YETI Holdings (NYSE:YETI) raised its full-year earnings forecast on Thursday after reporting third-quarter results that topped analyst expectations, supported by continued strength in its Coolers & Equipment segment despite softer Drinkware sales.
The company posted earnings per share of $0.61, ahead of the $0.58 consensus estimate, while revenue grew 2% year over year to $487.8 million, beating the projected $480.3 million.
International revenue surged 14%, while U.S. sales dipped 1%, reflecting mixed regional trends as consumer spending patterns evolved.
Adjusted operating income declined 16% to $66.6 million, representing 13.7% of adjusted sales, compared with $79.2 million or 16.6% of sales in the same quarter last year.
“Our third quarter results continue to show the strength of YETI and the positive momentum of our long-term growth strategy. Anchored in accelerating product innovation, a powerful and growing global brand, and expanding international reach, we are seeing meaningful wins across all three strategic growth pillars,” said Matt Reintjes, President and CEO.
“As we look beyond 2025, continued execution against these three pillars sets YETI on the path to a long-term topline growth range of high-single-digits to low-double-digits.”
For fiscal 2025, the company now expects earnings per share between $2.38 and $2.49, slightly above its prior forecast of $2.34 to $2.48, and broadly in line with analyst expectations of $2.42.
However, YETI narrowed its adjusted sales growth forecast to 1%–2%, compared with previous guidance of flat to up 2%, citing an anticipated 300-basis-point headwind from ongoing supply chain transformation efforts.