YETI Holdings Rises In Pre-market On Upbeat Q1 Results, Raised Outlook

(RTTNews) - Shares of YETI Holdings, Inc. (YETI), a designer, retailer and distributor of products for the outdoor and recreation market, were rising more than 12 percent in pre-market on Thursday to $39.21, after reporting upbeat quarterly results above analysts' view. The company also raised its full-year earnings outlook.

Net profit was $15.86 million, or $0.18 per share for the first quarter, up from $10.56 million, or $0.12 per share, in the same quarter a year ago.

Excluding items, YETI reported adjusted earnings of $29.32 million or $0.34 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.25 per share.

Revenue for the quarter rose 12.7 percent to $341.39 million from $302.80 million last year. The consensus estimate was for $333.31 million.

For the full year, the company now expects adjusted EPS to be in the range of $2.49- $2.62, compared with its previous outlook of $2.45 - $2.50. Sales for the quarter are still expected to increase between 7 percent and 9 percent.

Analysts expect to report earnings of $2.49 per share on revenue growth of 8.9%.

YETI shares had closed at $34.81, down 2.11 percent on Wednesday. The stock has been trading in the range of $33.88 - $54.16 in the last 1 year.