share of yeti holdings inc yeti gained 01 in premarket trading wednesday after the outdoor products company reported firstquarter profit and sales that beat expectations as strength in drinkware sales offset a miss in cooler and equipment sales net income fell to 257 million or 29 cents a share from 305 million or 35 cents a share in the yearago period excluding nonrecurring items adjusted earnings per share of 33 cents topped the factset consensus of 32 cents sales grew 186 to 2936 million above the factset consensus of 2905 million drinkware sales rose 236 to 1840 million above the factset consensus of 1758 million and cooler and equipment sales increased 102 to 1030 million but was below expectations of 1100 million meanwhile cost of sales jumped 356 to 1388 million as gross margin contracted to 527 from 586  we are very encouraged with this performance when measured against the backdrop of ongoing and emerging challenges that continue to pressure consumer spending and sentiment said chief executive matt reintjes for 2022 the company raised its adjusted eps guidance range to 286 to 291 from 282 to 286 and expects sales to be up 18 to 20 while the factset consensus of 168 billion implies 193 growth the stock has plunged 469 year to date through tuesday while the sp 500 spx has dropped 161