Traeger Q1 revenue $223.7M (-5% YoY), net loss $8.4M, reiterates FY outlook

Traeger, Inc.

2022-Q1 EPS reported -$0.07 revenue$223,710,000

Total revenue $223.7M, down 5% YoY; grill revenue fell 15.8% to $150.4M on lower unit volumes.
Gross margin 37.4% vs 42.7% last year, pressured by higher inbound freight costs.
Net loss $8.4M ($0.07 loss per share) vs net income $38.9M ($0.36) a year ago.
Adjusted net income $20.0M ($0.17/share); adjusted EBITDA $30.9M vs $64.1M last year.
Company reiterates full-year 2022 guidance despite Q1 results ahead of prior expectations.

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