10:56 AM EDT, 10/29/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Crocs ( CROX ) shares fell over 17% in recent Tuesday trading after it issued a lower-than-expected Q4 adjusted earnings outlook.

The company reported Q3 adjusted earnings of $3.60 per diluted share, up from $3.25 a year earlier.

Analysts polled by Capital IQ expected $3.11.

Revenue for the quarter ended Sept. 30 was $1.06 billion, up from $1.05 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.05 billion.

For Q4, Crocs ( CROX ) expects adjusted earnings of $2.20 to $2.28 per diluted share. Analysts polled by Capital IQ expect $2.73.

The footwear company said it now expects adjusted earnings of $12.82 to $12.90 per diluted share in 2024, compared with its earlier guidance of $12.45 to $12.90. Analysts surveyed by Capital IQ expect $12.85.

Price: 114.38, Change: -23.67, Percent Change: -17.15