YETI Holdings, Inc. (NYSE: YETI) reported Q4 EPS of $0.74, $0.11 better than the analyst estimate of $0.63. Revenue for the quarter came in at $375.8 million versus the consensus estimate of $352.53 million.

• Fourth Quarter Net Sales Increased 26%; Full Year Increased 19%
• Fourth Quarter Gross Margin Expanded 530 Basis Points; Full Year Expanded 560 Basis Points
• Fourth Quarter EPS of $0.71; Adjusted EPS of $0.74
• Full Year EPS of $1.77; Adjusted EPS of $1.87
• Provides Fiscal Year 2021 Outlook

Matt Reintjes, President and Chief Executive Officer, commented, “Our remarkable fourth quarter and full year performance reflects the ongoing vitality and relevance of our brand with customers as well as the incredible dedication of and strong execution by our global employees. Our fourth quarter results were highlighted by 26% net sales growth, record gross margin of nearly 60% and over $250 million in cash following an additional $100 million voluntary debt payment at the end of the quarter. This strong quarter culminated a year that saw YETI cross the $1 billion in net sales milestone driven by 19% topline growth. Our revenue growth combined with expanding margins generated over 75% adjusted EPS growth – significantly ahead of our initial outlook during an unprecedented year of disruptions and challenges.”

GUIDANCE:

YETI Holdings, Inc. sees FY2021 EPS of $2.11-$2.14, versus the consensus of $2.07.

For Fiscal 2021, a 52-week period, compared to a 53-week period in Fiscal 2020, YETI expects:

• Net sales to increase between 15% and 17% with sales growth weighted to the first half of the year;
• Operating income as a percentage of net sales of approximately 18.5%;
• Adjusted operating income as a percentage of net sales of approximately 20.0%;
• An effective tax rate of approximately 24.5%;
• Net income per diluted share to be between $1.95 and $1.98, reflecting a 10% to 12% increase, with earnings growth heavily weighted to the first and fourth quarter;
• Adjusted net income per diluted share between $2.11 and $2.14, reflecting a 13% to 15% increase, with earnings growth heavily weighted to the first and fourth quarter;
• Diluted weighted average shares outstanding of approximately 88.6 million; and
• Capital expenditures between $55 million and $60 million, primarily to support investments in technology and new product innovation and launches.

For earnings history and earnings-related data on YETI Holdings, Inc. (YETI) click here.