NYSE$COOK
Traeger Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Traeger's financial performance was negatively impacted by macroeconomic conditions and changes in consumer spending behavior.
Traeger reported a decrease in total revenues by 6.0% to $200.3 million. The company experienced a net loss of $132.3 million, which included a non-cash impairment charge of $111.5 million. Adjusted EBITDA was $17.9 million.
- Total revenues decreased by 6.0% to $200.3 million.
- Gross profit margin decreased by 240 basis points to 36.7%.
- Net loss was $132.3 million, including a non-cash impairment charge of $111.5 million.
- Adjusted EBITDA was $17.9 million.
Headline financials
Revenue & EPS history
Traeger · Revenue · Quarterly
$200M
Revenue by segment
Traeger · $200M total across 3 segments · Q2 2022
- Grills$118M-24.6%58.8%
- Consumables$42.1M+2.2%21.0%
- Accessories$40.5M+158.0%20.2%
Forward guidance
The company is reducing its full year guidance due to lower than anticipated results in the second quarter, the impact of ongoing macroeconomic pressures on consumer sentiment, and an expected reduction in replenishment order activity as retailers seek to reduce channel inventories.
Tailwinds
- Cost optimization initiatives are expected to generate annualized cost savings of $20 million.
- The Company has adjusted production levels to better align finished goods manufacturing with the reduced demand outlook.
- The Company is working with its retail partners to reduce channel inventories.
- A Gross Margin Task Force has been formed to identify savings across the supply chain.
- The Company expects to begin to realize benefits from these initiatives beginning in 2023.
Headwinds
- Total revenue is expected to be between $640 million and $660 million.
- Adjusted EBITDA is expected to be between $35 million and $45 million.
- Lower than anticipated results in the second quarter.
- Ongoing macroeconomic pressures on consumer sentiment.
- Expected reduction in replenishment order activity as retailers seek to reduce channel inventories.
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 Q2 2022
-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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