Traeger Q2 revenue falls 14.4% to $171.5M; adjusted EBITDA up 26% to $21.5M; raises FY23 guidance

Traeger, Inc.

2023-Q2 EPS reported -$0.33 revenue$324,673,000

Net loss of $32.9M ($0.27 loss per share) vs $133.1M loss ($1.13) a year ago; adjusted EPS $0.04.
Grills revenue down 20.9% to $93.1M; consumables down 17.1% to $34.9M; accessories up 7.4% to $43.5M.
Gross margin improved 25 bps to 36.9% on freight and FX favorability.
Raises FY 2023 revenue and Adjusted EBITDA guidance citing better-than-expected H1 results.
26% sequential reduction in balance sheet inventory from inventory management efforts.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Traeger, Inc. reported three months ended June 30, 2023 results: revenue $171.5 million, net income $32.9 million, EPS $0.27 per diluted share. Guidance raised.

Period: three months ended June 30, 2023
Revenue: $171.5 million
Net income: $32.9 million
EPS: $0.27 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

leader of the wood pellet grill, today announced its financial results for the three months ended June 30, 2023. Second Quarter FY 23 Results • Total revenues decreased 14.4% to $171.5 million • Gross profit margin of 36.9%, up 25 basis points compared to prior year • Net loss of $32.9 million compared to a loss of $133.1 million in the prior year • Adjusted EBITDA of

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Source: SEC EDGAR

accession 0001857853-23-000071

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