NYSE$COOK
Traeger Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Traeger's Q4 2022 financial results were announced, revealing a decrease in total revenues but exceeding annual guidance for sales and Adjusted EBITDA.
Traeger reported a 21.0% decrease in total revenues for Q4 2022, amounting to $138.1 million. Despite the revenue decline, the company exceeded its annual guidance for both sales and Adjusted EBITDA. Gross margin was 34.5%, and the adjusted EBITDA was $7.1 million.
- Total revenues decreased by 21.0% to $138.1 million.
- Gross margin was 34.5%, or 34.9% excluding restructuring costs.
- Net loss was $28.9 million, with a net loss per share of $0.24.
- Adjusted EBITDA reached $7.1 million.
Headline financials
Revenue & EPS history
Traeger · Revenue · Quarterly
$138M
Revenue by segment
Traeger · $138M total across 3 segments · Q4 2022
- Accessories$65.4M+36.0%47.4%
- Grills$48.3M-52.0%35.0%
- Consumables$24.4M-6.5%17.7%
Forward guidance
Traeger anticipates total revenue between $560 million and $590 million, gross margin between 36% and 37%, and adjusted EBITDA between $45 million and $55 million for the full year fiscal 2023. For the first quarter of 2023, the company expects total revenue between $145 million and $155 million and adjusted EBITDA between $16 million and $20 million.
Tailwinds
- Improved gross margins are expected.
- Ongoing expense control is anticipated.
- The company expects to return to topline growth in the second half of the year.
- Channel inventories are expected to normalize more fully.
- Traeger moves into 2023 as a more efficient and agile business.
Headwinds
- Macroeconomic uncertainty persists.
- Continued normalization of grill channel inventory is expected to negatively impact the first half of 2023.
- Grills revenues decreased 52.0% to $48.3 million
- Consumables revenues decreased 6.5% to $24.4 million
- North America revenues decreased 21.9% compared to the prior year.
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 Q4 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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