WEBR - Weber sales plummet in Q4 as retail traffic slowed

Weber ( NYSE: WEBR ) reported sales fell off 42% in Q4 to $165M due chiefly to slower retail traffic, both in-store and online, higher customer inventory levels, and macroeconomic factors. Foreign exchange accounted for $8M of the sales drop.

Sales decreased 38% in the Americas region to $98M and were down 58% for the EMEA region to $27M. APAC region sales decreased 36% to $41M.

Gross profit decreased 44% to $36M, driven by lower volumes that were only partially offset by pricing actions.

An adjusted EBITDA loss of $30M was recorded.

CEO update: "We continue to navigate the macro environment with focus and agility while leaning into our operational expertise, deep product pipeline, and strong execution capabilities to bring our customers experiences that only Weber can create."

Weber ( WEBR ) is set to become a privately held company majority owned by BDT investment funds. The transaction is expected to close in the first half of 2023.

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