YETI Holdings Inc. (NYSE:YETI), a leading manufacturer of premium outdoor lifestyle products, saw its shares surge over 8% in pre-market trading on November 7, 2024. This rally followed the company's impressive third-quarter results for fiscal 2024, which exceeded analysts' expectations, and an optimistic full-year outlook.
For the quarter ended September 30, 2024, YETI reported an adjusted earnings per share of $0.71, surpassing the consensus analyst estimate of $0.67. The company's revenue climbed 10.3% year-over-year to $478.4 million, also exceeding Wall Street's expectations of $471.2 million. YETI's strong performance was driven by continued robust demand for its premium coolers, drinkware, and other outdoor gear across both wholesale and direct-to-consumer channels.
Looking ahead, YETI provided an upbeat full-year 2024 outlook, forecasting an approximately 9% increase in adjusted sales. The company's robust third-quarter results and positive guidance have bolstered investor confidence in its growth prospects and ability to navigate economic headwinds.
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