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Sep 27
YETI Q3 2025 Earnings Report
YETI reported its financial results for the third quarter ended September 27, 2025, with net sales increasing 2% and adjusted EPS decreasing 14%.
Key Takeaways
YETI delivered a mixed performance in Q3 2025, with net sales increasing by 2% to $487.8 million, driven by strong international growth and Coolers & Equipment sales. However, profitability declined, with EPS decreasing 27% to $0.48 and adjusted EPS decreasing 14% to $0.61, largely due to higher tariff costs and a lower mix of Drinkware sales. The company also updated its 2025 outlook, increasing its share repurchase target.
Net sales increased by 2% to $487.8 million, compared to $478.4 million in the prior year quarter.
Diluted EPS decreased by 27% to $0.48, while Adjusted EPS decreased by 14% to $0.61.
International sales grew by 14% to $100.4 million, while US sales declined by 1% to $387.3 million.
Coolers & Equipment sales increased by 12% to $215.4 million, partially offset by a 4% decrease in Drinkware sales to $263.8 million.
YETI
YETI
YETI Revenue by Segment
YETI Revenue by Geographic Location
Revenue by Segment
Direct-to-Consumer Revenue
CapyFin.comWholesale Revenue
CapyFin.comDrinkware Revenue
CapyFin.comCoolers & Equipment Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
YETI updated its 2025 outlook, expecting adjusted sales to increase 1% to 2% and adjusted operating income as a percentage of adjusted sales between 14.0% and 14.5%. The company also increased its share repurchase target to $300 million and anticipates approximately $200 million in free cash flow.
Positive Outlook
- Adjusted sales expected to increase 1% to 2%, an improvement from the previous outlook.
- Adjusted net income per diluted share guidance raised to between $2.38 and $2.49.
- Share repurchase target increased to $300 million, reflecting confidence in financial strength.
- Free cash flow expected to be approximately $200 million, at the high end of the previous outlook.
- Supply chain transformation is on track, diversifying manufacturing and enhancing operational resilience.
Challenges Ahead
- Adjusted sales outlook includes an approximately 300 basis point unfavorable impact related to supply chain transformation.
- Adjusted operating income outlook reflects an approximate 230 basis point unfavorable net impact from higher tariff costs.
- Adjusted net income per diluted share outlook includes an approximately $0.40 net unfavorable impact from higher tariff costs.
- The retail environment is expected to remain cautious.
- The company continues to navigate a disruptive and fluid tariff environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income