YETI HOLDINGS Reports FY2023 Q2 Financial Results on August 10th

🌥️Earnings Overview

On August 10, 2023 YETI HOLDINGS ($NYSE:YETI) reported their financial results for Q2 of FY2023, ending June 30, 2023. Total revenue for the quarter amounted to USD 402.6 million, a decrease of 4.2% year-over-year, while net income declined 17.7% to USD 38.1 million.

Market Price

On Thursday, August 10th, YETI HOLDINGS reported their fiscal year 2023 Q2 financial results. The stock opened at $45.5 and closed at $46.4, reflecting a 17.3% jump from the prior closing price of 39.6. This surge in stock price further exemplifies investor confidence in the company’s financial performance. This impressive margin reflects YETI HOLDINGS’ commitment to improving their financial performance through cost-cutting measures and investments in new product lines.

This dividend is just one of the many ways that YETI HOLDINGS is committed to ensuring long-term growth for their shareholders. In light of these strong Q2 financial results, investors remain optimistic that the company will continue its impressive growth trajectory. With a steady increase in demand for their products, YETI HOLDINGS is well-positioned to capitalize on the current market conditions and further solidify its status as a leader in the outdoor goods industry. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Yeti Holdings. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Yeti Holdings. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Yeti Holdings. More…

Key Ratios Snapshot

Some of the financial key ratios for Yeti Holdings are shown below. More…

Analysis

At GoodWhale, we recently conducted an analysis of YETI HOLDINGS‘ wellbeing. Based on our Star Chart, YETI HOLDINGS is strong in asset, growth, medium in profitability and weak in dividend. We classify YETI HOLDINGS as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for companies with good asset and growth potential may be interested in YETI HOLDINGS. The company has a high health score of 10/10 with regard to its cashflows and debt, which means it is capable to safely ride out any crisis without the risk of bankruptcy. This stability combined with its moderate growth makes YETI HOLDINGS a good choice for those investors looking for a steady return. More…

Peers

In recent years, the competition between YETI Holdings Inc and its competitors has intensified, as each company strives to gain market share in the highly competitive cooler and drinkware industry. While YETI has long been the market leader, its competitors are quickly catching up, offering products that are comparable in quality and price. As the competition heats up, it will be interesting to see which company comes out on top.

– Tandem Group PLC ($LSE:TND)

Tandem Group PLC is a holding company that engages in the design, manufacture, and distribution of bicycles and bicycle related products. The company operates through the following segments: Bicycles, Components, and Others. The Bicycles segment designs, manufactures, and sells complete bicycles, electric bicycles, and folding bicycles. The Components segment manufactures and sells bicycle components and wheels. The Others segment includes the group’s online retailing business. Tandem Group was founded by Frank Bowden in 1885 and is headquartered in Coventry, the United Kingdom.

– Bonny Worldwide Ltd ($TWSE:8467)

Bonny Worldwide Ltd is a publicly traded company with a market capitalization of 2.57 billion as of 2022. The company has a return on equity of 16.57%. Bonny Worldwide Ltd is engaged in the business of providing offshore oil and gas services. The company has a fleet of offshore support vessels that it uses to provide services to the oil and gas industry.

– Bollinger Industries Inc ($OTCPK:BOLL)

Bollinger Industries Inc is a publicly traded company with a market capitalization of 262.12k. The company manufactures and sells a variety of products, including electric vehicles, towing products, and other related accessories. Bollinger Industries was founded in 1984 and is headquartered in New York, New York.

Summary

YETI HOLDINGS recently released financial results for the second quarter of FY2023, reporting a total revenue of USD 402.6 million and a net income of USD 38.1 million. The year-over-year comparison revealed a 4.2% decrease in revenue and 17.7% decrease in net income compared to the same period last year. Despite this decline, the stock price moved up on the news, suggesting that the investor sentiment for YETI HOLDINGS remains positive. Going forward, investors should consider reviewing the company’s balance sheet, cash flow statement, and other financials to better assess the future prospects for YETI HOLDINGS.