Traeger Inc Down 13.56% To $2.04 After Earnings Miss

Traeger Inc (COOK) reported less than expected earnings this afternoon for Q4 2023.

Analyst expectations for Traeger Inc earnings per share (EPS) were at a loss of $0.05 per share, with the company missing those estimates with a reported EPS loss of $0.08 per share, leading to a negative surprise of $0.03 per share (-60%). Traeger Inc's earnings were down 14% year-over-year as the firm reported an EPS loss of $0.07 per share in its year-ago quarter. The negative annual growth shows the Consumer Cyclical company isn't performing well amid current economic conditions.

Revenues were upbeat at $163.5 million. That is an increase of 18.35% in revenues from the year-ago report and is 6.23% higher than consensus estimates set at $153.9 million.

The stock is down 13.56% to $2.04 after the report.

Traeger Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Traeger Inc a Bullish Sentiment Rank from InvestorsObserver.

Traeger Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 18, putting Traeger Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $2.01 on February 22, 2024 and set a 52-week high on August 3, 2023 at $6.7.

Traeger Inc designs, sources, sells, and supports wood pellet fueled barbeque grills sold to retailers, distributors, and direct to consumers. It produces and sells the pellets used to fire the grills and also sells Traeger-branded rubs, spices, and sauces, as well as grill accessories including covers, barbeque tools, trays, liners, and merchandise. The company's geographical segments include North America and the Rest of the world, of which majority of revenue is from North America.