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GlobeNewswire·

YETI Reports Third Quarter 2026 Results

YETI
  • YETI Holdings reported third quarter 2026 net sales of $509.4 million, a 4% increase, with adjusted net sales rising 6% to $517.9 million.
  • Drinkware sales grew 8% to $284.0 million while international sales surged 19% to $119.1 million.
  • Wholesale channel sales increased 19% to $237.3 million, whereas direct-to-consumer sales decreased 6% to $272.2 million.
  • Gross margin expanded 180 basis points to 57.7%, driven by lower net tariff costs, operational efficiency, & pricing discipline, partially offset by product recall reserves.
  • Adjusted gross margin increased 310 basis points to 59.0%, reflecting similar drivers excluding recall impacts.
  • Operating income rose 12% to $61.0 million (12.0% of sales), while adjusted operating income climbed 35% to $90.0 million (17.4% of adjusted sales).
  • Diluted EPS increased 25% to $0.60, with adjusted EPS jumping 49% to $0.91.
  • The company repurchased approximately 0.5 million shares for $20 million in the quarter, bringing total 2026 repurchases to roughly $150 million.
  • Inventory increased 22% to $394.2 million to support fourth quarter demand & 2027 growth following prior supply constraints.
  • YETI updated its 2026 outlook to reflect a more cautious consumer environment, lowering adjusted sales growth guidance to approximately 6% from the previous 7% to 8%.
  • Adjusted EPS for 2026 is now projected between $2.90 & $2.95, representing 16% to 18% growth, down from the prior $2.94 to $3.00 range.
  • Adjusted operating income margin for 2026 remains unchanged at approximately 14.9% of adjusted sales.
  • Free cash flow guidance for 2026 remains between $200 million & $225 million, with capital expenditures expected at $60 million to $70 million.
  • International expansion continues with new brand stores opening in Japan & Korea & an initial marketplace launch in China.
  • The company cited uneven demand in US & Canadian markets during the quarter but noted strong momentum in Europe, Australia, & Asia.
  • A conference call to discuss these results is scheduled for November 12, 2026, at 8:00 a.m. Eastern Time.
Company
YETI Holdings, Inc.
Keywords
NYSE:YETI, YETI Holdings, Inc.