YETI HOLDINGS Reports Second Quarter FY2023 Earnings Results on August 10, 2023
August 23, 2023
🌥️Earnings Overview
On August 10 2023, YETI HOLDINGS ($NYSE:YETI) reported their earnings results for the second quarter of FY2023, ending June 30 2023. The total revenue for the quarter amounted to USD 402.6 million, representing a decrease of 4.2% compared to the same period in the previous year. Net income for the quarter was USD 38.1 million, a decrease of 17.7% when compared to the previous year.
Stock Price
On the day of the release, YETI HOLDINGS stock opened at $45.5 and closed at $46.4, representing a 17.3% increase from its last closing price of 39.6. This marked a significant jump in the stock’s value, signaling investor confidence in YETI HOLDINGS’ future performance. The results of the second quarter FY2023 showed an overall increase on all operational and financial metrics for YETI HOLDINGS. The impressive performance of YETI HOLDINGS is attributed to its strong focus on product innovation and customer service.
It has been able to drive sales growth through its commitment to quality products, as well as its ability to capture a larger share of the market with its expanding product range. Looking ahead, YETI HOLDINGS is set to continue its upward trend and is confident that it will be able to achieve sustained success in the future. With its strong financials, innovative products and customer-centric approach, YETI HOLDINGS is well positioned for growth and profitability going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Yeti Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 1.59k | 66.42 | 4.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Yeti Holdings. More…
| Operations | Investing | Financing |
| 204.24 | -57 | -18.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Yeti Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.09k | 498.23 | 6.77 |
Key Ratios Snapshot
Some of the financial key ratios for Yeti Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 18.7% | -6.0% | 5.7% |
| FCF Margin | ROE | ROA |
| 9.3% | 10.0% | 5.2% |
Analysis
GoodWhale recently conducted an analysis of YETI HOLDINGS’s wellbeing. Our Star Chart assessment found that YETI HOLDINGS is strong in terms of assets and growth, medium in profitability, and weak in dividends. We classified YETI HOLDINGS as a ‘rhino’ company, meaning it has achieved moderate revenue or earnings growth. Given this assessment, investors who are interested in companies with solid assets, moderate growth, and low dividend payouts may be interested in YETI HOLDINGS. Additionally, YETI HOLDINGS has a high health score of 10/10, indicating that it is capable of paying off debt and funding future operations. 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.
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Summary
YETI HOLDINGS reported their second quarter of FY2023 earnings on August 10 2023. Total revenue for the quarter was USD 402.6 million, a decline of 4.2% compared with the same quarter of last year. Net income for the quarter was USD 38.1 million, a decrease of 17.7%. Despite the drop in revenue and net income, the stock price increased on the same day.
This suggests that investors remain optimistic about the company’s financial performance in the future. Furthermore, the company’s cost-saving efforts and a focus on expanding market share have likely contributed to the stock’s positive reaction on the news. As such, investors should continue to monitor the company’s financial performance to determine if it is a good opportunity for long-term investing.
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