Notable News to Watch: YETI Holdings, Inc. (NYSE: YETI)

On 20 Nov 2019, YETI Holdings, Inc stock identified change of 140.24% away from 52-week low price and recently located move of -21.83% off 52-week high price. It has market worth of $2531.85M. YETI stock has been recorded -2.08% away from 50 day moving average and 2.95% away from 200 day moving average. Moving closer, we can see that shares have been trading -5.32% off 20-day moving average.

YETI Holdings, Inc (YETI) recently reported its financial results for the third quarter ended September 28, 2019.

For the Three Months Ended September 28, 2019

Net sales increased 17% to $229.1M, contrast to $196.1M during the same period last year.

  • Direct-to-consumer (“DTC”) channel net sales increased 31% to $92.9M, contrast to $71.2M in the previous year quarter, led by strong performance in both product categories, particularly in Drinkware.
  • Wholesale channel net sales increased 9% to $136.2M, contrast to $125.0M in the same period last year, driven by strong performance in both Coolers & Equipment and Drinkware categories.
  • Drinkware net sales increased 21% to $126.4M, contrast to $104.0M in the previous year quarter, primarily driven by the continued expansion of our product offerings, including the introduction of new colorways and sizes, and strong demand for customization.
  • Coolers & Equipment net sales increased 13% to $97.8M, contrast to $86.7M in the same period last year, primarily driven by strong performance in soft coolers and outdoor living.

Gross profit increased 23% to $120.1M, or 52.4% of net sales, contrast to $97.5M, or 49.7% of net sales, in the third quarter of 2018. The 270-basis point increase in gross margin was primarily driven by cost improvements, particularly in our Drinkware category and a favorable shift in our channel mix led by a raise in DTC channel net sales, partially offset by higher tariff rates.

Selling, general, and administrative (“SG&A”) expenses increased to $86.1M, or 37.6% of net sales, contrast to $69.4M, or 35.4% of net sales, in the third quarter of 2018. SG&A as a percent of net sales increased 220 basis points, including about 100 basis points attributable to costs incurred in our ongoing transition to a public company. The balance, or about 120 basis points, was primarily Because of higher variable selling expenses driven by our faster growing DTC channel, increased marketing expenses, and increased personnel to support long-term growth in our business, partially offset by lower non-cash stock-based compensation expense, and professional fees.

Operating income increased 21% to $34.0M, to 14.8% of net sales, contrast to $28.1M, or 14.3% of net sales, during the previous year quarter.

Adjusted operating income increased 27% to $40.4M, to 17.6% of net sales, contrast to $31.7M, or 16.2% of net sales, during the same period last year.

Net income increased 25% to $21.3M, contrast to $17.0M in the previous year quarter; earnings per diluted share increased 20% to $0.25, contrast to $0.21 per diluted share in the previous year quarter.

Adjusted net income increased 29% to $26.1M, contrast to $20.2M in the previous year quarter; adjusted earnings per diluted share increased 24% to $0.30, contrast to $0.24 per diluted share in the previous year quarter.

Adjusted EBITDA increased 24% to $47.5M, or 20.7% of net sales, from $38.4M, or 19.6% of net sales, during the same period last year.

For the Nine Months Ended September 28, 2019

Net sales increased 15% to $616.1M, contrast to $537.7M during the same period last year.

The Consumer Goods sector company, YETI Holdings, Inc. noticed change of 1.74% to $29.79 along volume of 903979 shares in recent session compared to an average volume of 1220.81K. The stock observed return of -4.37% in 5 days trading activity. The stock was at -6.53% over one month performance. YETI’s shares are at 2.51% for the quarter and driving a 69.55% return over the course of the past year and is now at 100.74% since this point in 2018.   The average volatility for the week at 4.13% and for month was at 4.25%. There are 84.99M shares outstanding and 71.63M shares are floated in market. Right now the stock beta is # ref.

 

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