Crocs Inc. (NASDAQ: CROX) shares surged more than 21% intra-day Thursday after the footwear manufacturer delivered stronger-than-expected fourth-quarter results and issued an upbeat earnings outlook for 2026.

The company projected 2026 adjusted EPS between $12.88 and $13.35, well above analyst expectations of $11.89. Revenue for 2026 is forecast to range from a 1% decline to slight growth, compared with analyst projections for a 0.8% decrease.

Crocs exceeded fourth-quarter revenue and profit estimates, supported by robust holiday demand for its core footwear offerings in international direct-to-consumer channels. Both the Crocs brand and the HEYDUDE division contributed to the revenue outperformance.

Chief Executive Officer Andrew Rees outlined plans to achieve $100 million in cost savings by 2026. The company also expects adjusted operating margin to expand modestly from 22.3% in fiscal 2025.