YETI Holdings Earnings Call Transcripts
Fiscal Year 2026
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Leadership highlighted organizational redesign and regional focus to drive growth. Supply chain transformation and innovation have accelerated product launches, supporting strong Q1 results and reaffirmed guidance. Brand authenticity and expansion into bags and international markets underpin long-term growth.
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Q1 2026 sales grew 8.3% year-over-year, led by strong growth in Drinkware and Coolers & Equipment, and a 19% increase in wholesale. Gross margin declined due to tariffs, but margin recovery is expected in H2. Full-year sales and EPS guidance were raised, with continued investment in innovation and share repurchases.
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The meeting confirmed a quorum, elected four directors, approved executive compensation, set annual say-on-pay votes, and ratified the auditor. No shareholder questions were submitted.
Fiscal Year 2025
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Q4 2025 saw 5% sales growth, strong international expansion, and robust free cash flow, despite tariff headwinds. 2026 guidance calls for 6%-8% sales growth, continued innovation, and $100 million in share repurchases, with international and Coolers & Equipment leading growth.
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Product innovation and global expansion are driving growth, with drinkware and bags as key categories. Marketing is increasingly targeted, leveraging sports partnerships and dynamic channel allocation. Supply chain shifts and thoughtful pricing support strong margins and capital returns.
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Q3 2025 saw 2% sales growth, led by double-digit gains in Coolers & Equipment and international markets, while U.S. drinkware remained soft. Gross margin declined due to tariffs, but strong innovation and supply chain diversification support a positive outlook, with FY25 sales expected to rise 1%-2% and international growth of 15%-20%.
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Q2 sales declined 4% due to cautious consumer spending, but strong innovation and international growth offset U.S. Drinkware weakness. Gross margin improved, EPS guidance was raised, and supply chain transformation is on track, positioning for growth in the back half and 2026.
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The brand has evolved from a regional, wholesale-focused business to a global, omnichannel leader with strong D2C growth, expanding product lines, and a balanced consumer base. Supply chain shifts and tariff mitigation are underway, with international and category expansion driving future growth.
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Q1 2025 saw 3% sales growth, led by coolers, equipment, and international markets, but U.S. drinkware declined due to supply chain shifts and tariffs. FY2025 guidance was lowered, with gross margin expected to fall to 54% and EPS to $1.96–$2.02, as tariff and inventory disruptions weigh on results.
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Significant innovation and product launches in 2024 are driving growth, with a focus on expanding both D2C and wholesale channels. International markets, especially Europe and Asia, are key growth drivers, while supply chain diversification and strategic M&A support long-term objectives.
Fiscal Year 2024
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Delivered 9% sales growth and 18% operating income growth in 2024, with strong international momentum and robust cash flow supporting acquisitions and share buybacks. 2025 guidance calls for 5–7% sales growth, stable margins, and continued innovation, despite FX and competitive headwinds.
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Sales grew 10% year-over-year, driven by innovation, international expansion, and strong wholesale and DTC channels. Gross margin improved to 58.2%, and EPS rose 18%. The company remains confident in its 2024 outlook, with international growth and supply chain diversification as key priorities.
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Q2 sales grew 9% year-over-year, led by coolers, equipment, and international markets, with gross margin expanding to 57.7%. FY 2024 outlook was raised, with sales expected to grow 8%-10% and gross margin to reach 58.5%. New product launches, supply chain diversification, and international expansion remain key growth drivers.