Traeger, Inc. ( (COOK) ) has released its Q4 earnings. Here is a breakdown of the information Traeger, Inc. presented to its investors.
Traeger, Inc., based in Salt Lake City, is a leading innovator in the outdoor cooking industry, known for its wood pellet grills that offer versatility and ease of use for grilling, smoking, baking, roasting, braising, and barbecuing.
Traeger, Inc. recently released its financial results for the fourth quarter and full year of 2024, highlighting a solid finish to the fiscal year with notable improvements in grill revenues and gross margins. Despite a slight decrease in total revenues for the year, the company demonstrated significant progress in strategic initiatives and financial performance metrics.
In the fourth quarter of 2024, Traeger reported a 3.2% increase in total revenues to $168.6 million, with grill revenues surging by 30.2% to $78.0 million. The company also achieved a gross margin of 40.9%, a notable increase from the previous year, and reduced its net loss to $7.0 million from $24.0 million. For the full year, total revenues slightly decreased by 0.3% to $604.1 million, while grill revenues grew by 8.5% to $324.7 million. The gross margin improved to 42.3%, and the net loss was significantly reduced to $34.0 million from $84.4 million in the prior year.
The company’s strategic focus on increasing brand awareness, product development, and supply chain efficiencies contributed to these positive results. Adjusted EBITDA for the year increased by 34.1% to $81.9 million, reflecting the company’s efforts to enhance operational efficiency and profitability.
Looking ahead to 2025, Traeger remains committed to executing its long-term growth strategies, including driving innovation in the outdoor cooking market and building brand awareness. Despite potential macroeconomic uncertainties, the company is confident in its ability to adapt and achieve sustainable growth.