Core Insights - Yeti reported revenue of $555.37 million for the quarter ended December 2024, reflecting a year-over-year increase of 6.9% and a slight revenue surprise of +0.23% over the Zacks Consensus Estimate of $554.08 million [1] - The company's EPS for the quarter was $1.00, up from $0.90 in the same quarter last year, resulting in an EPS surprise of +7.53% compared to the consensus estimate of $0.93 [1] Revenue Breakdown - International revenues reached $108.93 million, exceeding the three-analyst average estimate of $106.13 million, with a year-over-year growth of +27.5% [4] - U.S. revenues were reported at $437.61 million, slightly below the average estimate of $452.23 million, showing a modest year-over-year increase of +0.8% [4] Sales by Category - Net sales for Coolers & Equipment were $180.16 million, compared to the average estimate of $183.11 million, marking a year-over-year increase of +9.2% [4] - Drinkware net sales amounted to $358.08 million, slightly below the average estimate of $362.97 million, with a year-over-year growth of +3.5% [4] - Other category sales were reported at $8.30 million, falling short of the estimated $9.58 million, representing a decline of -5.6% year-over-year [4] Sales by Channel - Wholesale channel sales were $177.95 million, below the average estimate of $187.83 million, but reflecting a year-over-year increase of +1.7% [4] - Direct-to-consumer sales reached $368.59 million, slightly above the average estimate of $367.96 million, with a year-over-year growth of +6.9% [4] Stock Performance - Yeti's shares have returned +2.8% over the past month, compared to a +3.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Company Performance - Yeti reported quarterly earnings of $1 per share, exceeding the Zacks Consensus Estimate of $0.93 per share, and up from $0.90 per share a year ago, representing an earnings surprise of 7.53% [1] - The company posted revenues of $555.37 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.23% and increasing from $519.79 million year-over-year [2] - Over the last four quarters, Yeti has consistently surpassed consensus EPS estimates and revenue estimates [2] Future Outlook - The immediate price movement of Yeti's stock will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.38 on revenues of $366.68 million, and for the current fiscal year, it is $2.89 on revenues of $1.97 billion [7] - The estimate revisions trend for Yeti is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Leisure and Recreation Products industry, to which Yeti belongs, is currently ranked in the bottom 30% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can materially affect stock performance [5][8]

Fourth Quarter and Fiscal 2024 Highlights SAFE HARBOR STATEMENT Disclaimer We are not making any representations or warranties, express or implied, with respect to the information (financial, business, legal or otherwise) contained in this presentation. No person has been authorized to give any information other than that contained in this presentation. Forward Looking Statements This presentation, as well as other written or oral communications made from time to time by us, may contain certain "forward-loo ...

