YETI Holdings, Inc. (NYSE:YETI) beat Q1 2024 estimates and raised their full year guidance. However, the stock is still down over 20% YTD while the S&P 500 is up over 14%. Yeti continues to look attractive to me as the company has released some interesting, new products over the last few months and continues to see double-digit revenue growth internationally. Let's dig in the quarter and review the financial results as well as the developments within the company over the last several months. On the Q1 earni ...

YETI Holdings, Inc. (NYSE:YETI) Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET Company Participants Thomas Shaw - Vice President of Investor Relations Matthew Reintjes - President & Chief Executive Officer Michael McMullen - Senior Vice President, Chief Financial Officer & Treasurer Conference Call Participants Randy Konik - Jefferies Anna Glaessgen - B. Riley Peter Benedict - Robert W. Baird John Kernan - TD Cowen Peter Keith - Piper Sandler Brooke Roach - Goldman Sachs Operator Good day and welco ...

The premium brand's profits are going up.Shares of cooler and insulated drinkware maker Yeti Holdings (YETI 11.15%) jumped higher on Thursday after the company reported stronger-than-expected financial results for the first quarter. As of 11:15 a.m. ET, Yeti stock was up 12% today.Encouraging margin expansionFor the first quarter, Yeti generated net sales of $341 million, up 13% year over year. The company showed growth across product categories, sales channels, and geographic regions -- everything came in ...

Yeti (YETI) reported $341.39 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 12.8%. EPS of $0.34 for the same period compares to $0.18 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $333.79 million, representing a surprise of +2.28%. The company delivered an EPS surprise of +36.00%, with the consensus EPS estimate being $0.25.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Yeti (YETI) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 36%. A quarter ago, it was expected that this maker of outdoor and recreational products would post earnings of $0.96 per share when it actually produced earnings of $0.90, delivering a surprise of -6.25%.Over the last four q ...

Exhibit 99.1 YETI Reports First Quarter 2024 Results Net Sales Increased 13% EPS Increased 50%; Adjusted EPS Increased 89% Maintains Full Year 2024 Sales Outlook and Raises Full Year 2024 EPS Outlook Austin, Texas, May 9, 2024 – YETI Holdings, Inc. ("YETI") (NYSE: YETI) today announced its financial results for the first quarter ended March 30, 2024. YETI reports its financial performance in accordance with accounting principles generally accepted in the United States of America ("GAAP") and as adjusted on ...

Wall Street analysts forecast that Yeti (YETI) will report quarterly earnings of $0.25 per share in its upcoming release, pointing to a year-over-year increase of 38.9%. It is anticipated that revenues will amount to $334 million, exhibiting an increase of 10.3% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ...

The Peter Lynch philosophy of “Buy what you know” is something I tell people all the time. What it means is, when you want to invest, you should invest in companies that make the products or deliver the services you use every day. From a psychological point, it can help you stay invested and interested in companies.However, sometimes those companies that you know and love are not rocking and rolling the way they used to. Sometimes, there’s an underlying shift in the core business that you may not be aware o ...

