Footwear giant Crocs Inc. (NASDAQ:CROX) shares were trading higher in premarket on Thursday after the first-quarter earnings.

The company reported a first-quarter FY25 revenue decline of 0.14% year-on-year to $937.33 million, beating the analyst consensus estimate of $907.89 million.

Adjusted EPS of $3.00 beat the consensus estimate of $2.48.

Crocs brand revenues grew 2.4% to $762 million, or 4.2%, on a constant currency basis. Direct-to-consumer revenues rose 1.1% to $285 million, while wholesale revenues increased 3.2% to $477 million.

HEYDUDE's total revenues decreased 9.8% to $176 million. Direct-to-consumer revenues grew 8.3% to $65 million, while wholesale revenues fell 17.9% to $111 million.

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Adjusted gross margin improved 180 basis points to 57.8% compared to 56%. Crocs reported an adjusted operating margin of 23.8% in the quarter, lower than 27.1% in the year-ago period.

In the first quarter, Crocs repurchased approximately 0.6 million shares for $61 million at the average share price of $100.23. At quarter-end, approximately $1.3 billion of share repurchase authorization remained available for future repurchases.

"We are incredibly proud of our better-than-expected first-quarter performance despite what has been an increasingly volatile macroeconomic backdrop since the onset of the year," said CEO Andrew Rees.

“While we are pleased by the performance of our overall business in April, the new global trade environment as well as business and consumer uncertainty, has made it challenging to predict how consumers may respond in the future. Amid this heightened operating backdrop, we are withdrawing our guidance for 2025,” Rees added.

As of March 31, the company's cash and cash equivalents were $166 million compared to $159 million in the year-ago period. Inventories were $391 million compared to $392 million.

Outlook: Due to macroeconomic uncertainties stemming from global trade policies, Crocs is withdrawing its full-year 2025 financial outlook, which was provided on February 13, 2025.

Price Action: CROX shares traded higher by 3.13% at $103.92 in premarket at last check Thursday.

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