Question · Q4 2025
Noah Zakin asked for a quantification of how much of the $0.35 tariff headwind (both last year and incremental this year) is specifically related to IEPA tariffs versus other tariffs. He also inquired about any observed changes in the competitive environment from 2025 to 2026, potential shelf space opportunities, and expectations for the promotional environment and industry inventory levels in 2026 compared to the previous year.
Answer
Matt Reintjes, President and CEO, confirmed that the vast majority of the tariff costs are related to the IEPA tariffs. He noted ongoing productive conversations with wholesale partners regarding shelf space expansion for new products and acknowledged a shift in the drinkware category's total space allocation. While it's early to call the promotional environment for 2026, he expects some 'tail' as wholesalers and brands continue to manage drinkware inventory, but YETI's broader portfolio continues to drive growth.
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