YETI Holdings Inc. (NYSE: YETI) topped analysts’ estimates on revenue and earnings for the first quarter of 2019. Shares soared 9% in premarket hours on Thursday.
Net sales rose 15% year-over-year to $155.4 million. The sales results included a benefit of approx. 400 basis points from shipments late in the quarter that were expected to ship in the second quarter.
The company reported a net income of $2.2 million, or $0.03 per share, compared to a net loss of $3.3 million, or $0.04 per share, in the prior-year quarter. Adjusted net income was $6.6 million, or $0.08 per share.
Related: Yeti Holdings Q1 2019 Earnings Conference Call
Net sales in the Direct-to-consumer (DTC) channel jumped 28% to $61.7 million, driven by strong performance in the Drinkware category. In the Wholesale channel, net sales increased 8% to $93.6 million, primarily driven by Coolers & Equipment.
Drinkware net sales climbed 20% to $91 million, helped by the expansion of product offerings. Net sales in Coolers & Equipment grew 11% to $59.7 million, mainly driven by color updates across the hard and soft cooler lines, and the introduction of the CaminoTM Carryall bag to the wholesale channel.
Related: YETI Holdings Q4 2018 Earnings Report
Yeti updated its earnings outlook for the full year of 2019. GAAP EPS is now expected to be $0.87 to $0.90, reflecting 25% and 31% growth. Adjusted EPS is now expected to be $1.02 to $1.06, reflecting 13-17% growth.
The sales outlook remains unchanged and net sales for the year are expected to increase 11.5-13% compared to 2018, with growth across both channels and led by the DTC channel.
Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!
Most Popular
DG Earnings: All you need to know about Dollar General’s Q4 2024 earnings results
Dollar General Corporation (NYSE: DG) reported its fourth quarter 2024 earnings results today. Net sales increased 4.5% year-over-year to $10.3 billion. Same-store sales increased 1.2%. Net income of $191.2 million was
Adobe (ADBE) reports higher Q1 revenue, adjusted earnings
Adobe Inc. (NASDAQ: ADBE) on Wednesday reported an increase in revenue and adjusted profit for the first quarter of 2025. The numbers also exceeded Wall Street's expectations. The design software
Darden Restaurants likely to report higher sales and profit for Q3 2025
Despite rising costs and shifting consumer habits, Darden Restaurants, Inc. (NYSE: DRI) has maintained stable performance, reflecting the unwavering popularity of its brands and their ability to compete effectively in
