Crocs shares surged about 15% in premarket trading Thursday after the footwear maker reported fourth-quarter earnings that surpassed analyst estimates. The company posted earnings per share of $2.29, well above the $1.91 consensus estimate, with revenue of $958 million.

While revenue declined 4.2% on a constant currency basis, it still exceeded analyst expectations of $916.09 million. Direct-to-consumer sales rose 3.6% on a constant currency basis, though wholesale revenue fell 15.5%. The company's adjusted gross margin contracted 320 basis points to 54.7%, down from 57.9% a year earlier.

Crocs issued a notably stronger-than-expected profit outlook for fiscal 2026, projecting EPS in the range of $12.88 to $13.35, compared to the consensus forecast of $11.92. The company anticipates revenue to be down around 1% to up slightly versus full-year 2025, based on February 9, 2026 currency rates. Crocs also expects non-GAAP adjustments of roughly $25 million, primarily tied to supply chain optimization and cost-saving initiatives.