YETI Holdings Beat Q2 Estimates Despite Lower Sales, Raises 2023 Earnings Outlook; Shares Surge Higher
Portfolio Pulse from Nabaparna Bhattacharya
YETI Holdings, Inc. reported Q2 2023 sales of $402.56 million, a 4% decrease Y/Y, missing the consensus of $411.64 million. The company's adjusted EPS of 0.57 beat the street estimate of $0.47. Despite lower sales, YETI raised its FY23 adjusted EPS outlook to $2.23-$2.32, up from the previous view of $2.12-$2.23. The company also increased its FY23 sales growth outlook to 4%-5%. Following the announcement, YETI shares surged 19.5%.
August 10, 2023 | 2:08 pm
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YETI Holdings reported lower than expected Q2 2023 sales but beat EPS estimates. The company raised its FY23 EPS and sales growth outlook, which led to a surge in its share price.
YETI's Q2 2023 sales fell short of expectations, which could have negatively impacted its stock. However, the company beat EPS estimates and raised its FY23 outlook, which are positive indicators for the company's future performance. This likely led to increased investor confidence, resulting in a surge in YETI's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100