Why Yeti Stock Was Down on Thursday
Shares of Yeti Holdings (NYSE: YETI) are falling today, down by 17% as of 12:58 p.m. ET after the company reported disappointing earnings results for Q2.
Sales growth was consistent with the last two quarters, coming in at 17% year over year. But management noted that elevated operating costs relating to higher fuel prices impacted profitability.
Higher logistics and distribution costs are the only negatives from the earnings report. These headwinds caused gross margin to fall over 6 percentage points. This translated into an 18% drop in net profit on the bottom line. Other than that, Yeti is performing well.
Source Fool.com
