Crocs shares surged nearly 20% in early trading Thursday. The footwear maker reported third-quarter results that beat expectations, showed a return to growth at its HEYDUDE brand and raised its full-year outlook.

The stock rose $23.86, or 19.9%, to $143.55. The gain lifted the Colorado-based company's market value to about $6.9 billion. Crocs shares are up about 45% over the past 52 weeks.

Beat on sales and profit

Crocs reported third-quarter revenue of $1.04 billion, up 4.6% from $996 million a year earlier. Analysts had expected about $1 billion, according to StockStory, citing S&P Global and Visible Alpha data.

Adjusted earnings rose 26% to $3.69 a share, well above the consensus estimate of $3.31. On a reported basis, earnings jumped 67% to $4.52 a share, helped by a $64 million one-time benefit from refunds of tariffs.

"We delivered a strong third quarter with growth across brands, channels and geographies," Chief Executive Andrew Rees said in the earnings release.

International........

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