Earnings Report: May 11, 2023

 Earnings Report: May 11, 2023

    Today is a lot lighter than the previous days with only one of my holdings reporting earnings. Yeti reported earnings before the market opened this morning. I will go over their earnings release and give my opinion on where the company stands. 

YETI Holdings, Inc. (YETI)- Yeti reported earnings before the market opened this morning. The stock is seeing a slight increase in share price after the company beat on the top and bottom line compared to estimates. Net sales saw an increase of 3%, despite the company having to recall some products in the quarter. They also were able to expand gross margins. Yeti introduced the GoBox cargo family, were able to build new color customizations on the Yonder bottle, and they are growing their expansion outside the United States. The products that were recalled will be fixed and back on the market by the fourth quarter. Gross margins saw positive growth for the first time in seven quarters. Guidance was reiterated with no changes and show optimism for a good year.

My Thoughts: Yeti is a company that is popular in the state that I live in. It is almost a status when people see you with a Yeti, and that is one of the main reasons I invested into the company. It is like a luxury item and you are seen in a certain way when you are using their products. Despite this, the products are wonderful and the company is doing a wonderful job of expanding into markets outside of the United States. I am surprised to see such a nice sales growth with the challenges the company faced this quarter. I am optimistic about the future of the company as they diversify their product base and innovate new products to put on the market. Just a side note, the stores are really cool. So if you have one near you, I would recommend you visit. 


Thanks for reading, short and sweet today.


Information was pulled from the earnings release. 

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