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].

Core Viewpoint - The market anticipates Yeti (YETI) will report a year-over-year increase in earnings and revenues for the quarter ended December 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Yeti is expected to post quarterly earnings of $0.93 per share, reflecting a year-over-year increase of 3.3% [3]. - Revenues are projected to reach $554.08 million, which is a 6.6% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 1.52% over the last 30 days, indicating a bearish sentiment among analysts regarding Yeti's earnings prospects [4][10]. - The current Earnings ESP for Yeti stands at -1.17%, suggesting a potential earnings miss [10][11]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive or negative reading can predict the likelihood of actual earnings deviating from consensus estimates, with positive readings being more reliable [6][7]. - Stocks with a positive Earnings ESP and a Zacks Rank of 1, 2, or 3 have historically shown a nearly 70% chance of delivering a positive surprise [8]. Historical Performance - In the last reported quarter, Yeti exceeded the expected earnings of $0.67 per share by delivering $0.71, resulting in a surprise of 5.97% [12]. - Over the past four quarters, Yeti has beaten consensus EPS estimates three times [13]. Conclusion - Despite the potential for an earnings beat, Yeti does not currently appear to be a strong candidate for exceeding earnings expectations, and investors should consider other influencing factors before making investment decisions [14][16].

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]

Yeti (YETI) reported $478.44 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 10.4%. EPS of $0.71 for the same period compares to $0.60 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $473.48 million, representing a surprise of +1.05%. The company delivered an EPS surprise of +5.97%, with the consensus EPS estimate being $0.67.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Str ...

Yeti (YETI) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.97%. A quarter ago, it was expected that this maker of outdoor and recreational products would post earnings of $0.64 per share when it actually produced earnings of $0.70, delivering a surprise of 9.38%.Over the last four ...

Sales Performance - Net sales increased 10% to $478.4 million, with Coolers & Equipment up 12% and Drinkware up 9%[3][4] - International net sales grew 30%, marking the fourth consecutive quarter of over 30% growth outside the U.S.[3] - Net sales for the three months ended September 28, 2024, were $478.44 million, a 10.3% increase compared to $433.56 million in the same period last year[36] - Net sales for the nine months ended September 28, 2024, were $1.28 billion, a 12.7% increase compared to $1.14 billion in the same period last year[36] - Net sales for the nine months ended September 28, 2024, grew to $1.28 billion, up from $1.14 billion in the same period last year[42] - Total net sales for the three months ended September 28, 2024, were $478,440 thousand, with wholesale contributing $197,629 thousand and direct-to-consumer contributing $280,811 thousand[48] - Total net sales for the nine months ended September 28, 2024, were $1,283,333 thousand, with wholesale contributing $564,326 thousand and direct-to-consumer contributing $719,007 thousand[49] Gross Profit and Margin - Gross margin remained flat at 58.0%, while adjusted gross margin expanded 40 basis points to 58.2%[3][6][7] - Gross profit for the three months ended September 28, 2024, was $277.73 million, a 10.5% increase compared to $251.25 million in the same period last year[36] - Gross profit for the nine months ended September 28, 2024, was $736.85 million, a 17.3% increase compared to $627.96 million in the same period last year[36] - Adjusted gross margin for the nine months ended September 28, 2024, improved to 57.8% from 55.5% in the prior year[42] Net Income and EPS - EPS increased 35% to $0.66, and adjusted EPS rose 18% to $0.71[3][10][11] - Net income for the three months ended September 28, 2024, was $56.28 million, a 31.9% increase compared to $42.66 million in the same period last year[36] - Net income for the nine months ended September 28, 2024, was $122.54 million, a 34.2% increase compared to $91.29 million in the same period last year[36] - Net income for the nine months ended September 28, 2024, increased to $122.5 million from $91.3 million in the same period last year[40] - Adjusted net income for the nine months ended September 28, 2024, rose to $149.4 million from $118.2 million in the prior year[44] - Adjusted net income per diluted share for the nine months ended September 28, 2024, increased to $1.74 from $1.35 in the same period last year[44] - Adjusted net income for fiscal 2024 is forecasted at $227,896 thousand, compared to $196,987 thousand in fiscal 2023[51] - Adjusted net income per diluted share is anticipated to rise to $2.65 in fiscal 2024 from $2.25 in fiscal 2023[51] Operating Income and Expenses - Adjusted operating income increased 11% to $79.2 million, representing 16.6% of adjusted sales[9][10] - Adjusted operating income for the nine months ended September 28, 2024, increased to $198.8 million from $160.2 million in the same period last year[44] - Adjusted operating income as a percentage of adjusted net sales is expected to increase to 16.5% in fiscal 2024 from 15.6% in fiscal 2023[51] - Adjusted SG&A expenses as a percentage of adjusted net sales decreased to 42.4% for the nine months ended September 28, 2024, from 41.7% in the prior year[42] Cash Flow and Capital Expenditures - Inventory increased 8% to $370.2 million, while cash remained stable at $280.5 million[22] - Capital expenditures for 2024 are expected to be approximately $50 million, primarily for technology and new product innovation[24] - Cash and cash equivalents as of September 28, 2024, were $280.46 million, a decrease of 36.1% compared to $438.96 million as of December 30, 2023[38] - Net cash provided by operating activities decreased to $35.8 million for the nine months ended September 28, 2024, from $114.8 million in the prior year[40] - Cash and cash equivalents decreased to $280.5 million as of September 28, 2024, from $438.9 million at the beginning of the period[40] Inventory and Assets - Inventory as of September 28, 2024, was $370.23 million, a 9.8% increase compared to $337.21 million as of December 30, 2023[38] - Total assets as of September 28, 2024, were $1.27 billion, a 1.9% decrease compared to $1.30 billion as of December 30, 2023[38] - Total liabilities as of September 28, 2024, were $503.21 million, a 12.3% decrease compared to $573.58 million as of December 30, 2023[38] Channel and Category Performance - Direct-to-consumer (DTC) channel sales increased 8% to $280.8 million, driven by growth in Coolers & Equipment and Drinkware[5] - Wholesale channel sales increased 14% to $197.6 million, driven by growth in Drinkware and Coolers & Equipment[5] - Coolers & Equipment category sales for the three months ended September 28, 2024, were $192,595 thousand, while Drinkware sales were $274,981 thousand[48] - Coolers & Equipment category sales for the nine months ended September 28, 2024, were $518,443 thousand, while Drinkware sales were $736,084 thousand[49] - United States net sales for the three months ended September 28, 2024, were $390,176 thousand, with international sales at $88,264 thousand[48] - United States net sales for the nine months ended September 28, 2024, were $1,052,858 thousand, with international sales at $230,475 thousand[49] Share Repurchase and Financial Outlook - The company repurchased $100 million of common stock during the nine months ended September 28, 2024[40] - Updated 2024 outlook expects adjusted sales to increase approximately 9%, with adjusted EPS of $2.65, reflecting an 18% increase[23] - Adjusted net sales for fiscal 2024 are projected to be $1,831,650 thousand, up from $1,680,413 thousand in fiscal 2023[51]