Yeti raises full-year EPS outlook after Q2 earnings beat
Outdoor gear maker lifts annual earnings per share forecast following stronger-than-expected second-quarter results.
Yeti Holdings Inc. raised its full-year earnings per share outlook on Tuesday after reporting second-quarter results that surpassed analysts’ estimates.
The Austin, Texas-based company now expects adjusted earnings per share for the full year to range between $2.10 and $2.20, up from its prior guidance of $1.90 to $2.00. The upward revision follows a Q2 adjusted EPS of $0.52, which exceeded the consensus estimate of $0.48, according to Refinitiv data.
Net sales for the quarter increased 11.3% year-over-year to $335.4 million, driven by growth in the company’s core cooler and beverageware segments. Gross margin expanded to 44.2% from 42.1% in the same period last year, reflecting improved product mix and operational efficiencies.
Chief Executive Officer Matt Reintjes attributed the outperformance to strong demand across retail and direct-to-consumer channels, as well as successful product launches. The company also reaffirmed its full-year net sales guidance of $1.45 billion to $1.50 billion.
Shares of Yeti were up 3.8% in after-hours trading following the announcement.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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