YETI Holdings Rallies On Better-than-expected Q3 Results

Shares of YETI Holdings, Inc. (YETI) are rising more than 20% Thursday morning after reporting better-than-expected third-quarter results.

YETI Holdings designs, retails, and distributes products for the outdoor and recreation market under the YETI brand.

Profit for the third quarter decreased to $45.5 million or $0.52 per share from $53 million or $0.60 per share in the same quarter a year ago.

Excluding one-time items, earnings were $0.63 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.58 per share.

Sales for the quarter increased 20% to $433.6 million, from $362.6 million last year. The consensus estimate was for $414.5 million.

For the full year, the company expects sales to increase approximately 16%, and adjusted EPS to be about $2.36.

Analysts expect the company to report earnings of $2.37 per share on revenue growth of 15.2%.

YETI, currently at $36.41, has traded in the range of 27.86 – 107.10 in the last 1 year.