YETI Holdings (YETI) reports prelim Q4 sales; raises guidance

YETI Holdings reports prelim Q4 sales +19% y/y to $241.2 mln vs $226.4 mln consensus and raises FY18 adj EPS/EBITDA guidance

• Q4 net sales in the direct-to-consumer channel increased 45% to $110.5 million, and net sales for the wholesale channel increased 4% to $130.7 million. Drinkware net sales increased 24% to $143.5 million, and Coolers & Equipment net sales +10% to $91.2 million.
• Updated FY18 outlook: adj EPS of $0.88-0.90, up from $0.79-0.82, vs $0.78 consensus. Adjusted EBITDA is now expected to be $147-149 million (versus the previous outlook of $141 million to $144 million), as compared to $97.5 million last year. Capital expenditures are still expected to be $21 million to $24 million, as compared to $42.2 million last year.