Traeger Q3 2022 Earnings Report
Key Takeaways
Traeger reported a 42.1% decrease in total revenue to $93.8 million, impacted by macroeconomic headwinds and inventory reductions by retail partners. The company experienced a net loss of $210.4 million, including a non-cash impairment charge of $109.8 million, and an adjusted EBITDA loss of $12.5 million. Despite these challenges, Traeger made progress on strategic priorities, including cost savings from restructuring and sequential improvement of in-channel inventory levels.
Total revenues decreased 42.1% to $93.8 million.
Gross profit margin was 27.7%, or 29.4% excluding $1.6 million of one-time restructuring costs.
Net loss was $210.4 million, including a non-cash impairment charge of $109.8 million, or $1.75 per share.
Adjusted EBITDA loss was $12.5 million.
Traeger
Traeger
Traeger Revenue by Segment
Forward Guidance
The company is updating its full year guidance, reflecting continued pressure on replenishment order activity as retail partners reduce in-channel inventories.
Revenue & Expenses
Visualization of income flow from segment revenue to net income