Yeti (YETI) Tops Q3 Earnings and Revenue Estimates

Core Insights - Yeti (YETI) reported quarterly earnings of $0.71 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and showing an increase from $0.60 per share a year ago, resulting in an earnings surprise of 5.97% [1] - The company achieved revenues of $478.44 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.05% and up from $433.56 million year-over-year [2] Earnings Performance - Over the last four quarters, Yeti has surpassed consensus EPS estimates three times, indicating a positive trend in earnings performance [2] - The company had a previous quarter earnings surprise of 9.38%, with actual earnings of $0.70 per share against an expected $0.64 [1] Stock Performance - Yeti shares have declined approximately 30.2% since the beginning of the year, contrasting with the S&P 500's gain of 24.3%, indicating underperformance relative to the broader market [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.95 on revenues of $557.33 million, and for the current fiscal year, it is $2.65 on revenues of $1.84 billion [7] - The estimate revisions trend for Yeti is mixed, resulting in a Zacks Rank 3 (Hold), suggesting that shares are expected to perform in line with the market in the near future [6] Industry Context - The Leisure and Recreation Products industry, to which Yeti belongs, is currently ranked in the top 28% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]