YETI (NYSE:YETI) Soars 11.58% As it Exceeds Q1 ExpectationsYETI (NYSE: NYSE:YETI ) reported better-than-expected Q1 CY2024 results, with revenue up 12.7% YoY to $341.4 million. The company made a non-GAAP profit of $0.34 per share, improving from its $0.18 per share in the same quarter last year. YETI's Q1 CY2024 highlights included a balanced, double-digit growth across both wholesale and direct-to-consumer channels, as well as Drinkware and Coolers & Equipment categories. The international sales mix reached a record 19%, and domestic growth re-accelerated. Profitability continued to show strength with both adjusted gross margin and adjusted operating margin expanding nearly 450 basis points during the period.
YETI specializes in durable outdoor goods, including coolers, drinkware, and other gear tailored to adventure enthusiasts. Its long-term performance can give signals about business quality, but its recent history shows the business has slowed as its annualized revenue growth of 7.9% over the last two years is below its five-year trend. This quarter, YETI reported robust year-on-year revenue growth of 12.7%, and its $341.4 million of revenue exceeded Wall Street's estimates by 2.4%. Looking ahead, Wall Street expects sales to grow 8% over the next 12 months, a deceleration from this quarter.
YETI's free cash flow margin has averaged 8.4% over the last two years, subpar for a consumer discretionary business. In Q1, YETI burned through $114.3 million of cash, equivalent to a negative 33.5% margin, reducing its cash burn by 101% YoY. Analysts predict that YETI's cash profitability will fall over the next year, with their consensus estimates implying its LTM free cash flow margin of 10.5% will decrease to 7.9%.
Technical Outlook
NYSE:YETI stock is up 11% on Thursday's Market trading forming an Upside-gap due to the earnings result with a Relative Strength Index (RSI) of 60 which is slightly overbought.
YETI
YETI Long & Short, timing is everything.YETI
Short Term View: Long
Descending wedge still has room to develop. Watching for a breakout to the upside and targeting $92 area. Stock has sold off 30% from the top and if it continues its downtrend to the bottom channel it will be -35%. A rebound is likely with upcoming earnings unless the overall market goes into full crisis mode.
Long Term View: Short
Assuming this bounces from oversold levels, I am looking to initiate a short position due to overall market and a lot of other names already crashing (ZM, OSTK, PTON, etc, etc.) Along with what i see to be earnings deceleration on a lot of companies after the stimulus dried up, no unemployment, inflation pressures, interest rates, fed tapering, etc.
$YETI FOLLOW THE TREND -Yeti picked up the trend on the 9-day and as yall can see we pulled right back to it
-we shall see a continuation of the trend as long as we do not fall below the 9-day
-the green cloud is telling us the bullish momentum we got going on so we have 2 confirmations for the entry your third confirmation should be price action on monday and then you can take an entry
YETI - impulse waveOutcome Predictions
- (pink) price continues with uptrend until after earnings report. stock hits price high for wave again before correction and EMA folding over before 5th wave
- (blue) EMAs fold over now with larger drop to $62
- (purp) correction already over
Patterns
- two nearly identical bull runs
- may have already seen same $12.50 drop twice
- third stair would create 5 wave uptrend
- steady and significant earnings growth for last 3 years
Other Factors
- extremely strong brand
- dominance in general market sustained by dominance in specific markets (eg. fishing), unlike competitors (hydro flask)
- upcoming earnings report
Doubts
- the patterns I mentioned are kinda silly
- no major signals, these are pretty much wild guesses
*** WARNING ***
I am very new to this, don't trust me!
Get your Trading View subscription at the lowest possible cost !Hello everyone,
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Orangutant pattern ( CHINA APE )
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Looking at Yeti stock (and yes I own one of their mugs)I thought about this chart because as I am typing I am drinking from a Yeti mug. I am familiar with the brand and a lot of young people are as well. They really do have a strong presence and are smart marketers. With that being said, I have never owned or traded this, but am well aware of it and have had it on my watchlist.
