Crocs, Inc. (NASDAQ:CROX) Q4 2022 Earnings Conference Call February 16, 2023 8:30 AM ET

Company Participants

Cori Lin - Vice President, Corporate Finance

Andrew Rees - Chief Executive Officer

Anne Mehlman - Executive Vice President & Chief Financial Officer

Conference Call Participants

Jonathan Komp - Baird

Tom Nikic - Wedbush Securities

Abbie Zvejnieks - Piper Sandler

Laura Champine - Loop

Sam Poser - Williams Trading

Jim Duffy - Stifel

Mitch Kummetz - Seaport Research

Mauricio Serna - UBS

Aubrey Tianello - BNP Paribas

Operator

Good day, and welcome to the Crocs, Inc. Fourth Quarter and Full Year 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Cori Lin, Vice President, Corporate Finance. Please go ahead.

Cori Lin

Good morning, everyone, and thank you for joining us today for the Crocs Fourth Quarter and Full Year 2022 Earnings Call. Earlier this morning, we announced our latest quarterly and annual results and a copy of the press release may be found on our website at crocs.com.

We would like to remind you that some of the information provided on this call is forward-looking and accordingly is subject to the Safe Harbor provisions of the Federal Securities Laws. These statements include, but are not limited to, statements regarding the acquisition of HEYDUDE and the benefits thereof, Crocs' strategy, plans, objectives, expectations, financial or otherwise and intentions, future financial results and growth potential, anticipated product portfolio, our ability to create and deliver shareholder value and statements regarding potential impacts to our business related to the COVID-19 pandemic.

These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Crocs' is not obligated to update these forward-looking statements to reflect the impact of future events, except as required by applicable law.

We caution you that all forward-looking statements are subject to risks and uncertainties described in the Risk Factors section of our annual report on Form 10-K and our subsequent filings with the SEC. Accordingly, actual results could differ materially from those described on this call.

Please refer to the Crocs Annual Report on Form 10-K as well as other documents filed with the SEC for more information relating to these risk factors. Adjusted gross profit, adjusted gross margin, adjusted selling, general and administrative expenses, adjusted income from operations and operating margin, adjusted income tax benefit and effective tax rate, adjusted basic and diluted earnings per common share are non-GAAP measures. A reconciliation of these amounts to their GAAP counterparts is contained in the press release we issued earlier this morning.