Goldman Sachs
May 14, 2026
YETI Holdings 1Q26 First Take
Single Stock ReportEquitiesConsumer Discretionary
YETI reported a 1Q26 EPS beat ($0.26 vs. $0.18 consensus) and raised its full-year guidance, driven by a return to growth in US drinkware and strong wholesale performance.
Key Takeaways
- 1.YETI delivered a strong 1Q26 beat with adjusted EPS of $0.26 vs. the $0.18 consensus, driven by wholesale outperformance.
- 2.Management raised FY26 revenue and EPS guidance, signaling confidence despite macroeconomic uncertainty.
- 3.US drinkware returned to growth, although results were partially offset by a global slowdown in corporate sales which impacted DTC channels.
Table of Contents
- Guidance raised
- Management commentary
- Our view
- Questions for the quarterly call
- Key highlights
- Valuation and Key Risks
- Disclosure Appendix
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Authors
Brooke Roach, CFAMentesnot Adamu
Securities
YETI
Themes
Earnings Beat and Guidance RevisionConsumer Demand RecoveryMacroeconomic Headwinds (Tariffs/Inflation)
Regions
North AmericaGlobalUnited States