YETI Holdings, Inc. (NYSE:YETI) Q2 2022 Earnings Conference Call August 4, 2022 8:00 AM ET

Company Participants

Thomas Shaw - VP, IR

Matthew Reintjes - President and CEO

Paul Carbone - SVP and CFO

Conference Call Participants

Sharon Zackfia - William Blair

Camilo Lyon - BTIG

Brooke Roach - Goldman Sachs

Brian Harbour - Morgan Stanley

Kaumil Gajrawala - Credit Suisse

Robby Ohmes - Bank of America

Xian Siew - Exane BNP Paribas

Matt Egger - Piper Sandler

Operator

Good morning and welcome to 2Q FY 2022 Earnings Conference Call of YETI Holdings. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn this conference over to Mr. Tom Shaw. Thank you and over to you sir

Thomas Shaw

Good morning, and thanks for joining us to discuss YETI Holdings' second quarter 2022 results. 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.

During our call today, we'll be discussing certain non-GAAP measures pertaining to completed fiscal periods. Reconciliations of these non-GAAP measures to their most directly comparable GAAP measures are included in this morning's press release as well as in the supplement reconciliation, both of which are available in the Investor Relations sections of our website at yeti.com.

We use non-GAAP measures as a lead in some of our financial discussions as we believe they more accurately represent the true operational performance and underlying results of our business.

Today's call will be led by Matt Reintjes, President and CEO, and Paul Carbone, CFO. Following our prepared remarks, we'll open the call for your questions.

And now, I'd like to turn the call over to Matt.

Matthew Reintjes

Thanks Tom and good morning. YETI posted a 17% sales increase for the period, strong growth and what continues to be a challenging and dynamic environment. While results fell slightly short of a high bar we continue to set, these results in a three-year compounded annual growth rate of 22% continue to show the durability of demand and the strength of the brand.