YETI Holdings, Inc. - YETI STOCK NEWS

YETI Holdings, Inc. reported a 20% increase in net sales for Q3 2022, totaling $433.6 million, up from $362.6 million in the prior year. Direct-to-consumer sales rose 15% to $227.4 million, while wholesale channel sales increased 25% to $206.2 million. Despite this growth, net income dropped 14% to $45.5 million, attributed to higher freight costs and foreign currency losses. YETI maintains its fiscal 2022 outlook with expected sales growth of 16% and adjusted net income per share forecasted at $2.36.

YETI Holdings, Inc. (NYSE: YETI) is set to announce its third quarter fiscal year 2022 financial results on November 10, 2022, before the market opens. The company will host a conference call at 8:00 a.m. ET to discuss the results. Investors can join the call by dialing 844-825-9789, with an international option available. A webcast will also be accessible on the investor relations section of YETI's website. A replay will be available until November 24, 2022.

YETI Holdings, Inc. (NYSE: YETI) announced the resignation of CFO Paul Carbone, effective October 28, 2022, as he returns to Boston for a family opportunity. CEO Matt Reintjes praised Carbone's significant contributions since the company's IPO in 2018. Carbone expressed pride in YETI's evolution into a public company and assured a smooth transition over the next five weeks. The Board of Directors has begun the search for a new CFO while Carbone will assist during this period.

YETI Holdings reported a 17% increase in net sales for Q2 2022, totaling $420 million, though this was below expectations. Digital traffic challenges affected new customer acquisition. Gross margin decreased to 52.2%, impacted by logistics costs and a shift towards wholesale channels. The company expects sales growth of 15% to 17% for FY 2022, down from previous estimates of 18% to 20%. Net income fell 18% to $46.3 million, while adjusted earnings per share are now projected between $2.34 and $2.46.

YETI Holdings, Inc. (NYSE: YETI) is set to announce its second quarter fiscal year 2022 financial results on August 4, 2022, before market opening. The company will host a conference call at 8:00 a.m. ET to discuss these results, inviting investors and analysts to join by dialing in 10 minutes early. The call will also be available via live webcast. A recorded replay will remain accessible until August 18, 2022, via telephone and the company’s investor relations website.

YETI Holdings reported a 19% increase in net sales for Q1 2022, reaching $293.6 million. Direct-to-consumer sales surged 23%, contributing to overall growth. Despite sales gains, gross profit increased 7% but gross margin decreased by 590 basis points due to rising costs. Operating income fell 17% to $33.3 million, and net income decreased 16% to $25.7 million. YETI completed a $100 million share repurchase and raised its EPS outlook for 2022 to between $2.67 and $2.72.

YETI Holdings, Inc. (NYSE: YETI) is set to report its first quarter fiscal year 2022 financial results on May 11, 2022, before market opening. A conference call will be held at 8:00 a.m. ET to discuss these results. Investors can participate by dialing 877-451-6152, and a live webcast will be available on YETI's investor relations website. A recorded replay of the call will also be accessible until May 25, 2022.

YETI is known for high-quality outdoor products and aims to meet the diverse needs of outdoor enthusiasts.

YETI Holdings has authorized a share repurchase program of up to $100 million for its common stock, effective immediately and lasting through February 27, 2023. CEO Matt Reintjes expressed confidence in the brand's demand, stating shares are currently undervalued. The buyback aims to enhance shareholder value while allowing YETI to pursue growth opportunities. The buybacks will utilize existing cash or future cash flow. As of January 1, 2022, YETI held $312.2 million in cash with 87.7 million shares outstanding.

YETI Holdings reported strong financial results for Q4 and the full fiscal year 2021. Q4 net sales rose 18% to $443.1 million, while full-year sales increased 29% to $1.41 billion. Operating margins in Q4 stood at 21.2%, with a full-year margin of 19.5%. EPS for Q4 grew 15% to $0.82 and 36% for the full year to $2.40. The company anticipates 18% to 20% sales growth in FY2022 despite supply chain challenges. Cash on hand exceeded $300 million, highlighting its solid financial position.