Crocs, Whirlpool report strong Q2 earnings as retail sector reopens

Summary

• Consumer products are in demand as the retail sector reopens.
• Crocs, Inc. (NASDAQ: CROX) sold 29.1 million pairs of shoes worldwide in Q2. Its net income jumped 464% year-over-year.
• Whirlpool Corporation’s (NYSE: WHR) revenue rose by 32% YoY. It has increased its dividend payouts for nine consecutive years.

Crocs, Inc. (NASDAQ: CROX) and Whirlpool Corporation (NYSE: WHR) reported their robust second-quarter earnings on Thursday, July 22. Crocs, Inc.’s stock jumped over 9%, while Whirlpool Corporation’s share fell 1.33% in intraday trading after the quarterly results.

CROX was priced at US$131.35, up 9.48%, at 3:27 pm ET, and WHR stock traded at US$214.36, down 1.33%, at 3:27 pm ET.

Crocs sold 29.1 million pairs of shoes worldwide in the latest quarter compared to 16.3 million pairs in Q2 of 2020. Its geographical revenue contributors are Americas, Asia Pacific, and EMEA, representing 63%, 20%, and 17%, sequentially, in the quarter. Its total revenue was US$640.77 million compared to US$331.55 million in the same quarter the previous year, showing a 93.3% increase year-over-year.

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Its net income grew to US$318.95 million in this quarter from US$56.55 in the June quarter of 2020, showing a growth of 464% year-over-year. CROX’s net income per common share diluted is US$4.93 compared to US$0.83 for the same period the previous year.

The company’s cash and cash equivalent also increased to US$197.85 million compared to US$135.8 million in the December quarter of 2020.

Crocs’ market capitalization is US$8,63 billion, and the P/E ratio is 22.42. The share volume is 5,059,842. 

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Source: Pixabay       

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On the other hand, WHR’s revenue segments are North America, Latin America, Asia, Europe, and Africa. North America is a major contributor to its sales. Its major product categories are laundry appliances, refrigerators & freezers, cooking, and dishwashing appliances.

Its net sales are US$5.32 billion for the June quarter, 2021, compared to US$4.04 billion, recording a 32% growth. The net income is US$581 million against US$30 million for the June quarter a year ago, reflecting an 1837% increase YoY. Its net EPS diluted rose to US$9.15 from US$0.47 a year ago.

WHR’s cash and cash equivalent position is flat with US$2.97 billion in the June quarter, 2021, compared to US$2.92 billion in the December quarter of 2020.

Its Market capitalization is US$13.44 billion, and the P/E ratio is 7.15.

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It has increased its dividends for the last nine consecutive years. It announced to increase the dividend by 12% on common stock to US$1.40 per share from US$1.25 per share in this quarter. Its dividend yield is 2.63%.

Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.