What guidance did Traeger's management provide for the next earnings period?

What factors drove the changes in Traeger's revenue and profit?

What were the key takeaways from Traeger’s earnings call?

Did Traeger beat or miss consensus estimates last quarter?

What is Traeger's latest dividend and current dividend yield?

What is the market's earnings forecast for Traeger next quarter?

What is Traeger's gross profit margin?

What were the key takeaways from Traeger's earnings call?

- **Revenue Resilience**: Q3 revenue +3% to $125M, EBITDA +12% to $14M despite 8% FY25 revenue decline guidance.
- **$50M Cost Savings**: Project Gravity targets $50M run-rate savings (Phase 1: $30M, Phase 2: $20M), with $13M realized in FY25.
- **Tariff Mitigation Success**: 80% of $60M tariff impact offset via cost controls, production shifts, and price increases.
- **Strategic Shifts**: Exiting DTC ($60M revenue loss) and Costco roadshows to focus on higher-margin channels and $20M Phase 2 savings.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue increased 3% to $125 million, driven by 12% growth in consumables and 2% growth in grills. Adjusted EBITDA rose 12% to $14 million.
- **Project Gravity Progress**: Phase 1 cost savings of $30 million (fully implemented by 2026) and Phase 2 savings target of $20 million (total $50M run-rate). Initiatives include exiting DTC business, shifting production to Vietnam, and optimizing channels.
- **Tariff Mitigation**: 80% of $60M tariff exposure offset via supply chain savings, production diversification, and price increases. Elasticity response to price hikes was within expectations.
- **Strategic Shifts**: Sunsetting unprofitable SKUs, ending Costco roadshows, and redirecting traeger.com traffic to retail partners for higher margins.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q3 GAAP net loss of $90M ($0.67 per share) due to $75M goodwill impairment. Adjusted EBITDA up 17% to $14M. Full-year guidance reaffirmed: $540M-$555M revenue (-8% to -11%), $66M-$73M EBITDA.
- **Margin Dynamics**: Gross margin contracted 360bps to 38.7% due to tariffs, partially offset by pricing and supply chain efficiencies. SG&A expenses down 550bps as a percentage of sales.
- **Liquidity**: $167M cash on hand, no debt. Inventory up 7% YoY due to tariff-related costs.

**【Q&A Key Highlights】**
- **DTC Exit Impact**: $60M revenue loss expected, but recaptured through retail channels. Phase 2 savings of $20M to materialize in FY27.
- **Consumer Elasticity**: Unit volume decline from price hikes offset by higher ASPs. Promo activity will continue to manage inventory.
- **Market Trends**: Overall grill market slightly down, Traeger holding share despite macro challenges. Replacement cycle expected to emerge post-2025.
- **Investment Strategy**: Reallocating savings from Costco roadshows to scalable marketing. Brand awareness up 100bps despite reduced ad spend.

Traeger, Inc. (COOK) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

COOK

COOK fundamentals

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