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 ...

YETI Holdings, Inc. (NYSE:YETI) Q4 2023 Earnings Conference Call February 15, 2024 8:00 AM ET Company Participants Thomas D. Shaw - VP, IR Matthew J. Reintjes - President and CEO Michael J. McMullen - SVP, CFO and Treasurer Conference Call Participants Brooke Roach - Goldman Sachs Peter Benedict - Robert W. Baird Peter Keith - Piper Sandler Robert Ohmes - Bank of America Securities James Duffy - Stifel, Nicolaus & Company Noah Zatzkin - KeyBanc Capital Markets Megan Alexander - Morgan Stanley Brian McNamara ...

Yeti Holdings Inc (NYSE:YETI) reported fourth-quarter earnings of 90 cents per share on revenue of $519.8 million, both of which missed expectations, pushing shares 10.7% lower to trade at $43.06 at last check.Also weighing on the retailer is a weaker-than-expected 2024 guidance. This soft outlook follows two major acquisitions the company made last month. Yeti acquired Mystery Ranch to add to its bags and packs product unit and moved into cookware through its buyout of Butter Pat Industries, which offers c ...

For the quarter ended December 2023, Yeti (YETI) reported revenue of $519.79 million, up 6.9% over the same period last year. EPS came in at $0.90, compared to $0.78 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $538.21 million, representing a surprise of -3.42%. The company delivered an EPS surprise of -6.25%, with the consensus EPS estimate being $0.96.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

® (YETI) YETI Disclaimer Forward Looking Statements 2 These forward-looking statements are made based upon detailed assumptions and reflect management's current expectations and beliefs as of the date hereof. While we believe that these assumptions underlying the forward-looking statements are reasonable, we caution that it is very difficult to predict the impact of known factors, and it is impossible for us to anticipate all factors that could affect actual results. Readers of this presentation should cons ...

Yeti (YETI) came out with quarterly earnings of $0.90 per share, missing the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.25%. A quarter ago, it was expected that this maker of outdoor and recreational products would post earnings of $0.54 per share when it actually produced earnings of $0.60, delivering a surprise of 11.11%.Over the last fou ...

Yeti Holdings Inc.’s stock YETI tumbled 11% early Thursday, after the maker of drinkware, coolers and outdoor products missed profit and sales estimates for the fourth quarter and offered soft guidance. Austin, Texas-based Yeti had net income of $78.6 million, or 90 cents a share, for the quarter, after a loss of $27.7 million, or 32 cents a share, in the year-earlier period. Adjusted per-share earnings also came to 90 cents, below the 96-cent FactSet consensus. Sales rose 16% to $519.8 million, also below ...

Wall Street analysts forecast that Yeti (YETI) will report quarterly earnings of $0.96 per share in its upcoming release, pointing to a year-over-year increase of 23.1%. It is anticipated that revenues will amount to $537.76 million, exhibiting an increase of 10.6% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 2.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of th ...

Yeti Holdings Inc (NYSE:YETI) is 1.4% lower at $46.48 this morning, after Canaccord Genuity downgraded the stock to "hold" from "buy." And though the analyst hiked its price target by $1 to $50, it said Stanley is proving to be a tougher-than-expected rival to Yeti, and Owala is making more noise than anticipated as well. The brokerage bunch is still mostly optimistic towards YETI, with seven of the 17 analysts in question calling it a "buy" or better. Plus, the 12-month consensus target price of $47.63 is ...