NYSE$YETI
YETI Holdings Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
YETI's Q3 2022 results were released, showcasing a 20% increase in net sales.
YETI Holdings reported a stronger than expected 20% increase in sales for the third quarter of 2022, driven by growth in both DTC and wholesale channels. However, gross margin decreased due to higher inbound freight, product costs, and unfavorable foreign currency exchange rates. The company maintains and narrows its fiscal year 2022 outlook, expecting sales growth of approximately 16% and an adjusted operating margin of approximately 17%.
- Net sales increased by 20% to $433.6 million compared to the same period last year.
- Direct-to-consumer (DTC) channel sales increased by 15% to $227.4 million, representing 52% of total sales.
- Wholesale channel sales increased by 25% to $206.2 million, driven by Coolers & Equipment.
- Gross margin decreased by 580 basis points to 51.3%, impacted by higher inbound freight, product costs and unfavorable foreign currency exchange rates.
Headline financials
Revenue & EPS history
YETI · Revenue · Quarterly
$434M
Revenue by segment
YETI · $858M total across 4 segments · Q3 2022
- Drinkware$239M+16.6%27.8%
- Direct-to-consumer$227M+15.4%26.5%
- Wholesale$206M+24.6%24.0%
- Coolers & Equipment$186M+24.6%21.6%
Forward guidance
YETI is maintaining and narrowing its Fiscal 2022 outlook, expecting sales growth of approximately 16% and an adjusted operating margin of approximately 17%.
Tailwinds
- Expects full year 2022 sales growth of 16%.
- Third quarter performance saw an increase in wholesale orders backed by continued strong sell-through.
- Channel's effort to reach more optimal inventory levels earlier than normally seen ahead of the holiday season.
- Expects adjusted operating margin to come in at approximately 17%.
- Confident in ability to drive brand and product momentum and strengthen balance sheet.
Headwinds
- Sales growth outlook takes into consideration a prudently cautious position for the fourth quarter.
- Adjusted operating margin reflects supply chain cost challenges.
- Operating income is expected to decrease approximately 6%.
- Adjusted operating income is expected to decrease approximately 6%.
- Adjusted net income per diluted share is expected to be approximately $2.36, reflecting a 9% decrease.
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 Q3 2022
+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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