NYSE$YETI
YETI Holdings Inc · Q4 2019 earnings
Q4 2019 earnings · · Investor relations
Briefing
YETI's Q4 2019 financial performance reflected strong net sales growth and gross margin expansion, but was impacted by one-time stock-based compensation expense.
YETI reported a 23% increase in net sales for the fourth quarter of 2019, driven by growth in both DTC and wholesale channels. Gross margin expanded by 150 basis points, primarily due to cost improvements and a favorable shift in channel mix. However, operating income and net income decreased due to a significant one-time non-cash stock-based compensation expense.
- Net sales increased by 23% to $297.6 million compared to the same period last year.
- Direct-to-consumer (DTC) channel net sales increased by 35% to $149.0 million.
- Gross margin expanded by 150 basis points to 54.5% of net sales.
- Net income decreased by 81% to $4.7 million, impacted by a one-time non-cash stock-based compensation expense.
Headline financials
Revenue & EPS history
YETI · Revenue · Quarterly
$298M
Revenue by segment
YETI · $592M total across 4 segments · Q4 2019
- Drinkware$192M+33.8%32.4%
- Direct-to-consumer$149M+34.8%25.2%
- Wholesale$149M+13.8%25.1%
- Coolers & Equipment$102M+12.2%17.3%
Forward guidance
YETI expects net sales to increase between 13.0% and 15.0% for fiscal year 2020.
Tailwinds
- Net sales to increase between 13.0% and 15.0% compared to Fiscal 2019.
- Strong growth across both channels and led by the DTC channel.
- Operating income as a percentage of net sales between 15.3% and 15.6%.
- Adjusted operating income as a percentage of net sales between 16.3% and 16.6%, reflecting margin expansion of 70 to 100 basis points, driven by higher gross margin.
- Adjusted EBITDA between $202.1 million and $207.9 million, or between 19.6% and 19.8% of net sales, reflecting 18% to 21% growth.
Headwinds
- An effective tax rate of approximately 25.0%.
- Net income per diluted share is now expected to be between $1.24 and $1.29, reflecting 112% to 122% growth.
- Adjusted net income per diluted share between $1.34 and $1.39, reflecting 26% to 30% growth.
- Diluted weighted average shares outstanding of 87.7 million.
- Capital expenditures between $30 million and $35 million.
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 Q4 2019
+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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