Core Viewpoint - YETI Holdings, Inc. is set to report its fourth quarter and fiscal year 2025 financial results on February 19, 2026, before market opening, followed by a conference call to discuss the results [1]. Group 1: Financial Reporting - YETI will announce its financial results for Q4 and fiscal year 2025 on February 19, 2026 [1]. - A conference call will be held at 8:00 a.m. ET on the same day to discuss the financial results [1]. Group 2: Participation Details - Investors and analysts can join the call by dialing 800-717-1738 (international callers: 646-307-1865) about 10 minutes before the call starts [2]. - A live webcast of the conference call will be available on YETI's investor relations website [2]. Group 3: Replay Information - A recorded replay of the call will be accessible shortly after the call and will remain available until March 5, 2026 [3]. - The telephone replay can be accessed by dialing 844-512-2921 (international callers: 412-317-6671) with the access code 1110189 [3]. - A replay of the webcast will be available within two hours after the call and will remain on the website for 90 days [3]. Group 4: Company Overview - YETI Holdings, Inc. is headquartered in Austin, Texas, and specializes in designing, retailing, and distributing innovative outdoor products [4]. - The company offers a range of products including coolers, drinkware, bags, and apparel, catering to various outdoor activities [4]. - YETI has established a strong brand loyalty among outdoor enthusiasts and consumers who value high-quality products [4].

Core Viewpoint - Yeti Holdings' stock has increased by 44% since reporting Q3 2025 earnings, despite a significant decline in gross margins and operating margins, indicating market optimism about the company's future potential [1]. Financial Performance - Yeti's stock is currently trading at approximately $48 per share, nearing levels not seen since December 2023 [1]. - The company reported a gross margin decline from 58.2% to 55.9% and adjusted operating margins at 13.7%, the lowest in years [1]. - Current gross margin stands at 57.79% [2]. Market Dynamics - The decline in gross margin is attributed to tariff impacts on China-sourced goods and a shift in product mix, with higher-margin drinkware sales declining by 4% while lower-margin coolers grew by 12% [5][6]. - Drinkware now constitutes about 54% of sales, down from previous levels, while coolers account for 44% [6]. Supply Chain and Manufacturing - Yeti is reducing its reliance on Chinese manufacturing, projecting that exposure will be less than 5% of cost of goods sold by 2026 [5]. - The company is diversifying its supply chain across countries like Vietnam, the Philippines, and Mexico [5]. Growth Opportunities - Direct-to-consumer sales have increased from 8% to 60% of total revenue over the past decade, providing a scalable platform for growth [8]. - International sales grew by 14% in Q3 2025, now representing about 20% of revenue, with significant growth potential in Asia [9]. Strategic Initiatives - Yeti is targeting new customer segments beyond outdoor enthusiasts, including partnerships in sports and entertainment [10]. - The company has acquired Helimix for $38 million to expand into the sports nutrition market [10]. Competitive Landscape - Competition in the drinkware segment has intensified, with rivals like Stanley gaining market share among younger consumers [11]. - The domestic tumbler category shows signs of saturation, which may prolong pressure on gross margins [11]. Financial Health and Shareholder Returns - Yeti has repurchased $150 million of stock in Q3 2025 and raised its buyback target for the year from $200 million to $300 million, indicating strong cash generation [13]. - The company expects to generate $200 million in free cash flow for 2025 and has a solid balance sheet with approximately $90 million in net cash [14]. Valuation - At around $48 per share, Yeti trades at about 19.5 times management's 2025 earnings and free cash flow expectations, which is considered reasonable given the company's growth potential [15].

