Yeti Holdings, Inc. (NYSE:YETI) Q1 2023 Earnings Conference Call May 11, 2023 8:00 AM ET

Company Participants

Thomas Shaw - VP, IR

Matthew Reintjes - President, CEO & Director

Michael McMullen - SVP, Principal Accounting Officer, Treasurer & CFO

Conference Call Participants

Sharon Zackfia - William Blair & Company

Joseph Altobello - Raymond James & Associates

Peter Benedict - Robert W. Baird & Co.

Peter Grom - UBS

John Kernan - TD Cowen

Xian Siew Hew Sam - BNP Paribas Exane

Robert Ohmes - Bank of America Merrill Lynch

Peter Keith - Piper Sandler & Co.

Brian McNamara - Canaccord Genuity

James Duffy - Stifel, Nicolaus & Company

Operator

Good day, and welcome to the YETI Holdings Q1 2023 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Tom Shaw. Please go ahead, sir.

Thomas Shaw

Good morning, and thanks for joining us to discuss YETI Holdings' First Quarter 2023 results. Leading the call today will be Matt Reintjes, President and CEO; and Mike McMullen, CFO. Following our prepared remarks, we'll open the call for your questions. Before we begin, we'd like to remind you that some of the statements that we make today on this call may be considered forward-looking, and such forward-looking statements are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. For more information, please refer to the risk factors detailed in our most recently filed Form 10-Q and the Form 8-K filed with the SEC today.

We undertake no obligation to revise or update any forward-looking statements made today as a result of new information, future events or otherwise, except as required by law. Unless otherwise stated, our financial measures disclosed on this call will be on a non-GAAP basis. We use non-GAAP measures as we believe they more accurately represent the true operational performance and underlying results of our business. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in this morning's press release and can be found in the Investor Relations section of our website at YETI.com.

And now I would like to turn the call over to Matt.

Matthew Reintjes

Thanks, Tom, and good morning, everyone. YETI is off to a good start to 2023 as we continue to drive demand globally for our branded products. We delivered top and bottom-line results that put us on pace for our full year financial commitments. Our team did a tremendous job driving focus on our brand and innovation. In addition, we are pleased with the design improvements on the products impacted by our voluntary product recall solidifying our plans to return new and improved versions of these products to the market in Q4 of this year.