Traeger reports Q3 EPS (15c), consensus (6c)

Reports Q3 revenue $122.1M, consensus $118.8M. “Traeger (COOK) delivered third quarter results which were ahead of our expectations and which demonstrate our team’s commitment to execution,” commented Jeremy Andrus, CEO of Traeger. “Strong sell-through of our grills drove upside in our replenishment sales in the quarter, resulting in a 32% increase in our grills revenues. Furthermore, we continue to see significant gross margin expansion, which drove meaningful growth in Adjusted EBITDA in the quarter. Our results are allowing us to increase our financial guidance for the year once again. We believe our progress on driving efficiencies in the business over the last two years positions us well to deliver growth and shareholder value, in particular as our innovation pipeline accelerates into next year and beyond.”