Shares of outdoor and recreation products provider YETI Holdings (NYSE:YETI) are trending higher today after the company announced better-than-expected first-quarter numbers.
Revenue rose 3.1% year-over-year to $302.8 million, surpassing estimates by $8.8 million. EPS at $0.18 too came in better than the Street’s expectations by $0.03. The company delivered this performance despite a voluntary product recall while also managing to expand its portfolio during the quarter.
Further, the company is witnessing growth across Drinkware as well as Coolers & Equipment verticals. Looking ahead, for the full-year 2023, YETI expects adjusted sales to rise in the range of 3% to 5%. EPS is anticipated to land between $2.12 and $2.23.
Overall, the Street has a $49.36 consensus price target on YETI pointing to a 14.6% potential upside in the stock.
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