Industry Overview - The outdoor industry encompasses recreation, wellness, and lifestyle experiences focused on nature and activities away from home, including outdoor gear, apparel, recreational vehicles, and related services [2] - The industry is experiencing steady demand driven by shifting consumer values towards health, sustainability, and experience-driven living, appealing to various age groups and regions [3] Company Highlights Deckers Outdoor Corp. (DECK) - Deckers Outdoor is experiencing strong momentum, particularly from its HOKA and UGG brands, with HOKA expected to grow in the low-teens percentage range and UGG in the low-to-mid single digits, each projected to exceed $2.5 billion in annual sales [7] - The company anticipates year-over-year increases of 13.1% for HOKA and 4.7% for UGG in fiscal 2026, supported by international expansion and operational efficiency [8] - DECK has an expected revenue growth rate of 7.7% and earnings growth rate of 1.3% for the current year [8] Planet Fitness Inc. (PLNT) - Planet Fitness is benefiting from solid franchise growth, with 35 new club openings in Q3 2025, bringing the total to 2,795 locations [11] - The company focuses on digital transformation to enhance member engagement and operational efficiency, with an expected revenue growth rate of 11.1% and earnings growth rate of 17.1% for the current year [12] Pool Corp. (POOL) - Pool Corp. is likely to benefit from steady maintenance demand and healthy remodeling activity, bolstered by its market-leading position and enhanced digital capabilities through the POOL360 platform [13][14] - The company has an expected revenue growth rate of 3.4% and earnings growth rate of 6.6% for the current year [15] YETI Holdings Inc. (YETI) - YETI designs and markets products for outdoor activities, targeting various categories such as hunting, fishing, and camping [16] - The company has an expected revenue growth rate of 4.7% and earnings growth rate of 14.1% for the current year [17]

Core Viewpoint - YETI Holdings, Inc. will host investor meetings at the 28th Annual ICR Conference in Orlando, FL on January 12, 2026 [1] Company Overview - YETI Holdings, Inc. is headquartered in Austin, Texas and is a global designer, retailer, and distributor of innovative outdoor products [2] - The product range includes coolers, drinkware, bags, and apparel, designed to meet the needs of various outdoor activities [2] - YETI has established a strong following among brand loyalists, including serious outdoor enthusiasts and consumers who value high-quality products [2] - The company is committed to the outdoor and recreation communities, focusing on building superior products for outdoor enjoyment [2]

Core Insights - The FIFA 2026 World Cup is anticipated to attract millions of visitors and boost consumer activity, creating investment opportunities in sectors related to travel, payments, hospitality, and consumer spending [1] Company Analysis Visa (NYSE: V) - Visa is expected to benefit from increased payment volumes due to the World Cup, as global events typically enhance consumer spending [2] - The tri-nation format of the tournament is likely to increase cross-border transactions, with international fans relying on card-based payments for various expenses [2][3] - Visa's historical involvement in handling payments at previous tournaments positions it well to capture increased transaction activity, with cross-border payments yielding high margins [3] YETI Holdings (NYSE: YETI) - YETI is poised to benefit from heightened consumer behavior associated with travel and outdoor events, despite not being a tournament sponsor [5] - The World Cup's spread across 16 host cities is expected to drive demand for YETI's products, such as travel gear and lifestyle accessories [5][6] - YETI's strong brand presence in North America enhances its ability to meet the anticipated demand linked to World Cup activities [7]

Core Insights - The company is recognized for its innovative outdoor products and continues to evolve in the consumer brand space [1] Product Innovation - The strategy of the company is anchored on product innovation, which has been a key focus area [2] - The company is looking to identify next key growth drivers over the next 3 to 5 years, indicating a long-term vision for product development [2]

