Yeti Recalls 250,000 Travel Mugs Over Faulty Lids

Yeti is recalling around 250,000 of its Rambler travel mugs over faulty lids, and it will refund customers.
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Yeti  (YETI) - Get Report said on Tuesday that it was recalling 250,000 travel mugs due to faulty lids that could cause injuries, the company and a media report say.

The Austin company urged its customers in a statement to “stop using the product immediately.”

The Rambler 20-ounce travel mug with the Stronghold Lid was recalled because the lid can eject and spill hot contents, causing burn hazards, the company said in its voluntary product recall on its website.

The producer of outdoor products, including coolers, drinkware, bags and more, is offering a full refund on the product once customers return just the lid.

In a filing from the U.S. Consumer Product Safety Commission last week, Yeti said it received two reports of the slider ejecting. 

No injuries were reported.

The travel mugs were available for purchase on Yeti's website from Oct. 1 through Oct. 9 with 15,000 mugs being ultimately sold, the company told CNN.

Last week, Yeti shares jumped as analysts lauded the third-quarter earnings report from the company.

The shares recently traded at $55.10, down 1%. They climbed 60% year to date through the close of Tuesday trading.

Profit registered $51.4 million, or 58 cents a share, more than double the $21.3 million, or 25 cents, of a year earlier. Adjusted earnings per share hit 61 cents, beating the FactSet analyst consensus of 37 cents.

The company’s revenue totaled $294.6 million in the third quarter, up 29% from $229.1 million in the year-earlier quarter. The latest figure beat the FactSet analyst consensus of $262 million.