Yeti Holdings (YETI) - Get Report  , the maker of Rambler mugs and coolers, smashed expectations with its second-quarter earnings report and raised its profit outlook for the year.

The company earned 33 cents a share after adjustments, far better than the 30 cents that Wall Street expected.

Revenue rose 12% to $231.7 million in the three months through June, up from $206.3 million in the same period a year ago. That was significantly better than the $226.2 million revenue that analysts were expecting.

"We made meaningful progress across our growth strategies during the period including the integration of our e-commerce platforms, the opening of our second retail store in Charleston, and the successful launch of a new category with the LoadOut GoBox," said CEO Matt Reintjes.

Yeti increased its earnings outlook for the full year to between $1.07 and $1.09 a share, up from a previous range of $1.02 to $1.06. That puts the new outlook ahead of current analysts' expectations that call for full-year earnings of $1.05.

The stock was down 2.7% to $33.82 in trading Thursday.

Save 76% with our Summer Break Sale. Subscribe to our premium site Real Money and become a smarter investor! Click here today to sign up!

Constable owns none of the securities listed in this story.