YETI Holdings To Buy Back $300 Mln Of Shares; Guides Annual Profit, Sales Below View - Update

(RTTNews) - (Adds Outlook, Share Buyback)

YETI Holdings, Inc. (YETI) has announced that its Board has approved a share repurchase program of up to $300 million.

Looking ahead, for the full year, the company has initiated earnings and sales guidance below analysts' estimates.   Excluding items, Yeti expects annual income of $214.437 million or $2.45 per share to $218.452 million or $2.50 per share, below the analysts' average estimate of $2.68 per share. The company expects adjusted net sales of $1.798 billion to $1.831 billion, below the analysts' estimate of $1.85 billion.

Below are the Q4 earnings highlights for YETI Holdings:

Earnings: $78.593 million in Q4 vs. -$27.738 million in the same period last year. EPS: $0.90 in Q4 vs. -$0.32 in the same period last year. Excluding items, YETI Holdings, Inc. reported adjusted earnings of $78.776 million or $0.90 per share for the period.

Analysts projected $0.96 per share Revenue: $519.793 million in Q4 vs. $447.996 million in the same period last year.