YETI (YETI) Q1 Earnings: What To Expect

Outdoor lifestyle products brand (NYSE:YETI) will be reporting earnings tomorrow morning. Here's what you need to know.

YETI missed analysts' revenue expectations by 3% last quarter, reporting revenues of $519.8 million, up 16% year on year. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' earnings estimates.

Is YETI a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting YETI's revenue to grow 10.1% year on year to $333.3 million, improving from the 3.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. YETI has missed Wall Street's revenue estimates four times over the last two years.

Looking at YETI's peers in the leisure products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Johnson Outdoors's revenues decreased 13% year on year, beating analysts' expectations by 10.8%, and Ruger reported a revenue decline of 8.5%, falling short of estimates by 10.8%. Johnson Outdoors traded down 11.7% following the results.

Read our full analysis of Johnson Outdoors's results here and Ruger's results here.

Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the leisure products stocks have fared somewhat better, they have not been spared, with share prices down 2.1% on average over the last month. YETI is down 10.4% during the same time and is heading into earnings with an average analyst price target of $43.8 (compared to the current share price of $35.1).

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