Loading...
Loading...
- YETI Holdings Inc YETI reported third-quarter FY22 sales growth of 20% year-on-year to $433.56 million, beating the consensus of $414.50 million.
- Net sales from the Direct-to-consumer channel increased 15% Y/Y, the Wholesale channel rose 25%, Drinkware sales gained 17%, and Coolers & Equipment rose 25%.
- Adjusted EPS of $0.63 beat the analyst consensus of $0.58.
- Gross profit increased 7% Y/Y to $222.4 million, and gross margin contracted 580 basis points to 51.3%.
- The operating margin contracted 320 basis points to 15.8%, and operating income for the quarter was $68.5 million.
- Selling, general, and administrative expenses increased 11% to $153.9 million.
- The company held $77.8 million in cash and equivalents as of October 1, 2022.
- Inventory at the end of Q3 grew 65% to $439.4 million.
- Outlook: YETI expects sales to increase approximately 16% (prior view 15%-17%).
- The company sees adjusted EPS of $2.36 (prior view $2.34-$2.46), reflecting a 9% decrease Y/Y, and against the consensus of $2.37.
- Price Action: YETI shares are trading higher by 19.31% at $36.20 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in