Yeti reported net income of $30.5 million for the quarter that ended April 3. On a per-share basis, the company said it had net income of 35 cents. Earnings, adjusted for one-time gains and costs, came to 38 cents per share.
The results surpassed Street forecasts the average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
Revenue increased 42% to $247.6 million, compared to $174.4 million during the same period last year. Those results also exceeded Street expectations, as seven analysts surveyed by Zacks expected $221.8 million.
Yeti expects full-year earnings in the range of $2.28 to $2.32 per share. Building on the outstanding financial performance in the first quarter, we are focused on investments that will accelerate our future growth through global product and channel expansion, innovative marketing, and growing digital capabilities, said Matt Reintjes, Yeti CEO. We believe that these efforts will not only fo