NYSE$YETI
YETI Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
YETI's Q2 2024 performance was marked by a 15% increase in net sales, driven by strong growth in Coolers & Equipment and international markets, along with gross margin expansion and increased EPS.
YETI reported a strong second quarter in 2024, with net sales increasing by 15% to $463.5 million. The company saw significant growth in its Coolers & Equipment category and international business. Gross margin expanded, and both EPS and adjusted EPS increased.
- Net sales increased by 15%, inclusive of a recall reserve adjustment; adjusted net sales increased by 9%.
- Coolers & Equipment net sales increased by 31%, while Drinkware net sales increased by 6%.
- Gross margin expanded by 360 basis points to 57.0%; adjusted gross margin expanded by 280 basis points to 57.7%.
- EPS increased 34% to $0.59; adjusted EPS increased 23% to $0.70.
Headline financials
Revenue & EPS history
YETI · Revenue · Quarterly
$463M
Revenue by segment
YETI · $858M total across 4 segments · Q3 2023
- Direct-to-consumer$260M+14.1%30.2%
- Drinkware$253M+6.0%29.5%
- Wholesale$174M-15.6%20.3%
- Coolers & Equipment$172M-7.6%20.0%
Forward guidance
YETI has increased its outlook for fiscal year 2024, expecting adjusted sales to increase between 8% and 10% and adjusted net income per diluted share between $2.61 and $2.65.
Tailwinds
- Adjusted sales are expected to increase between 8% and 10%.
- Adjusted operating income as a percentage of adjusted sales is expected to be approximately 16.5%.
- The effective tax rate is expected to be approximately 25.2%.
- Adjusted net income per diluted share is projected to be between $2.61 and $2.65, reflecting a 16% to 18% increase.
- Capital expenditures are expected to be between $50 million and $60 million, primarily to support investments in technology and new product innovation.
Headwinds
- The macro environment remains uncertain.
- An effective tax rate of approximately 25.2% (compared to 24.8% in the prior year period)
- Diluted weighted average shares outstanding of approximately 86.0 million
- Capital expenditures between $50 million and $60 million
- Uncertainty in forecasting with reasonable certainty certain amounts that are necessary for reconciliation
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
+0.5%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.2%
Avg return
30 days after
39%
14 / 36 earnings
Positive
+44.7%
Q3 2022
Best reaction
-18.8%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | +9.2% | +31.5% | |
| Q4 2025 | -4.6% | -8.1% | -28.2% | |
| Q3 2025 | +5.3% | +15.2% | +29.9% | |
| Q1 2025 | +6.0% | +13.4% | +13.0% | |
| Q4 2024 | -0.9% | +1.4% | -15.1% | |
| Q3 2024 | +7.0% | +14.5% | +17.5% | |
| Q2 2024 | +10.7% | +12.6% | +0.8% | |
| Q1 2024 | +14.0% | +20.4% | +23.6% | |
| Q4 2023 | -18.8% | -20.0% | -23.1% | |
| Q3 2023 | +4.1% | +10.6% | +16.6% | |
| Q2 2023 | +13.5% | +15.6% | +19.5% | |
| Q1 2023 | -5.2% | -5.6% | -16.7% | |
| Q4 2022 | -3.5% | -1.9% | -1.6% | |
| Q3 2022 | +44.7% | +45.7% | +47.2% | |
| Q2 2022 | -17.3% | -21.4% | -34.3% | |
| Q1 2022 | +3.0% | +7.4% | +1.6% | |
| Q4 2021 | -8.0% | -10.3% | -5.0% | |
| Q3 2021 | -5.0% | +1.1% | -12.8% | |
| Q2 2021 | +1.6% | +2.2% | +0.8% | |
| Q1 2021 | +8.8% | +5.9% | +16.6% | |
| Q3 2020 | +14.3% | +8.2% | +22.2% | |
| Q2 2020 | -2.4% | -7.7% | -4.1% | |
| Q1 2020 | +6.7% | +0.3% | +31.4% | |
| Q4 2019 | -5.4% | -7.5% | -34.1% | |
| Q3 2019 | -5.2% | -8.2% | -8.3% | |
| Q2 2019 | -12.7% | -14.3% | -18.7% | |
| Q1 2018 | -8.9% | -7.9% | -22.2% | |
| Q1 2019 | -7.1% | -15.4% | -29.5% | |
| Q1 2017 | -1.9% | +2.5% | +11.1% | |
| Q2 2017 | -1.9% | +2.5% | +11.1% | |
| Q4 2016 | -1.9% | +2.5% | +11.1% | |
| Q2 2018 | -1.9% | +2.5% | +11.1% | |
| Q4 2018 | +22.4% | +28.0% | +59.6% | |
| Q4 2017 | -8.5% | -12.0% | -9.3% | |
| Q3 2017 | -8.5% | -12.0% | -9.3% | |
| Q3 2018 | -12.3% | -12.1% | -22.8% | |
| Q1 2016 | — | — | — | |
| Q1 2015 | — | — | — |
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