Yeti (YETI) is the IBD Stock of the Day after crushing Q3 earnings estimates as "accelerating interest" in active lifestyles during the pandemic fueled its premium outdoor products business. Yeti stock broke out but is already extended.
Profit soared 126% to 61 cents per share, smashing views for 37 cents. Revenue rose 29% to $294.61 million and also beat views for $264.73 million. That marked a big acceleration from the prior quarter, when Yeti earnings grew 37% on a 7% sales gain.
Coolers and Drinkware drove results, up 27% and 31% respectively. Yeti cited "continued strong demand for outdoor recreation and leisure lifestyle products and an increasing shift to online shopping," as a result of the ongoing coronavirus pandemic.
1% CAPITAL
Profit soared 126% to 61 cents per share, smashing views for 37 cents. Revenue rose 29% to $294.61 million and also beat views for $264.73 million. That marked a big acceleration from the prior quarter, when Yeti earnings grew 37% on a 7% sales gain.
Coolers and Drinkware drove results, up 27% and 31% respectively. Yeti cited "continued strong demand for outdoor recreation and leisure lifestyle products and an increasing shift to online shopping," as a result of the ongoing coronavirus pandemic.
1% CAPITAL