The chart I have here shows YETI since its IPO. It did have the greatest IPO debut, and eventually, like everything else, it got crushed going into the Covid crash. But, since then, it has really ripped higher. It made all-time highs not long ago.
This is probably due to the fact the company has a strong online presence as is and ships things fast and with ease. They were born online and through social media. So perhaps the stay at home orders are actually helping them! Now, the only thing I will say, is the revenue trend. If I am going to get involved at all, I need to see revenue spike. I've circled this in red at the bottom of the chart.
Anyways, no trades yet, but writing this to let you know I am watching it. It's on my Watchlist.
$MNS breakout to new ATHs Great ER forecast catalyst$MNST beverage co. hit ATHs this AM then sold off into the afternoon. Stock moves slow but steady. Monster should be in line to report a terrific quarter with monthly sales #'s at all time highs and CFO said they are in line for highest profit quarter in their company history. Positive technical signals w the MACD crossover to positive, above all MAs, volume increasing as earnings approach. Stock has been consolidating for some time but has made a nice move up lately. Another consumer discretionary/consumer staple stock that could be late to the party like a $WMT and $COST too. Think this can hit 80+ with a ER crush and they do have the greatest returns out of any public company traded on the NYSE in the past 20 years! $MNST Monster Beverages kills it.
YETI (YETI) Breaking out of a narrowing range. Due to the strong Beta of Yeti (2.96 [Stock moves 2.96x as fast as avg of market direction), expect a rip up if the "santa claus" rally truly takes off.
Volume is indicative of a move north, in addition to the clear consolidation, and break through upward channel price of $37.75.
YETI's expansion into international markets and their continued uptrend make for both a great swing trade in addition to a long position in the company.
As always...DYOR
YETI CHANNEL CHECK. YETI IS SOLD OUT! HUGE EARNINGS BEAT COMING?We are following YETI and SONO to see if the buyout rumors are true for either stock. We have not taken a position in either stock yet.
Late yesterday, we called in a channel check on YETI products. The company is sold out of many items.
We tried to order four (4), 14 oz Rambler Mugs, a majority of the colors are sold out and many others are on backorder.
Search Amazon for YETI Rambler 14 oz Stainless Steel Vacuum Insulated Mug with Lid and you'll see the mug is limited in colors and many are not available.
This is one (1) online store, this is one (1) item from YETI, add up every retailer that sells YETI and you have a possible explosion in earnings next qtr.
If YETI doesn't blow past earnings estimates next qtr, we will be shocked.
This is just an update for the people that purchased the stock.
Happy Holidays, Merry Christmas and Best of Luck with your trades!
BUYOUT RUMOR. NEWELL & YETIYesterday YETI made a run upwards of $35.50 due to a buyout rumor.
The rumor...Newell might make an offer for YETI somewhere between $42 and $45 a share.
Judging by the sales of YETI products on just Amazon alone, not counting any other store, YETI's next qtr numbers should be a blockbuster!
We are sitting on the sidelines of this rumor as we are with SONO. We do not own either stock.
Both stocks in our opinion, "could" be spectacular buyouts for another company looking to expand their product lines, revenue and net profits.
Newell owns Paper Mate,Sharpie, Dymo, EXPO, Parker, Elmer's, Coleman, Marmot, Oster, Sunbeam, FoodSaver, Mr. Coffee, Graco, Baby Jogger, NUK, Calphalon, Rubbermain, Contigo, First Alert and Yankee Candle.
It's crazy to think with all these TOP SELLING / POPULAR brands, Newell is only trading around $18.75.
The big kicker with Newell, the company pays an almost 5% dividend. If Newell took the huge dividend away and concentrated on boosting EPS, the stock would probably jump extremely higher.
If Newell buys YETI, the sale should immediately boost Newell's earnings pushing Newell stock price upwards of $25 a share.
Lets see what happens and if the Wall Street rumor plays out!
Best of Luck and Merry Christmas!