YETI reported earnings today and continues to grow revenue in the mid to high single digits through international expansion and continued DTC growth. Before they released earnings though, they announced a CFO transition.
Their current CFO, Mike McMullen, has been with YETI for ten years including three years at CFO. He’ll stay on in an advisory capacity through the end of May.
Mike McMullen will be replaced by Scott Bomar who comes to YETI from The Home Depot where he’s been for over 20 years. Most recently, he was the Senior Vice President of Finance where he led financial operations, including financial planning and analysis, business unit finance, treasury, and acquisition integration.
We are thrilled to welcome Scott Bomar as YETI’s next CFO. Scott brings to YETI more than 20 years of financial and operational leadership across global, consumer‑focused retail environments, as well as a blend of strategic insight, deep financial acumen and operational rigor, and experience scaling high‑growth businesses. Scott’s background aligns well with YETI’s focus on disciplined execution and profitable growth. Across his roles at Home Depot and previously as CFO of Deluxe, he has consistently driven cost management, operating efficiency and margin enhancement while supporting long-term strategic priorities.
Matt Reintjes, President and Chief Executive Officer of YETI
Throughout his career, Scott has led major financial transformations, strengthened international operations and partnered with leadership teams to drive long‑term strategy and value creation. With the momentum in the business and incredible opportunities in front of us, together we will look to capitalize on the meaningful growth ahead for YETI. This includes driving product innovation, expanding our global presence and further penetrating our total addressable market. I look forward to working closely with Scott as we execute on our growth initiatives and position YETI for continued success.
Growth
If there’s anyone that’s figured out their growth flywheel being driven by brand and innovaiton, it’s YETI. They countinue to leverage their brand to have successful product releases in existing and adjacent categories. They also are leveraging it to drive international growth. It’s a similar strategy to SharkNinja.
There are 3 themes I want to emphasize this morning. First, our strong finish to 2025 sets the stage for meaningful global growth and profitability in 2026 and beyond. Second, our product innovation engine is operating with more speed, breadth and global capability than ever. Third, our expanding global brand, combined with a broader, higher velocity product portfolio will be the driving force behind the next phase of YETI’s growth.
Matt Reintjes, President and Chief Executive Officer of YETI
Their historical foundation that they’ve built internationally is what has set them up to really start to expand. Below is a chart they had in their investor materials that illustrates this.
We’ve seen more brands move away from DTC in recent years, but it’s been a success story for YETI. They’re focused on meeting the consumer where they want to shop. The mix that they’ve achieved is a key to their success.
YETI was asked about expanding into new points of distribution with their expansion into adjacent categories. They gave a pretty general answer, but did specificially mention outdoor specialty stores.
And that’s really everything from as we’ve expanded more of our sport-oriented offering, as we expand our outdoor offering. There’s lots of outdoor specialty and sports specialty that I think are really interesting places for YETI to expand and grow. I also think that our existing accounts have opportunity to continue to sort and manage the portfolio we have.
Matt Reintjes, President and Chief Executive Officer of YETI
YETI expects revenue growth in 2026 of 6% to 8% with a path to high single-digit to low double-digit growth in the long-term. That long-term growth assumes continued capture of the larger international TAM.