Traeger Q1 2022 Earnings Report
Key Takeaways
Traeger reported a decrease in total revenues and gross profit margin for Q1 2022. The company experienced a net loss, but adjusted net income and adjusted EBITDA were better than expected. Despite headwinds, Traeger reiterated its full-year 2022 outlook.
Total revenues decreased by 5.0% to $223.7 million.
Gross profit margin decreased to 37.4%, down 530 basis points compared to the prior year.
Net loss was $8.4 million, or $0.07 per share.
Adjusted EBITDA was $30.9 million.
Traeger
Traeger
Traeger Revenue by Segment
Forward Guidance
Full year guidance reflects a moderation in year over year sales growth driven by comparing against two years of accelerated retail activity and the impact of inflationary pressures and geopolitical turmoil on consumer sentiment and discretionary spending, as well as gross margin pressures due to global supply chain challenges.
Positive Outlook
- Total revenue is expected to be between $800 million and $850 million
- Adjusted EBITDA is expected to be between $70 million and $80 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income