YETI expands board with new directors amid growth plans

AUSTIN - YETI Holdings, Inc. (NYSE:YETI), a renowned designer and distributor of outdoor products, has announced the appointment of J. Magnus Welander and Arne Arens to its Board of Directors, effective March 24, 2025. The company has also entered into a cooperation agreement with Engaged Capital, LLC, a significant stockholder. The appointments expand YETI’s Board to 10 members, with nine serving as independent directors. According to InvestingPro data, YETI maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 2.18, indicating robust liquidity.

The new board members are set to bolster YETI’s strategy and capitalize on future growth opportunities. Welander brings a wealth of experience from his tenure as CEO of Thule Group AB, a global lifestyle brand, while Arens’ background includes leadership roles at Boardriders, Inc. and The North Face, a subsidiary of V.F. Corporation. The company has demonstrated solid performance with revenue growth of 10.3% in the last twelve months and maintains a strong gross profit margin of 58.1%. InvestingPro analysis suggests the stock is currently trading below its Fair Value, presenting a potential opportunity for investors looking at the outdoor recreation sector.

Robert K. Shearer, YETI’s Board Chair, expressed confidence in the new directors’ ability to contribute to the company’s continued growth and stockholder value enhancement. Matt Reintjes, President and CEO of YETI, echoed this sentiment, highlighting the importance of Welander and Arens’ experience with global consumer brands to the company’s expansion plans.

Both Welander and Arens shared their enthusiasm for joining YETI’s Board, emphasizing their commitment to driving innovation and profitable growth. Glenn W. Welling, Founder and CIO of Engaged Capital, noted the importance of their expertise in guiding YETI’s management team as the company seeks to expand its product portfolio and enter new international markets.

YETI, headquartered in Austin, Texas, has built a strong following by consistently delivering high-quality products for outdoor enthusiasts. The company’s commitment to the outdoor and recreation communities is a cornerstone of its brand identity.

Engaged Capital, an investment advisor with a private equity-like approach in the U.S. public equity markets, has been working with YETI’s management and board to unlock value within the business. The cooperation agreement with Engaged Capital reflects this ongoing relationship aimed at fostering long-term stockholder value.

YETI’s forward-looking statements regarding future board appointments, collaboration with Engaged, and financial performance are subject to various risks and uncertainties that could cause actual results to differ materially. The company advises caution in relying on these statements and undertakes no obligation to update them except as required by law. Recent market data shows the stock has experienced significant volatility, trading near its 52-week low of $31.48, with a -16.5% year-to-date return. For deeper insights into YETI’s financial health and growth prospects, investors can access comprehensive analysis and 12 additional ProTips through InvestingPro’s detailed research reports.

This news article is based on a press release statement.

In other recent news, Yeti Holdings Inc. reported its fourth-quarter 2024 earnings, with earnings per share (EPS) of $1.00, exceeding expectations by $0.07. However, the company reported a slight revenue miss, with actual revenue at $546.5 million compared to the anticipated $552.31 million. Despite these mixed results, Yeti’s full-year sales rose by 9% to $1.84 billion, while operating income increased by 18% to $389 million. Analysts from Piper Sandler maintained an Overweight rating with a $52 price target, expressing confidence in Yeti’s growth potential both domestically and internationally. Meanwhile, TD Cowen adjusted its price target for Yeti to $38, maintaining a Hold rating, citing concerns over the U.S. market and a slowdown in domestic growth. Stifel also revised its price target for Yeti, lowering it to $40 while maintaining a Hold rating, despite Yeti’s optimistic forward-looking guidance for FY25. The company continues to focus on international sales and product innovation as key growth drivers, with significant growth noted in international markets, particularly in Europe and Australia.

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