YETI (YETI) Q2 2026 earnings summary

Executive summary

• Q2 net sales increased 9% to $483.9M, with growth in Coolers & Equipment, Drinkware, wholesale, DTC and international markets.

• Adjusted gross margin rose 170 bps to 59.5%; adjusted operating income fell 7% to $68.2M and adjusted EPS increased 2% to $0.67.

• FY26 adjusted operating margin and EPS guidance increased; sales growth guidance remained 7%–8%.

• Repurchased 2.8M shares for $130M; Investor Day was scheduled for September 17, 2026.

Financial highlights

• Net sales were $483.9M, up 9%; adjusted gross profit rose 12% to $288.1M.

• GAAP gross profit increased 25% to $322.5M; GAAP operating income rose 51% to $93.5M.

• GAAP net income increased 39% to $71.3M; diluted EPS was $0.94, up 54%, versus adjusted EPS of $0.67, up 2%.

• Adjusted SG&A increased 19% to $219.9M, or 45.4% of sales; adjusted operating income declined 7% to $68.2M.

• Cash was $59.8M; inventory increased 5% to $359.1M.

Outlook and guidance

• FY26 sales growth guidance remained 7%–8%; adjusted operating margin rose to ~14.9% from 14.6%.

• Adjusted EPS guidance increased to $2.94–$3.00, up 19%–21% year over year.

• Capital expenditures remain guided at $60M–$70M and free cash flow at $200M–$225M.