Yeti Posts Lackluster, In-Line 2Q Sales

Dow Jones
08/13

0747 ET - Yeti Holdings reports 2Q sales in line with Wall Street estimates but earnings that are well ahead of expectations even without the benefit of tariff refunds, according to William Blair in a research note. The company, known for its insulated drinkware, raises its full-year earnings outlook, while maintaining its full-year sales growth forecast of 7% to 8%. "We expect the Street to be disappointed by the top-line performance during the quarter and the lack of a raise to the guide, where we estimate the buy-side was looking for something closer to 8% to 9% sales growth for the full year to help boost the credibility of management's long-term target in the high-single- to low-double-digit range ahead of its investor day on September 17," analysts Phillip Blee and Olivia Witte say. Yeti is off 3% premarket.

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