Crocs falls after casual footwear maker expects drop in third-quarter revenue

Shares of casual footwear maker Crocs CROX.O down ~17% at $87.77 premarket

Co expects third-quarter revenue to be down about 9% to 11% compared to a 2% rise reported a year ago; analysts' expected a rise of 0.3%, as per data compiled by LSEG

Sees adjusted operating margin for third quarter of about 18% to 19%, including anticipated negative impact of about 170 basis points from announced and pending tariffs

However, CROX beats quarterly estimates on the back of strong performance in Crocs and HEYDUDE brands

Posts second-quarter revenue of $1.15 billion vs analysts' estimates of $1.14 billion

Logs quarterly adjusted profit of $4.23 per share vs estimates of $4.01 per share

Up to last close, stock down about 4% YTD