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YETI Q1 Earnings Top Estimates; Raises FY22 EPS Outlook

By Shivani Kumaresan
  • YETI Holdings Inc (NYSE:YETI) reported first-quarter FY22 sales growth of 19% year-on-year, to $293.6 million, beating the consensus of $290.33 million.
  • Net sales from the Direct-to-consumer channel increased 23% Y/Y, the Wholesale channel rose 14%, Drinkware sales gained 24%, and Coolers & Equipment rose 10%.
  • Adjusted EPS of $0.33 beat the analyst consensus of $0.32.
  • Gross profit increased 7% Y/Y to $154.9 million, and gross margin contracted 590 basis points to 52.7%.
  • The operating margin contracted 490 basis points to 11.3%, and operating income for the quarter declined 17% to $33.3 million.
  • Selling, general, and administrative expenses increased 16% to $121.6 million.
  • The company held $100.3 million in cash and equivalents as of April 2, 2022.
  • Outlook: YETI's FY22 sales outlook for 18% - 20% growth remains unchanged.
  • The company raised its adjusted EPS outlook to $2.86 - $2.91 from $2.82 - $2.86, above the consensus of $2.85.
  • Price Action: YETI shares are trading higher by 2.91% at $45.25 in premarket on Wednesday.
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Dive Deeper:
Tapestry Q3 Earnings Top Estimates; Cuts FY22 Outlook
Tapestry Inc (NYSE:TPR) reported third-quarter FY22 sales growth of 13% year-on-year, to $1.44 billion, beating the consensus of $1.42 billion. Adjusted EPS of…
US Foods Q1 Earnings Lags Street View; Reaffirms FY22 Outlook
US Foods Holding Corp (NYSE:USFD) reported first-quarter FY22 sales growth of 23.9% year-on-year, to $7.8 billion, missing the consensus of $8.59 billion. Total…
Shockwave Medical Stock Soars On Q1 Earnings Beat, Raised FY22 Guidance
Shockwave Medical Inc (NASDAQ:SWAV) reported first-quarter revenue of $93.63 million, an increase of 193.5% year-over-year, beating the consensus of $86.41 million. The…
Olaplex Clocks 58% Top-Line Growth In Q1; Affirms FY22 Forecast
Olaplex Holdings Inc (NASDAQ:OLPX) reported first-quarter FY22 sales growth of 57.6% year-on-year to $186.2 million, beating the consensus of $172.46 million. The gross…
One subscription that gives you access to news from hundreds of sites
Hyatt Hotels Q1 Earnings Top Estimates; RevPAR Strengthens Further In April
Hyatt Hotels Corp (NYSE:H) reported first-quarter FY22 revenues of $1.27 billion, beating the consensus of $1.1 billion. Comparable system-wide RevPAR increased 107%…
Why Malibu Boats Shares Are Gaining Today
Malibu Boats Inc (NASDAQ:MBUU) reported third-quarter FY22 sales growth of 26% year-on-year to $344.29 million, beating the consensus of $304.49 million. The revenue…
Get all your news in one place