Trager reports Q2 adjusted EPS 4c, consensus (2c)

Reports Q2 revenue $171.5M, consensus $154.89M. “In the second quarter, we delivered results that were ahead of our expectations and grew adjusted EBITDA, even as our sales were pressured by retailer destocking and lower consumer demand,” said Jeremy Andrus, CEO of Traeger. “I am pleased with the significant progress we have made in improving our financial positioning over the last several quarters. Specifically, our efforts to rightsize both balance sheet and channel inventories have allowed us to enter the second half of the year in a substantially more balanced position. Given our better than anticipated results for the first half of the year, today we are increasing our revenue and Adjusted EBITDA guidance for Fiscal 2023.”