Traeger Q1 revenue $144.9M (-5.4% YoY); gross margin 43.2% (+700bps); reiterates FY guidance

Traeger, Inc.

2024-Q1 EPS reported -$0.04 revenue$144,914,000

Revenue of $144.9M at high-end of $140-145M guide; down 5.4% YoY due to softer grill demand.
Gross margin 43.2% vs 36.2% prior year, highest since going public, driven by freight and pellet mill optimization.
Net loss $4.7M ($0.04/shr) vs $10.9M loss ($0.09/shr) YoY; adjusted net income $4.7M ($0.04/shr).
Adjusted EBITDA $24.4M, up 11.2% YoY from $21.9M.
Grills revenue $76.8M (-14.4% YoY); consumables +7.4%, accessories +7.4% led by MEATER thermometers.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Traeger, Inc. reported three months ended March 31, 2024 results: revenue $144.9 million, net income net loss of $4.7 million; net loss of $0.04 per share, EPS $0.04 per diluted share. Guidance reaffirmed.

Period: three months ended March 31, 2024
Revenue: $144.9 million
Net income: net loss of $4.7 million; net loss of $0.04 per share
EPS: $0.04 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, 2024. First Quarter FY 24 Highlights • Total revenues decreased 5.4% to $144.9 million , at the higher-end of guidance of $140 million to $145 million • Gross margin of 43.2%, up 700 basis points compared to prior year • Net loss of $4.7 million; net loss of $0.04

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Source: SEC EDGAR

accession 0001857853-24-000046

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