Summary of YETI (NYSE:YETI) 2025 Conference Call Company Overview - **Company**: YETI Holdings, Inc. - **Industry**: Consumer Products, specifically outdoor and drinkware products - **Conference Date**: December 02, 2025 Key Points Product Innovation and Growth Strategy - YETI has focused on product innovation since its inception in 2006, emphasizing durability, performance, and design [2][3] - The company has diversified its product range, including drinkware, bags, and protective storage cases, with drinkware being a significant growth driver [3][4] - The drinkware segment has evolved since its launch in 2014, with a broadening of use cases leading to increased consumer engagement [3][8] - YETI sees potential in expanding its bag offerings across everyday, travel, and active outdoor categories [4] Market Position and Competitive Differentiation - YETI's competitive differentiation lies in its high-quality products, effective marketing, and community engagement [10][11] - The brand has established partnerships in various sports, including professional women's volleyball and soccer, to enhance its market presence [12][13] Marketing and Advertising Strategy - YETI is shifting its marketing strategy to focus on brand awareness through targeted campaigns during major sporting events [17][18] - The company emphasizes the importance of endemic marketing while dynamically allocating resources based on consumer behavior changes [15][16] International Expansion - Currently, approximately 20% of YETI's sales are from non-U.S. markets, with significant growth potential in Europe, Asia, and Australia [20][22] - The company is focusing on building its e-commerce presence in Europe and has launched operations in Japan, with plans for further expansion in North Asia and China [22][23] Financial Performance and Capital Allocation - YETI increased its share repurchase target for 2025 from $200 million to $300 million, reflecting confidence in its financial position and growth opportunities [29][30] - The company has maintained a strong balance sheet, with a net cash position and consistent free cash flow generation [30] Consumer Sentiment and Market Outlook - YETI is optimistic about consumer engagement despite broader economic uncertainties, focusing on the giftable nature of its products [31][32] - The company views 2025 as a setup year for long-term growth, particularly in drinkware and soft cooler segments [32] Supply Chain and Gross Margin Considerations - YETI is transitioning its supply chain to reduce reliance on China, which has impacted product availability and growth in the short term [46][47] - The company anticipates that gross margins will normalize as supply chain diversification efforts progress [34][35] Use of Technology and AI - YETI is exploring the use of AI in customer service, product development, and marketing to enhance consumer engagement and operational efficiency [43][44] Product Margin Insights - Historically, drinkware has maintained a gross margin approximately 1,000 basis points higher than coolers and equipment, with new product introductions expected to follow similar trends [45] Additional Insights - YETI's marketing strategy is evolving to adapt to changing consumer behaviors, including the rise of digital and marketplace shopping [40][41] - The company is cautious about pricing strategies, aiming for consistency while exploring opportunities for selective price increases [36][39]

Core Viewpoint - YETI Holdings Inc. stock is currently priced at $41.14, reflecting a 0.82% decrease in the current market session, but has seen a significant increase of 32.05% over the past month and a modest rise of 3.94% over the past year, raising questions about its valuation despite underperformance in the current session [1]. Group 1: Stock Performance - The stock price of YETI Holdings is currently at $41.14, down by 0.82% in the current session [1]. - Over the past month, the stock has increased by 32.05% [1]. - In the past year, the stock has risen by 3.94% [1]. Group 2: P/E Ratio Analysis - YETI Holdings has a lower P/E ratio compared to the aggregate P/E of 40.7 for the Leisure Products industry, suggesting potential undervaluation [6]. - A lower P/E ratio may indicate that shareholders do not expect the stock to perform better in the future or that the company is undervalued [5]. - While a low P/E can suggest undervaluation, it may also reflect weak growth prospects or financial instability, necessitating a cautious approach [9][10]. Group 3: Investment Considerations - The P/E ratio is a valuable tool for assessing market performance but should be used alongside other financial metrics and qualitative factors for comprehensive analysis [10].

Core Viewpoint - YETI has faced challenges in 2025, with its stock declining approximately 7%, while the S&P 500 has increased over 13% [1] Company Performance - Despite the stock decline, there is a bullish outlook on YETI's business performance, indicating confidence in its long-term potential [1]

Core Viewpoint - Asian semiconductor stocks experienced significant declines following Nvidia's unexpected drop on Wall Street, despite Nvidia reporting stronger-than-expected results [1] Group 1: Market Reaction - The decline in Asian semiconductor stocks was triggered by Nvidia's performance, indicating a sector-wide pullback [1] - Nvidia's unexpected drop highlights the volatility in the semiconductor market, affecting investor sentiment across the region [1] Group 2: Company Performance - Nvidia posted stronger-than-expected results, yet this did not prevent the subsequent decline in semiconductor stocks [1] - The contrast between Nvidia's performance and the market reaction suggests underlying concerns within the semiconductor sector [1]