YETI Holdings falls on downbeat profit forecast for 2023

YETI Holdings

23/02/2023 13:04

** Shares of water bottle maker YETI Holdings Inc  YETI.N 
down ~10% at $35.71 premarket as co forecasts FY profit below
expectations
    ** Sees 2023 adj profit between $2.12/shr and $2.23/shr vs
est of $2.82- Refinitiv IBES data
    ** Co sees gross margin improvement through the year but
says operating expenses to stay high  
    ** YETI misses Q4 sales and profit estimates, reflecting
impact of lingering supply chain costs and voluntary recall of
its backpack coolers
    ** Up to Wednesday's close, stock had fallen ~32% in the
past 12 months 
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))