2024-02-15 11:17:03 ET
YETI Holdings, Inc. (YETI)
Q4 2023 Earnings Conference Call
February 15, 2024 08:00 A.M. ET
Company Participants
Thomas D. Shaw - VP, IR
Matthew J. Reintjes - President and CEO
Michael J. McMullen - SVP, CFO and Treasurer
Conference Call Participants
Brooke Roach - Goldman Sachs
Peter Benedict - Robert W. Baird
Peter Keith - Piper Sandler
Robert Ohmes - Bank of America Securities
James Duffy - Stifel, Nicolaus & Company
Noah Zatzkin - KeyBanc Capital Markets
Megan Alexander - Morgan Stanley
Brian McNamara - Canaccord Genuity
Zach Riddle - William Blair
Presentation
Operator
Good day and welcome to the YETI Holdings' Fourth Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note that this event is being recorded. I would now like to turn the conference over to Tom Shaw, Vice President of Investor Relations. Please go ahead.
Thomas D. Shaw
Good morning and thanks for joining us to discuss YETI Holdings' fourth quarter and fiscal 2023 results. Leading the call today will be Matt Reintjes, President and CEO; and Mike McMullen, CFO. Following our prepared remarks, we'll open the call for your questions.
Before we begin, we'd like to remind you that some of the statements that we make today on this call may be considered forward-looking, and such forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. For more information, please refer to the risk factors detailed in our most recently filed Form 10-Q and the Form 8-K filed with the SEC today. We undertake no obligation to revise or update any forward-looking statements made today as a result of new information, future events or otherwise, except as required by law.
Unless otherwise stated, our financial measures disclosed on this call will be on a non-GAAP basis. We use non-GAAP measures as we believe they more accurately represent the true operational performance and underlying results of our business. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in the press release or in the presentation posted this morning to our Investor Relations section of our website at YETI.com. And now, I'd like to turn the call over to Matt.
Matthew J. Reintjes
Thanks, Tom and good morning everyone. I would like to start our call with some perspective on YETI’s 2023 and how it informs 2024. YETI delivered a solid year of growth in gross margin expansion even with one of our more challenging fourth quarters. We continue to see real strength in our brand and momentum in our drinkware business. While at the same time we saw inconsistent consumer spending in the fourth quarter on our coolers product. Overall, we remain confident about YETI brand and potential as we continue to expand our product and our audiences....
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YETI Holdings, Inc. (YETI) Q4 2023 Earnings Call Transcript