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Investing.com -- YETI raised its full-year earnings outlook after reporting third-quarter results that surpassed analyst expectations.
The company reported earnings per share of $0.61, topping consensus estimates of $0.58. Revenue rose 2% year-on-year to $487.8 million, ahead of the $480.3 million consensus forecast.
Growth was driven by solid performance in Coolers & Equipment, which offset weaker Drinkware sales, the company said.
YETI’s international revenue climbed 14% and U.S. sales slipped 1%.
Adjusted operating income fell 16% to $66.6 million, representing 13.7% of adjusted sales, compared with $79.2 million, or 16.6% of sales, in the prior-year quarter.
“Our third quarter results continue to show the strength of YETI and the positive momentum of our long-term growth strategy. Anchored in accelerating product innovation, a powerful and growing global brand, and expanding international reach, we are seeing meaningful wins across all three strategic growth pillars," said Matt Reintjes, President and CEO.
"As we look beyond 2025, continued execution against these three pillars sets YETI on the path to a long-term topline growth range of high-single-digits to low-double-digits."
For fiscal 2025, YETI expects earnings per share between $2.38 and $2.49, slightly above its previous range of $2.34 to $2.48 and in line with the $2.42 analyst consensus.
The company now forecasts adjusted sales growth of 1% to 2%, compared with its prior guidance of flat to up 2%. The outlook includes an expected 300 basis point headwind from supply chain transformation efforts.