Traeger reports Q4 EPS 5c, consensus 0c

Reports Q4 revenue $168.6M, consensus $164.8M. “I am pleased with our solid finish to Fiscal 2024,” said Jeremy Andrus, CEO of Traeger (COOK). “In the fourth quarter, our grill revenues were better than expected, driven by healthy consumer demand at retail as well as load in of our new Woodridge series of wood pellet grills. We again saw significant gross margin expansion, which allowed us to exceed our Fiscal Year 2024 Adjusted EBITDA guidance. Overall, we made a lot of progress on our key strategic initiatives in 2024. This includes increasing brand awareness and market share, investing into our product development engine, and driving supply chain efficiencies which allowed for substantial margin improvement. As we look ahead to 2025, we will continue to execute on our long-term growth strategies, including driving innovation to the outdoor cooking market and building brand awareness. While we recognize the uncertainty of the current macroeconomic backdrop, we remain confident in our brand and our team’s ability to execute in any environment. We will manage the business with a prudent and flexible approach, while also building towards long-term, sustainable growth.”