👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

YETI beats Q3 estimates, raises full-year outlook

EditorRachael Rajan
Published 2024-11-07, 08:50 a/m
YETI
-

AUSTIN, Texas - YETI Holdings , Inc. (NYSE:YETI) reported better-than-expected third quarter results and raised its full-year earnings guidance, sending shares up 1.7% in early trading.

The outdoor products company posted adjusted earnings per share of $0.71, surpassing analyst estimates of $0.67. Revenue grew 10% year-over-year to $478.4 million, also topping expectations of $471 million.

YETI saw strong performance across its product portfolio, with Coolers & Equipment sales rising 12% and Drinkware sales increasing 9% compared to the prior year quarter. The company's international business continued to show robust growth, with sales outside the U.S. jumping 30%.

"Our positive momentum continued in the third quarter, with strong performance across our product portfolio and robust growth in our international business," said Matt Reintjes, President and CEO of YETI.

Gross margin held steady at 58.0%, while adjusted operating margin expanded slightly to 16.6%.

Looking ahead, YETI raised its full-year adjusted EPS outlook to approximately $2.65, up from its previous range of $2.61 to $2.65. The company now expects fiscal 2024 sales growth of around 9%, narrowed from its earlier projection of 8-10% growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.