Drinkware sales boost Yeti’s performance

  • Yeti stock gains 0.9% after beating earnings expectations
  • Full-year outlook raised due to increased gross margin
  • Drinkware sales rose 6%, while coolers and equipment sales fell 8%
  • Gross margin improved to 58.0% from 51.3%
  • Yeti lifts adjusted EPS outlook for 2023

Shares of Yeti Holdings Inc. gained 0.9% in premarket trading after the company reported better-than-expected earnings for the third quarter. Yeti also raised its full-year outlook, citing an increase in gross margin. Drinkware sales saw a 6% increase, while sales of coolers and equipment fell by 8%. The company’s gross margin improved to 58.0% from 51.3%, driven by lower freight and product costs. Yeti has also lifted its adjusted EPS outlook for 2023. Overall, the company’s strong performance in drinkware sales has contributed to its stock gains and positive outlook.

Public Companies: Yeti Holdings Inc. (YETI)
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Factuality Level: 8
Justification: The article provides specific details about Yeti Holdings Inc.’s third-quarter earnings, including net income, adjusted earnings per share, and sales figures. The information is sourced from the company’s financial reports and the FactSet consensus. There is no irrelevant or misleading information, and the article does not contain any bias or personal perspective. Overall, the article appears to be factually accurate and objective.

Noise Level: 7
Justification: The article provides relevant information about Yeti Holdings Inc.’s third-quarter earnings and outlook. It includes details about the company’s net income, adjusted earnings per share, sales, and gross margin. However, it lacks analysis of long-term trends or antifragility, and does not hold powerful people accountable or explore the consequences of decisions. It also does not provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Yeti Holdings Inc.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of Yeti Holdings Inc., with information on their earnings, sales, and outlook. There is no mention of any extreme event.

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