Yeti reports Q3 adjusted EPS 60c, consensus 54c

Reports Q3 revenue $433.6M, consensus $426.43M. Matt Reintjes, President and CEO, commented, “Our third quarter results demonstrate the continued and consistent execution of the YETI growth playbook, driving strong brand and product interest, while setting up the business for long-term, sustainable growth. Sales in the quarter were in line with our prior outlook, as a diverse range of new product offerings drove strong consumer demand across our major sales channels. Gross margin performance remained exceptional and above expectations, led by strong partnerships with our suppliers on product cost and the ongoing optimization of our transportation and logistics expenses. These gains continue to support growth focused investments across our business, while still driving upside to our bottom line.” Reintjes continued, “In addition to disciplined execution during the third quarter, we also successfully launched our expanded line of Hopper M Series soft coolers back to the market earlier in the fourth quarter. We are well positioned to build upon our leadership position in the soft cooler category as these products are more fully distributed across our channels into next year. In addition, we have extended a key customization capability across our global business with the debut of our first Ecommerce customization options outside of the U.S. Our consistent ability to drive innovation, combined with our unique omni-channel approach to reaching consumers and our continued brand investments, builds a strong and scalable platform for future growth.”