YETI Holdings Earnings Call Transcripts
Fiscal Year 2026
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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 Drinkware declined 4%. Gross margin fell due to tariffs, but strong innovation, global expansion, and increased share buybacks support a positive long-term outlook.
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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, strong international and coolers performance, but drinkware declined due to supply chain shifts. FY2025 guidance was lowered on tariff and supply disruptions, with gross margin expected to fall and EPS revised down. International growth and supply chain transformation remain key priorities.
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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 21% EPS growth in 2024, with strong international momentum and robust free cash flow. 2025 guidance calls for 5–7% sales growth, continued innovation, and mid-teens international expansion, despite FX and competitive headwinds.
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Net sales rose 10% year-over-year, with strong growth in international markets and across all product categories. Gross margin expanded to 58.2%, and full-year guidance was reiterated, with adjusted EPS expected to grow 18%.
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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.