YETI - Why Yeti Stock Jumped Higher Today
2024-05-09 12:38:46 ET
Shares of cooler and insulated drinkware maker Yeti Holdings (NYSE: YETI) jumped higher on Thursday after the company reported stronger-than-expected financial results for the first quarter. As of 11:15 a.m. ET, Yeti stock was up 12% today.
For the first quarter, Yeti generated net sales of $341 million, up 13% year over year. The company showed growth across product categories, sales channels, and geographic regions -- everything came in fairly strong. That said, sales numbers were what management expected, as evidenced by its decision to keep full-year guidance the same as what it gave out in February.
Yeti's profit margins improved in the first quarter, which is likely what investors are more excited about today. G ross margin was 57.1% compared to 53.5% in the prior-year period. And its adjusted operating margin was at 11.6%, compared to 7.2% last year.
For further details see:
Why Yeti Stock Jumped Higher Today