Filing Flows › Yeti Holdings (YETI) › Q1 2026
Yeti Holdings (YETI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Yeti Holdings (YETI) reported revenue of $380M for the first quarter 2026 (Q1 2026), +8% from a year earlier and -35% from the quarter before. Operating margin was 3.3%, net earnings $9.9M (2.6% of revenue).
Yeti Holdings, Q1 2026: revenue $380M (+8% year over year), operating margin 3.3%, net earnings $9.9M, operating cash flow −$32.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $380M | -35% | +8% |
| Gross profit | $210M | -38% | +4% |
| Operating profit | $12.4M | -84% | -43% |
| Net earnings | $9.9M | -83% | -41% |
| Operating cash flow | −$32.6M | -119% | — |
What changed
Revenue was $380.4M in Q1 2026, up 8% year over year and down 35% from the previous quarter. Drinkware was the largest line at 57% of revenue. Coolers & Equipment added $15.9M year over year (up 11%), 54% of the total change.
Gross margin was 55.3%, down 2.2 points from Q1 2025. Operating profit was $12.4M, a 3.3% margin (down 2.9 points year over year). Operating profit fell $9.2M even though revenue rose $29.3M versus Q1 2025, so costs grew faster than sales. Operating expenses grew 10% against revenue growth of 8%. Net earnings were $9.9M, down 41% year over year. The effective tax rate was 19.9%.
Operating cash flow was −$32.6M. Non-cash charges added back $14.0M of depreciation and amortization and $9.4M of share-based compensation. Working capital and other items used $65.9M. Capital expenditures of $11.1M exceeded it, leaving free cash flow of −$43.8M.
Questions
What was Yeti Holdings' revenue in the first quarter 2026?
Yeti Holdings (YETI) reported revenue of $380M for the first quarter 2026 (Q1 2026), +8% from a year earlier and -35% from the quarter before.
Was Yeti Holdings profitable in the first quarter 2026?
Operating profit was $12.4M (3.3% of revenue) and net earnings $9.9M.
Source: Yeti Holdings 10-Q on SEC EDGAR.