Sales Channels - In Q4 2023, the direct-to-consumer (DTC) channel accounted for 60% of net sales, up from 58% in 2022, while the wholesale channel represented 40%, down from 42%[47]. - The direct-to-consumer (DTC) channel represented 60% of net sales in 2023, with approximately 15% of net sales coming from the Amazon Marketplace[122]. - In 2023, the wholesale channel accounted for 40% of the company's net sales, with no single retail partner contributing 10% or more of gross sales[119]. Product Development and Innovation - The company introduced redesigned versions of the Hopper M30 Soft Cooler and Hopper M20 Soft Backpack Cooler in Q4 2023, along with new sizes, the Hopper M15 and Hopper M12[42]. - The product line includes a variety of drinkware made from durable, kitchen-grade, 18/8 stainless steel, with new products introduced in 2023, including the Rambler beverage bucket and wine chiller[44]. - The company has a disciplined, stage-gate product development process to ensure quality control and optimize speed-to-market for new products[54]. - The company is committed to ongoing product development and enhancements to meet changing consumer preferences and maintain sales growth[84]. Financial Performance - Consolidated net sales for the fiscal year ended December 30, 2023, were $1.6 billion, an increase from $1.6 billion in 2022[286]. - Gross profit for the fiscal year ended December 30, 2023, was $943.2 million, compared to $763.4 million in 2022, reflecting a gross margin improvement[294]. - Net income for the fiscal year ended December 30, 2023, was $169.9 million, up from $89.7 million in 2022, representing an increase of 89%[294]. - Basic net income per share for the fiscal year ended December 30, 2023, was $1.96, compared to $1.04 in 2022[294]. - Total assets as of December 30, 2023, were $1.3 billion, an increase from $1.1 billion as of December 31, 2022[290]. - Total stockholders' equity increased to $723.6 million as of December 30, 2023, from $526.5 million in 2022[292]. - Cash provided by operating activities for 2023 was $285.942 million, significantly higher than $100.894 million in 2022[301]. - The company reported a net cash increase of $204.219 million for 2023, compared to a decrease of $77.448 million in 2022[301]. Market Expansion and Strategy - The company continues to expand internationally, focusing on brand awareness and wholesale expansion in markets such as Canada, Australia, New Zealand, Japan, and Europe[51]. - Future growth is dependent on expanding into additional consumer markets, including Canada, Australia, Europe, and Japan, where different challenges may arise[91]. - International expansion into markets such as Canada, Australia, Europe, and Japan is a key long-term strategy, but significant costs and risks are involved[130]. Supply Chain and Manufacturing Risks - The company faces risks related to supply chain disruptions, including potential loss of key manufacturers, which could negatively impact price, quality, availability, and timely delivery of products[106]. - The reliance on third-party contract manufacturers poses risks, including operational difficulties and inability to meet production deadlines, which could harm business performance[100]. - The concentration of business activity with certain manufacturers increases vulnerability to disruptions, which could result in lost sales and distribution delays[106]. Regulatory and Compliance Challenges - The company is subject to various government regulations that could adversely affect its business operations and results[77]. - The company faces risks related to the compliance of independent suppliers and manufacturing partners with ethical business practices, which could harm its reputation and results[128]. - The company is exposed to risks associated with international trade, including compliance with foreign laws and potential political instability in manufacturing countries[111]. Marketing and Brand Management - Significant investments are being made in marketing efforts, including partnerships and community events, to promote products and attract new customers[83]. - The company emphasizes the importance of maintaining and strengthening its brand to attract new customers and sustain ongoing demand for its products[82]. Economic and Market Conditions - Economic conditions, including inflation and consumer spending trends, significantly influence the company's sales and profitability[142]. - Public health crises, such as the COVID-19 pandemic, have caused significant disruptions in supply chains and may continue to impact the company's operations[144]. Financial Risks and Liabilities - The company is exposed to credit risk from retail partners, which could harm results of operations if a significant number fail to meet payment obligations[161]. - Changes in tax laws, such as the Inflation Reduction Act of 2022, could negatively impact the company's effective tax rate and financial condition[159]. - The Credit Facility requires the company to utilize a portion of cash flow from operations for debt payments, limiting available cash for other business needs[153]. Inventory and Asset Management - Inventory decreased to $337.2 million as of December 30, 2023, from $371.4 million in 2022, indicating improved inventory management[290]. - The allowance for credit losses was $0.5 million as of December 30, 2023, down from $0.7 million in 2022, reflecting improved credit risk management[309]. - At December 30, 2023, inventory reserves were $2.2 million, a decrease from $37.3 million at December 31, 2022, primarily due to the scrapping of unsalable recalled inventory[326]. Employee Relations and Workforce - The company employs approximately 1,050 people worldwide, with 88% of the workforce located in the United States, and maintains positive employee relations[71]. - Attracting and retaining skilled personnel is critical for managing growth and executing business strategies effectively[94]. Technology and Cybersecurity - The company acknowledges the need for continuous improvement in technology to meet customer expectations for a seamless omni-channel experience[93]. - Cybersecurity incidents could disrupt operations and lead to financial losses, despite existing security measures[148]. Environmental, Social, and Governance (ESG) Goals - The company’s ESG goals include advancing racial and ethnic diversity and reducing greenhouse gas emissions, but achieving these goals is subject to numerous risks[115]. - The company’s sales could be negatively impacted by changing consumer preferences and new governmental requirements related to climate change[117].

Shares of outdoor products company Yeti Holdings (YETI -13.72%) fell on Thursday after the company reported financial results for the fourth quarter of 2023 that were below Wall Street's expectations. Moreover, management wasn't as upbeat about 2024 as investors would have hoped. As a result, Yeti stock was down 15% as of 11:15 a.m. ET.A slow 2023 for YetiYeti makes premium coolers, drinkware, and other products. As consumers' budgets become more stretched due to inflation, premium brands such as Yeti are e ...