WEBR - Outdoor griddle maker Blackstone reports 1Q revenue reiterates 2022 outlook

Outdoor griddle maker Blackstone Products, which is going public through SPAC Ackrell Partners I Co (NASDAQ:ACKIU), reported Q1 revenue and reiterated its outlook for the year. Blackstone reported Q1 revenue rose 28% to about $128 million, while adjusted EBITDA increased 37% to approximately $19 million, according to a statement. The company also reaffirmed its outlook for 2022 of $608 million and adjusted EBITDA OF $81 million. Blackstone Products announced a deal to go public through SPAC Ackrell Products in December a transaction expected to give the combined company an enterprise value of $900M.The public listing for the maker of the outdoor flattop griddle, follows public debuts for more traditional grill makers Weber Inc. (WEBR) and Traeger Inc. (COOK) last summer. "Blackstone is really disruptive because we cook breakfast, lunch and dinner, we cook all three meals,"  CEO Roger Dahle told Seeking Alpha in an interview. "We are right on the tipping

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Outdoor griddle maker Blackstone reports 1Q revenue, reiterates 2022 outlook