Net loss was $4.7 million in the first quarter, or $0.04 per diluted share, as compared to net loss of $10.9 million in the first quarter of last year, or $0.09 per diluted share. 1 2 Adjusted EBITDA was $24.4 million in the first quarter as compared to $21.9 million in the same period last year. There were no dilutive securities outstanding as of March 31, 2024 and 2023. Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures included in this press ...

Financial Data and Key Metrics Changes - In Q4 2023, revenue increased by 18% year-over-year to $163 million, with adjusted EBITDA growing by 47% compared to 2022 [7][39][110] - Adjusted net loss for the quarter was $9 million, or $0.08 per diluted share, an improvement from a loss of $13 million, or $0.11 per diluted share, in the same period last year [39][42] - Gross profit for Q4 increased to $60 million from $48 million last year, with a gross profit margin of 36.8%, up from 34.5% in the prior year [41][110] Business Line Data and Key Metrics Changes - Grill revenue increased by 24% to $60 million in Q4, benefiting from higher unit volumes despite lower average selling prices [130] - Accessories revenue rose by 21% to $79 million, driven by strong growth in the MEATER product line [40][93] - Consumables revenues were $25 million, up 1% year-over-year, showing improvement compared to the first half of the year [111] Market Data and Key Metrics Changes - North American revenues increased by 13%, while international revenues grew by 59%, primarily due to MEATER's strong wholesale growth [38] - The U.S. grill industry was reported to be down in the high single-digit range for 2023, reflecting a shift in consumer spending [25][64] - The company ended 2023 with an estimated U.S. household penetration of 3.5%, indicating significant growth potential [104] Company Strategy and Development Direction - The company aims to increase household penetration and drive product innovation while navigating a challenging consumer environment [6][33] - Strategic priorities include reducing costs, right-sizing inventories, and improving gross margins [8][24] - The company plans to enhance retail execution and customer experience, particularly as it enters the peak grilling season [101][125] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term potential of the brand despite near-term challenges in the grill industry [31][126] - The outlook for 2024 includes revenue guidance of $580 million to $605 million, reflecting a potential decline of 4% to flat growth compared to 2023 [10][45] - Management anticipates continued pressure on big-ticket items and expects the grill industry to remain negative in growth [64][97] Other Important Information - The company ended 2023 with total liquidity of $157 million, significantly up from $95 million at the end of the previous year [44] - The company has been recognized as a Great Place to Work for the third consecutive year, highlighting its strong company culture [29] - The MEATER 2 Plus product launch was successful, contributing to strong holiday sales [102][105] Q&A Session Summary Question: What is the outlook for grill demand and sell-through trends? - Management indicated that sell-through generally met expectations, stabilizing despite tracking in line with the prior year [51] Question: How is the company managing pricing strategy amid market pressures? - The company has adjusted prices across its grill portfolio back to pre-pandemic levels, impacting dollar volumes but improving unit performance [52] Question: What are the expectations for the grill market in 2024? - Management expects a high single to low double-digit decline in grill revenue for 2024, influenced by ongoing consumer shifts away from big-ticket items [65] Question: How is the company planning to approach marketing and reinvestment? - The company plans to cautiously invest in marketing as industry conditions improve, with a focus on brand awareness and product innovation [54][88] Question: What is the status of inventory management and product lifecycle? - Management noted that channel inventories are healthy, and they are strategically phasing out older SKUs ahead of new product launches [63][139]

For the quarter ended December 2023, Traeger (COOK) reported revenue of $163.48 million, up 18.4% over the same period last year. EPS came in at -$0.08, compared to -$0.07 in the year-ago quarter.The reported revenue represents a surprise of +6.78% over the Zacks Consensus Estimate of $153.1 million. With the consensus EPS estimate being -$0.03, the EPS surprise was -166.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Traeger (COOK) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -166.67%. A quarter ago, it was expected that this barbecue grill maker would post a loss of $0.11 per share when it actually produced a loss of $0.12, delivering a surprise of -9.09%.Over the last four quarters, the company has s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40694 Traeger, Inc. (State or other jurisdiction of incorporation or organization) 533 South 400 West Salt Lake City, Utah 84101 (Add ...

PROVIDES GUIDANCE FOR 2024 • Total revenues increased 18.3% to $163.5 million • Gross margin of 36.8%, up 230 basis points compared to prior year • Net loss of $24.0 million; net loss of $0.19 per share • Adjusted net loss of $9.5 million; adjusted net loss of $0.08 per share • Adjusted EBITDA of $13.0 million, up 82% compared to the prior year TRAEGER ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS SALT LAKE CITY, Ut., March 7, 2024 (BUSINESS WIRE) -- Traeger, Inc. ("Traeger" or the "Company") (NYSE: C ...

In its upcoming report, Traeger (COOK) is predicted by Wall Street analysts to post quarterly loss of $0.03 per share, reflecting an increase of 57.1% compared to the same period last year. Revenues are forecasted to be $153.1 million, representing a year-over-year increase of 10.8%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this ...

SALT LAKE CITY--(BUSINESS WIRE)--Traeger, Inc. (“Traeger”) (NYSE: COOK), creator and category leader of the wood pellet grill, today announced that it will release its fourth quarter and full year 2023 financial results after market close on Thursday, March 7, 2024. Management will host a conference call that afternoon at 4:30 p.m. Eastern Time to discuss its financial results. Those who wish to participate in the call may do so by dialing (833) 470-1428 or +1 (929) 526-1599 for international callers, conf ...

Traeger, Inc. (NYSE:COOK) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET Company Participants Nick Bacchus - Vice President, Investor Relations Jeremy Andrus - Chief Executive Officer Dom Blosil - Chief Financial Officer Conference Call Participants Peter Benedict - Baird Simeon Siegel - BMO Capital Markets Peter Keith - Piper Sandler Joe Feldman - Telsey Advisory Group Brian McNamara - Cannacord Genuity Operator Hello, everyone, and thank you for joining us today. Welcome to the Traeger Third ...

7 BALANCE SHEET FLEXIBILITY AND LIQUIDITY Lowered Exposure to Rising Rates A/R Facility $6 · Entered into floating-to-fixed interest rate swap agreement on First Lien Term Loan in February 2022 $95 • Agreement provides for a notional amount of $379.2MM, hedging nearly A/R Facility $3 · Fixed base rate at 2.08% Revolving Credit Facility $125 Facility Inventory and Cost Actions Driving Enhanced Liquidity $53 · Liquidity availability has increased by roughly $50MM since 4Q 2022 (4) Total Cash & Equivalents $39 ...