Financial Performance - Fourth quarter net sales increased 5% to $546.5 million; adjusted net sales increased 7% to $555.4 million[6][7] - Full year net sales increased 10% to $1,829.9 million; adjusted net sales increased 9% to $1,838.7 million[16] - Fourth quarter EPS decreased 30% to $0.63; adjusted EPS increased 11% to $1.00[14][15] - Full year EPS increased 6% to $2.05; adjusted EPS increased 21% to $2.73[24] - International net sales increased 27% to $108.9 million in the fourth quarter; U.S. net sales increased 1% to $437.6 million[8] - Net sales for the three months ended December 28, 2024, increased to $546.54 million, up 5.2% from $519.79 million for the same period in 2023[47] - Adjusted net sales for the three months ended December 28, 2024, were $555.37 million, an increase from $516.97 million in the same period of 2023[53] - Direct-to-consumer sales for the three months ended December 28, 2024, were $368,588, up 6.9% from $344,859 in the same period last year[62] Profitability Metrics - Gross margin expanded 120 basis points to 58.1% for the full year; adjusted gross margin expanded 170 basis points to 58.6%[19][20] - The company reported a gross margin of 59.7% for the three months ended December 28, 2024, slightly down from 60.6% in the prior year[53] - Operating income for the three months ended December 28, 2024, was $82,504, a decrease of 15.9% compared to $98,152 for the same period in 2023[57] - Adjusted operating income for the twelve months ended December 28, 2024, increased to $309,371, up 17.6% from $262,785 in 2023[57] - The percentage of operating income as a percentage of net sales for the three months ended December 28, 2024, was 15.1%, down from 18.9% in the same period last year[57] Cash Flow and Capital Management - Operating cash flow for the full year was $261.4 million; free cash flow was $219.6 million[4] - The company plans to generate approximately $200 million in free cash flow for Fiscal 2025[34] - Free cash flow for the twelve months ended December 28, 2024, was $219,554, down from $235,270 in the previous year[66] Shareholder Returns - The company announced a $350 million increase to its share repurchase program and completed $200 million in share buybacks during the year[1][25] - YETI's Board of Directors approved a $350 million increase to the Share Repurchase Program, with $450 million remaining available[33] - During Fiscal 2024, YETI repurchased approximately 5.1 million shares of its common stock under accelerated share repurchase agreements totaling $200 million[32] Future Outlook - For Fiscal 2025, YETI expects adjusted sales to increase between 5% and 7%, reflecting an FX headwind of approximately 100 basis points[28] - Adjusted operating income is projected to increase between 5.5% and 7.5%, with an FX headwind of approximately 350 basis points[28] - Adjusted net income per diluted share is anticipated to be between $2.90 and $2.95, reflecting a 6% to 8% increase, impacted by an FX headwind of approximately $0.10[28] - The effective tax rate for Fiscal 2025 is expected to be approximately 24.5%, consistent with the prior year[28] Acquisitions and Investments - The company acquired Mystery Ranch and technology for a unique powered cooler system to support product innovation[4][25] - YETI acquired technology and intellectual property for a powered cooler platform for $32.5 million[34] - Capital expenditures are expected to be between $60 million and $70 million, primarily for technology and new product innovation[34] Balance Sheet Highlights - Total current assets decreased to $826.77 million as of December 28, 2024, from $914.41 million a year earlier[49] - Cash and cash equivalents at the end of the period were $358.80 million, down from $438.96 million at the end of the previous year[51] - Total liabilities decreased to $546.01 million as of December 28, 2024, from $573.58 million in 2023[49] - Stockholders' equity increased to $740.11 million as of December 28, 2024, compared to $723.61 million in the previous year[49] Product Recall Adjustments - The reserve for estimated product recall expenses was adjusted by $9.9 million due to higher than anticipated consumer recall participation rates[30] - The company experienced product recall adjustments totaling $9,938 for the three months ended December 28, 2024[62] Net Income Analysis - Net income for the twelve months ended December 28, 2024, was $175.69 million, compared to $169.89 million in 2023, reflecting a growth of 3.4%[51] - The company reported a net income of $53,154 for the three months ended December 28, 2024, a decrease of 32.4% from $78,593 in the prior year[57] - Adjusted net income for the twelve months ended December 28, 2024, was $233,962, an increase of 18.8% compared to $196,987 in 2023[57] - The adjusted net income per diluted share for the three months ended December 28, 2024, was $1.00, compared to $0.90 in the same period last year[57]

Core Viewpoint - YETI Holdings, Inc. is set to report its fourth-quarter fiscal 2024 results on February 13, with expectations of earnings growth and revenue improvement compared to the previous year [1][2]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for fiscal fourth-quarter earnings is 93 cents per share, reflecting a growth of 3.3% from 90 cents in the same quarter last year [2]. - The consensus revenue estimate is $554.1 million, indicating a year-over-year improvement of 6.6% [2]. Group 2: Product and Market Expansion - YETI's fourth-quarter results are anticipated to benefit from the expansion of its drinkware and cooler product lines, including new launches such as pitchers, flasks, shot glasses, and cooler accessories, which likely performed well during the holiday season [3]. - The company's international business is experiencing growth, particularly in Europe and Australia, driven by increased brand awareness and an expanding retail presence [4]. Group 3: Sales Channel Performance - The revenue estimates for various sales channels are as follows: Direct-to-Consumer (DTC) at $368 million (up 6.7%), wholesale at $188 million (up 7.4%), drinkware at $363 million (up 4.9%), and coolers & equipment at $183 million (up 10.9%) [5]. - While gross margins are expected to remain flat due to freight surcharges and mix shifts, YETI benefits from lower inbound freight costs and product cost optimizations [5]. Group 4: Earnings Prediction Model - The current model does not predict an earnings beat for YETI Holdings, as it has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold) [6].

