YETI Holdings Q3 Profit, Revenue Beat View; Updates Outlook; Stock Up In Pre-market

(RTTNews) - YETI Holdings, Inc. (YETI), a maker of outdoor products, Thursday reported net income of $56.28 million or $0.66 per share for the third quarter, higher than $42.66 million or $0.49 per share in the same quarter a year ago. Earnings as well as revenue beat analysts' view. The company's shares were trading more than 4 percent up in pre-market.

Excluding one-time items, earnings were $60.4 million or $0.71 per share, that beat the average estimate of 17 analysts polled by Thomson-Reuters of $0.67 per share. Analysts' estimates typically exclude special items.

Operating income increased 13 percent year-on-year to $69.6 million, while adjusted operating income rose 11 percent to $79.2 million.

Sales for the quarter grew to $478.44 million from $433.56 million in the previous year. The consensus estimate was for $471.29 million.

Looking ahead, the company now expects adjusted EPS to be about $2.65 for the full year, and adjusted sales to increase nearly 9 percent. Previously it was expecting adjusted EPS in the range of $2.61 - $2.65 on sales growth of 8 percent - 10 percent. Analysts expect the company to report earnings of $2.64 per share on sales growth of 10.4 percent.

YETI stock had closed at $36.13, down 3.01 percent on Wednesday. It has traded in the range of $33.41 - $54.16 in the last 1 year.