adjusted diluted earnings per share guidance does not assume any impact from potential future share repurchases.

Separately, we expect capital expenditures of $70 million to $75 million for full year 2025.

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