Yeti Lifts Earnings Outlook as 2Q Profit, Sales Rise

Dow Jones
Aug 13
 

Yeti Holdings raised its full-year earnings outlook after profit as its sales climbed during the latest quarter.

The company, known for its insulated drinkware, now expects adjusted earnings of $2.94 to $3 a share, up from a prior forecast of $2.83 to $2.89 a share. It reaffirmed its sales outlook, calling for 7% to 8% growth.

Analysts polled by FactSet are looking for adjusted earnings of $2.89 a share on sales of $2.01 billion, marking a 7.6% increase from last year.

The outlook came as Yeti posted a profit of $71.3 million, or 94 cents a share, for its three months ended July 4, compared with $51.2 million, or 61 cents a share, a year earlier.

Stripping out one-time items, earnings were 67 cents a share. Analysts had expected adjusted earnings of 54 cents a share.

Sales climbed 8.5% to $483.9 million, in line with Wall Street models.

"Our results demonstrate broad-based execution across categories, channels and geographies, powered by the Yeti brand and the expanding reach of our product portfolio," Chief Executive Matt Reintjes said.

 
 

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