YETI Announces a $100 Million Share Repurchase Program

YETI Holdings, Inc. (“YETI”) (NYSE: YETI) today announced that its Board of Directors has authorized the repurchase of up to $100 million (exclusive of fees and commissions) of YETI’s common stock. This share repurchase program is effective immediately and extends through February 27, 2023.

Matt Reintjes, President and Chief Executive Officer, commented, “We remain confident in driving near and long-term demand for the YETI brand while also focused on efforts to drive shareholder value. Given recent market dynamics, we believe our shares are undervalued and this share buyback provides the ability to take advantage of the current valuation. At the same time, we have the financial flexibility to pursue both organic and inorganic growth opportunities.”

Repurchases under this program may be made over the next year through various methods, including, but not limited to, open market, privately negotiated, or accelerated share repurchase transactions. The timing, manner, price, and actual amount of share repurchases will be determined, at management’s discretion, based on various factors, including, but not limited to, stock price, economic and market conditions, other capital management needs and opportunities, and corporate and regulatory considerations. YETI has no obligation to repurchase any amount of its common stock, and such repurchases, if any, may be suspended or discontinued at any time. Repurchases under this program will be funded from YETI’s existing cash position or future cash flows. As of January 1, 2022, YETI had $312.2 million in cash and 87,727,202 shares of common stock outstanding.

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