Traeger, Inc. (NYSE:COOK) Q1 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Nick Bacchus - VP, IR Jeremy Andrus - CEO Dom Blosil - CFO Conference Call Participants Simeon Siegel - BMO Capital Markets Peter Benedict - Baird Joe Feldman - Telsey Advisory Group Madison Callinan - Canaccord Genuity Megan Alexander - Morgan Stanley Nick Bacchus Good afternoon, everyone. Thank you for joining Traeger's call to discuss its First Quarter 2024 Results, which were released this afternoon an ...

FIRST QUARTER 2024 Revenue GROWTH PILLARS: QUARTERLY HIGHLIGHTS TRAEGER GAALLER PARK RAPLE WARRANES PREMIUM MARDWOOD PELLETS Z · 1100 · ch ch RAEGE S IBO SAUDE G /T. 18 ar 1454 = ( + ) = CTRAEGER "In the first quarter, we executed on our plan and delivered revenue and adjusted EBITDA results at the high-end of our guidance range. As we anticipated, consumer demand for grills remained soft in the first quarter. Despite facing a challenging demand backdrop for our category, our first quarter results demonstra ...

Traeger (COOK) reported $144.91 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 5.4%. EPS of $0.04 for the same period compares to $0.04 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $143.41 million, representing a surprise of +1.05%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.04.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Traeger (COOK) came out with quarterly earnings of $0.04 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this barbecue grill maker would post a loss of $0.03 per share when it actually produced a loss of $0.08, delivering a surprise of -166.67%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Traeger, which belongs to th ...

26 101.INS Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document * * Filed herewith. ** Furnished herewith. ^ Certain portions of this exhibit have been redacted pursuant to Regulation S-K, Item 601(b)(10)(iv) Date: May 8, 2024 | --- | --- | |--------|------------------------------------------------------------------------------- ...

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 ...