earnings
confidence high
sentiment neutral
materiality 0.70
Traeger Q4 revenue up 30.8% to $174.9M; full year revenue beats guidance; 2022 outlook cautious
Traeger, Inc.
- Q4 revenue $174.9M (+30.8% YoY); grill revenue $100.7M (+9.3%), accessories $48.1M (+424.5% from MEATER acquisition).
- Q4 net loss $33.7M (-$0.29/sh) vs $3.3M loss prior year; adjusted net income $3.6M ($0.03/sh, flat YoY).
- Full year revenue $785.5M, up 43.9%, exceeding guidance of $760-770M; adjusted EBITDA $109.0M beat $103-108M range.
- Gross margin down 80 bps to 37.4% on higher freight and warehousing costs, partly offset by price increases.
- CEO projects 'lower than typical growth' in 2022, citing near-term headwinds but new product innovation.