Yeti stock surges on hiked outlook
Yeti Holdings Inc. shares surged in the extended session Friday after the outdoor and recreation products maker hiked its outlook for the year. Yeti shares rallied 7.7% after hours, following a 2.3% gain to close the regular session at $16.72. The company said it expects sales of $241.2 million for the fourth quarter. For the year, Yeti forecast adjusted earnings of 88 cents to 90 cents a share, up from a previous forecast of of 79 cents to 82 cents a share on sales of $778.8 million for the year. Analysts surveyed by FactSet had forecast sales of $227.3 million for the fourth quarter, and earnings of 81 cents a share on revenue of $764.8 million for the year. Yeti released its first earnings report as a public company back in late November.
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