Why Are Yeti Shares Sliding Today?

Shares of Yeti Holdings Inc. YETI are down today following a worse-than-expected earnings report.

This morning Yeti reported its second-quarter earnings. The company fell short of the consensus analyst estimates for both its revenue and earnings per share.

Revenue was estimated at $422.90 Million but was reported at $420.04 Million.

Earnings per share was estimated at $0.68 but was reported at $0.63.

President and CEO Matt Reintjes shared the following sentiments to justify why sales were down this quarter: “Nonetheless, sales were slightly below our expectations, primarily due to softer digital traffic and new customer acquisition trends after several years of strong growth.”

Price Action: Shares are down 16.5% as the price hovers at $45.39 on the last check Thursday.

Photo: Courtesy of colton strickland on Unsplash