The market expects Yeti (YETI) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on F ...

As the stock market begins 2025 on choppy trading patterns, investors continue to be hard-pressed to find true value stocks that can surmount a broader market downturn. YETI (NYSE: YETI ), in my view, isWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017 ...

YETI Holdings, Inc. (NYSE: YETI ) is an iconic higher-end brand that focuses on delivering premium products at premium prices. Based on fundamental value criteria that I use to screen for good companies falling within a range ofI've been investing for over 7 years with a focus on long term wealth creation through value growth investing, value investing, and dividend investing. I'm not a financial advisor or financial planner. I do not have a formal background in finance, I have a B.S. in Biology with a conc ...

2024 hasn't been a great year for YETI Holdings (NYSE: YETI ) as the company is down over 24% YTD while the S&P 500 is up nearly 25%.Analyst’s Disclosure: I/we have a beneficial long position in the shares of YETI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking A ...

Financial Data and Key Metrics Changes - Net sales increased by 10% in Q3 2024, reaching $478 million, with growth across all categories, channels, and geographies [17][3] - Gross profit rose by 11% to $278 million, resulting in a gross margin of 58.2%, up from 57.8% in the previous year [20] - Operating income increased by 11% to $79 million, with net income rising by 14% to $60 million, leading to earnings per diluted share of $0.71, an 18% increase year-over-year [21][20] Business Line Data and Key Metrics Changes - Coolers and equipment sales grew by 12% to $193 million, marking the third consecutive quarter of double-digit growth in this category [17] - Drinkware sales increased by 9% to $275 million, supported by product innovation and expansion into barware and tableware [18] - Bags category exceeded expectations, with strong performance from the SideKick, Camino, and Panga product lines [19] Market Data and Key Metrics Changes - International sales grew by 30% to $88 million, driven by strong performance in Europe and Australia [20] - Wholesale sales increased by 14% to $198 million, while direct-to-consumer sales grew by 8% to $281 million [19] - The company expects international growth to remain around 30%, with domestic growth projected in the mid-single digits [22] Company Strategy and Development Direction - The company is focused on expanding brand reach, product diversification, and enhancing its omnichannel approach [4][14] - A significant supply chain initiative aims to reduce reliance on China, with plans to have 50% of drinkware capacity outside China by the end of 2025 [4][14] - The long-term growth strategy includes entering new markets and expanding product categories, particularly in bags and cookware, which represent a combined total addressable market of over $10 billion [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's strength and growth potential, despite a challenging U.S. market [3] - The company is prepared for a shortened holiday shopping season and anticipates intentional consumer buying behavior [3][36] - Management remains optimistic about the long-term opportunities across various geographies and product lines, emphasizing the importance of innovation and execution [14][15] Other Important Information - The company opened its 23rd store in Q3 2024, with plans for a 24th store, contributing to omnichannel performance [11] - The balance sheet remains strong, with $280 million in cash and a focus on strategic acquisitions and share repurchases [21][22] Q&A Session All Questions and Answers Question: How does the international supply chain work with respect to sourcing outside of China? - Any product made in China can be shipped directly to regions like Europe, Canada, and Australia, helping to offset potential cost risks [26] Question: How should SG&A growth be managed in the context of potential gross margin moderation? - The company intends to manage gross and operating margins together, allowing for SG&A investments while still expanding operating margins [28] Question: What are the expectations for the upcoming holiday season? - The company feels well-positioned for the holidays, with strong plans in place and a consistent promotional cadence [36] Question: Can you elaborate on the international business infrastructure and growth potential? - The company has built strong teams in Canada and Australia, with Europe still in the early stages of growth, indicating significant future potential [33] Question: How does the company view product evolution and innovation moving forward? - The company aims to thoughtfully expand its product portfolio, connecting drinkware, food, and cooler categories to enhance consumer relevance [34]