Outdoor lifestyle products brand (NYSE:YETI) will be announcing earnings results tomorrow before market open. Here's what you need to know.
YETI beat analysts' revenue expectations by 2.4% last quarter, reporting revenues of $341.4 million, up 12.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates and strong earnings guidance for the full year.
Is YETI a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting YETI's revenue to grow 12.4% year on year to $452.4 million, a reversal from the 4.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.63 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. YETI has missed Wall Street's revenue estimates four times over the last two years.
Looking at YETI's peers in the leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Harley-Davidson delivered year-on-year revenue growth of 12%, beating analysts' expectations by 27.2%, and Latham reported a revenue decline of 9.6%, topping estimates by 2.2%. Harley-Davidson traded up 8.7% following the results.
Read our full analysis of Harley-Davidson's results here and Latham's results here.
Investors in the leisure products segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. YETI is up 7.3% during the same time and is heading into earnings with an average analyst price target of $44.8 (compared to the current share price of $38.94).
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