Traeger beats Q3 expectations, raises FY2024 guidance on grill revenue surge

Traeger, Inc.

2024-Q3 EPS reported -$0.21 revenue$435,435,000

Q3 revenue $122.1M (+3.7%), grill revenue $74.9M (+32.5% YoY) driven by volume and promotional activity.
Gross margin 42.3% (up 440 bps); Adjusted EBITDA $12.3M, nearly triple prior year's $4.7M.
Net loss $19.8M ($0.15/share) vs $19.3M ($0.16/share) last year; adjusted net loss improved to $7.4M.
Raises low-end of FY2024 revenue guidance and increases gross margin and Adjusted EBITDA guidance.
Consumables fell 11.2% to $22.5M, accessories down 31.3% to $24.6M; Rest of World revenue dropped 40.1%.

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