Traeger Inc
NYSE:COOK
Traeger Inc
Traeger, Inc. designs, sells, and support wood pellet fueled barbeque grills. The company is headquartered in Salt Lake City, Utah and currently employs 850 full-time employees. The company went IPO on 2021-07-29. The firm is engaged in designing, sourcing, selling, and supporting wood pellet fueled barbeque grills sold to retailers, distributors, and direct to consumers. The company 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. Its system ignites hardwoods to grill, smoke, bake, roast, braise, and barbeque. Its Traeger grills allows cooks to create meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. Its community called the Traegerhood includes casual grillers, pitmasters and professional chefs. Its wood pellet grills are Internet of things (IoT) devices that allow owners to program, monitor, and control their grill through its Traeger application, which is used on mobile devices.
Traeger, Inc. designs, sells, and support wood pellet fueled barbeque grills. The company is headquartered in Salt Lake City, Utah and currently employs 850 full-time employees. The company went IPO on 2021-07-29. The firm is engaged in designing, sourcing, selling, and supporting wood pellet fueled barbeque grills sold to retailers, distributors, and direct to consumers. The company 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. Its system ignites hardwoods to grill, smoke, bake, roast, braise, and barbeque. Its Traeger grills allows cooks to create meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. Its community called the Traegerhood includes casual grillers, pitmasters and professional chefs. Its wood pellet grills are Internet of things (IoT) devices that allow owners to program, monitor, and control their grill through its Traeger application, which is used on mobile devices.
Cost Savings: Traeger announced an additional $20 million run rate cost savings target as part of Phase 2 of Project Gravity, raising the total savings target to $50 million by the end of 2026.
Channel Optimization: The company is exiting unprofitable channels, including the Costco roadshow and direct-to-consumer sales on its website, to focus on more efficient distribution.
Guidance Reaffirmed: Full-year 2025 guidance for revenue ($540–555 million, down 8–11%) and adjusted EBITDA ($66–73 million) was reiterated.
Q3 Performance: Third quarter revenue grew 3% to $125 million, driven by double-digit consumables growth; adjusted EBITDA increased to $14 million.
Gross Margin Pressure: Gross margin declined 360 basis points year-over-year to 38.7%, mainly due to tariffs and supply chain costs.
Grill Market Trends: The overall grill market remains slightly down, but Traeger's market share is holding steady.
Strategic Shifts: Management emphasized a transformation toward a leaner, more profitable business, even if it means lower near-term revenue.
