shares of Yeti Holdings Inc. YETI are down today after a worse than expected earnings report.

Yeti released its second quarter results this morning. The company fell short of analyst consensus estimates for both revenue and earnings per share.

Revenue was estimated at $422.90 million but was reported at $420.04 million.

Earnings per share were estimated at $0.68 but reported as $0.63.

President and CEO Matt Reintjes shared the following sentiment to justify the quarter’s revenue decline: “Nevertheless, revenue was slightly below our expectations, mainly due to lower digital traffic and new subscriber acquisition trends after several years of strong growth.”

Price promotion: Shares are down 16.5% as the price oscillates at $45.39 on the last check Thursday.

Photo: Courtesy of Colton Strickland on Unsplash