YETI Holdings falls on downbeat profit forecast for 2023

YETI Holdings

23/02/2023 15:43

(Updates)
    ** Shares of water bottle maker YETI Holdings Inc  YETI.N 
fall ~4% to $38.26 as company 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
    ** Company 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
    ** Stock has fallen ~15% in the past 12 months
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com))