Why Yeti Stock Jumped Higher Today
Shares of cooler and insulated drinkware maker Yeti Holdings (NYSE: YETI) jumped higher on Thursday after the company reported stronger-than-expected financial results for the first quarter. As of 11:15 a.m. ET, Yeti stock was up 12% today.
For the first quarter, Yeti generated net sales of $341 million, up 13% year over year. The company showed growth across product categories, sales channels, and geographic regions -- everything came in fairly strong. That said, sales numbers were what management expected, as evidenced by its decision to keep full-year guidance the same as what it gave out in February.
Yeti's profit margins improved in the first quarter, which is likely what investors are more excited about today. Gross margin was 57.1% compared to 53.5% in the prior-year period. And its adjusted operating margin was at 11.6%, compared to 7.2% last year.
Source Fool.com
