Yeti Holdings, Inc. announced that its Board of Directors had 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 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.
