Reports Q4 revenue $138.1M, consensus $118.4M. "We delivered fourth quarter results that were ahead of our expectations, allowing us to exceed our annual guidance for both sales and Adjusted EBITDA," said Jeremy Andrus, CEO of Traeger. "We were pleased to see the consumer respond favorably to our efforts to drive demand during the holiday period. Moreover, we made demonstrable progress on our key near-term priorities in the quarter, including driving a material improvement in channel inventories and realizing the benefits of our cost savings actions. Our outlook for 2023 balances our cautious view on the macroeconomic environment with our expectation for improved gross margins and continued cost discipline, which we expect will allow us to deliver Adjusted EBITDA growth for the year. We look forward to the second half of the year when we expect to return to topline growth, as channel inventories more fully normalize and we lap aggressive retailer destocking. Overall, despite a challenging year in 2022, we move into 2023 as a more efficient and agile business. As we navigate the near-term environment, we also remain focused on our long-term opportunity to grow the Traeger brand. I am confident that the strategies we have in place will position the Company to drive long-term shareholder value as we disrupt the outdoor cooking category."
Published first on TheFly
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