Yeti Holdings Inc. reported sales grew a less-than-expected 4 percent in the second quarter due to a more promotional drinkware category, caution from consumers and retail partners, and inventory constraints driven by supply chain transitions, but earnings easily topped expectations and the cooler specialist raised its EPS guidance for the year.

Sales reached $445.9 million, below analysts' consensus target of $461.72 million. Earnings were 66 cents per share, beating analysts' consensus estimate 54 cents per share.

Matt Reintjes, president and chief executive officer, commented, "We are making excellent progress on our long-term strategic priorities -- accelerating innovation, expanding our global brand, and diversifying our supply chain. We are seeing these strategies play out in the market with momentum in product innovation and diversification across our portfolio with notable strength in bags, our global expansion with exceptional performance in the UK and Europe and strong end user demand in Canada and Australia, and the transformational shift in our supply chain. Our brand continues to expand, connecting both domestically and, importantly, globally. Amidst a disruptive macroeconomic environment, we are positioning Yeti to deliver long-term, sustainable top and bottom-line growth supported by a strong financial foundation. Our strong balance sheet and robust free cash flow generation are enabling investment in growth initiatives while also advancing our capital allocation priorities, including share repurchases. We exited the second quarter with encouraging momentum across our key growth drivers, and we are seeing signs of continued improvement in the third quarter, reinforcing our confidence in the trajectory ahead."

Pursuant to our existing $450 million share repurchase authorization, in the second quarter of 2025, we repurchased approximately 745,000 shares of Yeti's common stock on the open market for $23.0 million. Based on our current expectations, we anticipate completing approximately $200 million in share repurchases during 2025. In addition, in August 2025, we acquired certain assets, including designs, tooling, and intellectual property, related to a shaker bottle for $38 million in cash.

Updated 2025 Outlook

Reintjes concluded, "Our confidence in the business and the underlying operating fundamentals supporting our full-year outlook remains unchanged. I'm particularly pleased with the execution on our ongoing supply chain transition which will meaningfully diversify our footprint and capabilities, positioning us for continued expansion and innovation driving long-term success. We are modestly lowering our top-line expectations to reflect a slightly more prolonged recovery in drinkware in the U.S. At the same time, we are raising our EPS outlook, primarily due to our strong operating execution and reflecting tariff reduction on China-sourced products, partially offset by increased tariffs on imports from other regions. As we look to the second half of 2025, we remain incredibly excited about the innovation we have planned, the continued strength and momentum of our brand, and the global opportunities we see in front of us."

For Fiscal 2025, a 53-week period, compared to a 52-week period in Fiscal 2024, Yeti expects: