NYSE$COOK
Traeger Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Traeger's financial performance was announced for Q1 2023, with revenue declining but adjusted EBITDA exceeding expectations.
Traeger reported a decrease in total revenues by 31.5% to $153.2 million compared to the previous year. Net income was $8.0 million, or $0.07 per share, while adjusted EBITDA was $21.9 million, exceeding the high end of the guidance range. The company is reiterating its full year fiscal 2023 guidance.
- Total revenues decreased by 31.5% to $153.2 million.
- Gross profit margin decreased by 80 basis points to 36.2%.
- Net income was $8.0 million, or $0.07 per share.
- Adjusted EBITDA was $21.9 million, exceeding guidance.
Headline financials
Revenue & EPS history
Traeger · Revenue · Quarterly
$153M
Revenue by segment
Traeger · $153M total across 3 segments · Q1 2023
- Grills$89.7M-40.4%58.6%
- Accessories$33.4M-0.6%21.8%
- Consumables$30M-24.4%19.6%
Forward guidance
The Company is reiterating its prior guidance for Fiscal 2023. The Company's outlook reflects macroeconomic uncertainty and the expected negative impact of the continued normalization of grill channel inventory in the first half of 2023, as well as the benefit of expected growth in gross margin and ongoing expense control.
Tailwinds
- Total revenue is expected to be between $560 million and $590 million
- Gross margin is expected to be between 36% and 37%
- Adjusted EBITDA is expected to be between $45 million and $55 million
Headwinds
- Macroeconomic uncertainty
- Normalization of grill channel inventory in the first half of 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
-0.0%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-6.6%
Avg return
30 days after
42%
10 / 24 earnings
Positive
+32.6%
Q2 2024
Best reaction
-20.6%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -9.3% | -8.8% | +36.6% | |
| Q4 2025 | -20.3% | -20.8% | -20.3% | |
| Q3 2025 | -12.5% | -2.0% | -21.1% | |
| Q1 2025 | -2.7% | -10.1% | -6.8% | |
| Q4 2024 | +0.9% | -15.7% | -31.0% | |
| Q3 2024 | -0.6% | -5.5% | -4.3% | |
| Q2 2024 | +32.6% | +27.9% | +61.4% | |
| Q1 2024 | +4.3% | +0.0% | +8.7% | |
| Q4 2023 | -8.5% | -2.2% | +4.0% | |
| Q3 2023 | -20.6% | -25.0% | -24.0% | |
| Q2 2023 | +32.1% | +29.8% | -1.8% | |
| Q1 2023 | +28.8% | +20.3% | +46.3% | |
| Q4 2022 | +13.0% | +22.5% | +13.9% | |
| Q3 2022 | -17.0% | +2.9% | -22.9% | |
| Q2 2022 | +11.3% | +5.4% | -6.5% | |
| Q1 2021 | +30.2% | +35.4% | -1.6% | |
| Q1 2022 | +4.1% | +9.3% | -14.6% | |
| Q4 2019 | +4.4% | +1.4% | -12.6% | |
| Q4 2021 | -15.8% | -20.6% | -29.8% | |
| Q3 2020 | -16.0% | -25.9% | -34.9% | |
| Q3 2021 | -16.0% | -25.9% | -34.9% | |
| Q2 2020 | -9.7% | -10.9% | -21.7% | |
| Q4 2020 | -9.7% | -10.9% | -21.7% | |
| Q2 2021 | -4.0% | -11.6% | -20.0% | |
| Q1 2020 | — | — | — |
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