regulatory
confidence high
sentiment negative
materiality 0.65
Traeger recalls 37,000 Flatrock griddles due to fire hazard; expects $3-4M impact
Traeger, Inc.
- About 37,000 units sold from Feb-Oct 2023; burner control knobs incorrectly labeled, posing fire hazard.
- 57 reports of mislabeling; no fires or injuries reported to date.
- Estimated $3M-$4M impact on operating results, including $2M-$3M revenue hit from returns.
- Full-year 2023 guidance reiterated as of Nov 8, 2023 despite the recall.
- Remedy: free repair kit; consumers instructed to contact Traeger for inspection.