Yeti Lowers Full-Year Outlook as Third-Quarter Sales Miss Street Views

09:45 AM EST, 11/12/2026 (MT Newswires) -- Yeti (YETI) lowered its full-year outlook on Thursday amid expectations of a cautious consumer environment during the holiday quarter, while the outdoor products company's third-quarter sales missed market estimates. The company now expects adjusted earnings of $2.90 to $2.95 per share for fiscal 2026, down from its previous guidance range of $2.94 to $3. Sales are now pegged to increase about 6%, compared with prior projections for growth of 7% to 8%. The consensus on FactSet is for non-GAAP EPS of $2.98 and sales to rise by 7.6% for the year. "Looking ahead, we anticipate the consumer environment will remain cautious and put pressure on demand in (the fourth quarter)," Chief Executive Matt Reintjes said in a statement. Yeti continued to see encouraging performance across several areas of its business despite consumers becoming increasingly selective with discretionary purchases, Reintjes said. The company plans to remain on the "offense" despite taking "a more cautious view of demand" for the remainder of 2026, focusing on expanding its market reach through its sales strategy while improving profitability, the CEO added. For the third quarter ended Oct. 3, the company's sales rose 4% year over year to $509.4 million, but missed the Street's view for $523.1 million. Adjusted EPS surged to $0.91 from $0.61, ahead of the average analyst estimate of $0.84. Shares of the company fell 5.7% in Thursday trading. The stock has lost 9% so far this year. In a client note shared last week, UBS Securities said it expected Yeti to record sales growth of 6.4%. The brokerage viewed a reiteration of the company's full-year guidance as its base-case scenario. Sales of coolers and equipment were flat at $215.6 million, while drinkware rose 8% to $284 million amid growth in the US and international markets. Direct-to-consumer sales declined 6%, while wholesale sales climbed 19%. "While demand was uneven at times during the quarter, particularly in the US and Canadian markets, the expanding diversity of our products, channels, and geographies strongly supported our overall performance," Reintjes said. Newell Brands (NWL), whose Contigo and Coleman brands compete with Yeti in drinkware and coolers, raised its full-year sales growth outlook to 2% to 3% from 1% to 2% on Oct. 30. Hydro Flask maker Helen of Troy (HELE) is expected to release its latest financial results in January. Price: 40.20, Change: -2.59, Percent Change: -6.05