Thursday, August 1, 2019
YETI (YETI) reported earnings on Thur 1 Aug 2019 (b/o)
** charts after earnings **
YETI Holdings beats by $0.03, beats on revs; raises FY19 EPS above consensus, revs above consensus
Reports Q2 (Jun) earnings of $0.33 per share, $0.03 better thanthe S&P Capital IQ Consensus of $0.30; revenues rose 12.3% year/year to $231.7 mln vs the $226.22 mln S&P Capital IQ Consensus.
Direct-to-consumer channel net sales increased 36% to $144.2 mln, compared to $105.8 mln in the prior year period, led by strong performance in both primary product categories.
Wholesale channel net sales increased 3% to $242.8 mln, compared to $235.8 mln in the same period last year, primarily driven by Coolers & Equipment.
Drinkware net sales increased 18% to $207.9 mln, compared to $176.7 mln in the prior year period, primarily driven by the continued expansion of the company's Drinkware product offerings, including the introduction of new colorways, sizes, and accessories and strong demand for customization.
Co issues raises guidance for FY19, sees EPS of $1.07-$1.09 vs. prior outlook of $1.02-$1.06 and above the $1.05 S&P Capital IQ Consensus; sees FY19 rev growth of 13.5-14% equating to $883.9-$887.8 mln vs. prior outlook for growth of 11.5-13% and vs. the $880.95 mln S&P Capital IQ Consensus.