COOK - Traeger beats Q1 top and bottom line estimates; reaffirms FY23 outlook

2023-05-10 17:09:29 ET

• Traeger press release ( NYSE: COOK ): Q1 Non-GAAP EPS of $0.04 beats by $0.02 .
• Revenue of $153.2M (-31.5% Y/Y) beats by $0.57M .
• Gross profit margin of 36.2% down 80 basis points compared to prior year.
• Adjusted EBITDA of $21.9 million, ahead of guidance of $16 million to $20 million.
• Adjusted EBITDA margin of 14.3%, up from 13.6% in the prior year.
• Reiterates Outlook for Full Year 2023 :  Total revenue is expected to be between $560 million and $590 million vs. consensus of $579.14M.
• Gross margin is expected to be between 36% and 37%.
• Adjusted EBITDA is expected to be between $45 million and $55 million.

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