CEO Andrew Rees said the new global trade environment and business and consumer uncertainty have made it challenging to predict how consumers may respond.

Shares of casual footwear maker Crocs, Inc. (CROX) soared 11% on Thursday as the company’s first-quarter earnings topped Street estimates, and investors chose to ignore the withdrawal of the full-year outlook.

Revenue fell marginally to $937.33 million during the quarter compared to the same period last year and topped a Street estimate of $907.92 million. Direct-to-consumer (DTC) revenues grew by 2.3%, while wholesale revenues contracted by 1.6%.

The company reported adjusted earnings per share (EPS) of $3, better than an estimated $2.49. Net income rose to $160.1 million compared to $152.45 million in the same quarter last year.

Crocs also withdrew its full-year 2025 financial outlook, which was provided in February, citing macroeconomic uncertainties stemming from global trade policies. The company said it is not providing a full-year outlook at this time.

CEO Andrew Rees said the new global trade environment and business and consumer uncertainty have made it challenging to predict how consumers may respond.

“Amid this heightened operating backdrop, we are withdrawing our guidance for 2025,” he stated.

Rees added that the current reality presents an opportunity to gain market share, as the firm focuses on what it can control and leans into its competitive advantages.

The company’s Crocs Brand saw revenues rise 2.4% to $762 million. Geographically, North American revenues decreased by 3.8% to $369 million while international revenues increased by 8.9% to $393 million.

Meanwhile, its HEYDUDE brand witnessed a decline in revenue by 9.8% to $176 million.

The company ended the quarter with cash and cash equivalents of $166 million.

Crocs shares have gained over 1% in 2025 but have declined 17% in the past 12 months.

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