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YETI
🇺🇸 NYSE:YETI
•
Dec 28, 2024

YETI Q4 2024 Earnings Report

Key Takeaways

YETI reported a 5% YoY revenue increase in Q4 2024, driven by strong international sales and growth in the Coolers & Equipment segment. However, operating margin contracted due to higher SG&A expenses. Adjusted EPS grew by 11%.

Total Revenue
$547M
Previous year: $520M
+5.1%
EPS
$1
Previous year: $0.9
+11.1%
Gross Margin
59.7%
Previous year: 60.6%
-1.5%
Adjusted Gross Margin
60.2%
Previous year: 60.2%
+0.0%
Operating Margin
15.1%
Previous year: 18.9%
-20.1%
Gross Profit
$326M
Previous year: $315M
+3.6%
Cash and Equivalents
$359M
Previous year: $439M
-18.3%
Free Cash Flow
$220M
Previous year: $159M
+37.7%

YETI Revenue

YETI EPS

YETI Revenue by Segment

YETI Revenue by Geographic Location

Forward Guidance

YETI expects 5%-7% revenue growth in FY 2025, with margin expansion and strong free cash flow despite FX headwinds.

Positive Outlook

  • Revenue expected to grow between 5% and 7%
  • Adjusted operating income projected to increase by 5.5%-7.5%
  • Adjusted EPS forecasted to grow 6%-8% to $2.90-$2.95
  • Strong free cash flow generation anticipated
  • Continued global expansion and product innovation

Challenges Ahead

  • Foreign exchange expected to be a 100 bps headwind on revenue growth
  • FX impact of $0.10 on adjusted EPS
  • Ongoing competitive pressures in the U.S. market
  • Expected near-term macroeconomic uncertainties
  • Increased promotional activity in the Drinkware segment

Revenue & Expenses

Visualization of income flow from segment revenue to net income