Traeger Q1 revenue down 31.5% to $153.2M; Adj EBITDA $21.9M beats $16-20M guide

Traeger, Inc.

2023-Q1 EPS reported $0.07 revenue$153,161,000

Total revenues fell 31.5% YoY to $153.2M; grills revenue dropped 40.3% to $89.7M.
Net income of $8.0M ($0.07/dil share) vs net loss of $9.0M a year ago; adjusted net income $5.5M ($0.04/dil share).
Adjusted EBITDA of $21.9M exceeded guidance range of $16M-$20M; margin improved to 14.3% from 13.6%.
Balance sheet inventory reduced 14% sequentially; management reiterates full-year 2023 outlook.
Launched new Flatrock and Ironwood grills; cites retailer destocking and lower consumer demand as headwinds.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Traeger, Inc. reported the three months ended March 31, 2023 results: revenue $153.2 million, net income $8.0 million, EPS $0.07 per diluted share. Guidance reaffirmed.

Period: the three months ended March 31, 2023
Revenue: $153.2 million
Net income: $8.0 million
EPS: $0.07 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

of the wood pellet grill, today announced its financial results for the three months ended March 31, 2023. First Quarter FY 2 3 Results • Total revenues decreased 31.5% to $153.2 million • Gross profit margin of 36.2% down 80 basis points compared to prior year • Net income of $8.0 million; net income of $0.07 per share • Adjusted net income of $5.5 million;

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Source: SEC EDGAR

accession 0001857853-23-000045

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