Welcome to our dedicated page for Traeger news (Ticker: COOK), a resource for investors and traders seeking the latest updates and insights on Traeger stock.
Traeger, Inc. (symbol: COOK) is a leading company in the outdoor cooking industry, renowned for its innovative wood pellet grills. Established in Oregon in the 1990s, Traeger has grown from a niche product to a household name, beloved by food enthusiasts for its ability to deliver unique, rich flavors through natural wood pellets.
The company designs, sources, sells, and supports wood pellet-fueled barbeque grills, catering to retailers, distributors, and direct consumers. Traeger also produces and sells the pellets required for their grills, ensuring quality and consistency. Alongside grills and pellets, Traeger offers a range of branded rubs, spices, sauces, and grilling accessories such as covers, barbeque tools, trays, liners, and merchandise.
Core strengths of Traeger include:
- Quality and Ease-of-Use: Traeger grills are known for their superior workmanship and user-friendly design.
- Natural Wood Pellets: Traeger’s natural, safe wood pellets infuse food with amazing, rich flavors.
- Versatility: Traeger grills offer six different cooking methods—grilling, baking, smoking, slow cooking, braising, and barbecuing—making them an essential tool for any kitchen.
- Exceptional Value: Customers recognize Traeger for delivering great taste, consistently, across a wide range of foods.
The company's operations span multiple geographical segments, with the majority of revenue generated from North America. Traeger's commitment to quality and innovation has led to numerous partnerships and projects aimed at enhancing the outdoor cooking experience.
Recent developments at Traeger include advances in grill technology and expanding their product lineup to meet growing customer demand globally. With a strong financial foundation and a clear focus on customer satisfaction, Traeger continues to be a leader in the outdoor cooking industry, bringing exceptional taste and quality to backyards around the world.
Latest News:Source: Traeger, Inc.
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Traeger, Inc. (NYSE: COOK) is set to announce its first quarter fiscal 2023 financial results on May 10, 2023, after the market closes. A conference call with management will follow at 4:30 p.m. Eastern Time to discuss the results. Interested participants can join by dialing (833) 470-1428 or +44 (208) 068-2558 for international callers. For those unable to attend, a replay will be available shortly after the call and remain accessible until May 24, 2023. Traeger, based in Salt Lake City, is the leading innovator of wood pellet grills and has recently expanded into the griddle category, reinforcing its presence in the outdoor cooking market.
Traeger, Inc. (NYSE: COOK) reported its Q4 and full-year 2022 financial results, highlighting a 21% drop in Q4 revenues to $138.1 million and a 16.5% decrease in full-year revenues to $655.9 million. The company faced a net loss of $382.1 million for the year, primarily due to a $222.3 million goodwill impairment charge. Adjusted EBITDA for the year was $41.5 million. Despite challenges in 2022, the CEO expressed optimism for 2023, forecasting revenues of $560-$590 million and improved gross margins of 36%-37%. Cost controls and product mix adjustments are expected to drive growth. Traeger aims for better channel inventory normalization in the second half of 2023.
Traeger, Inc. (NYSE: COOK) will release its fourth quarter and full year 2022 financial results on March 16, 2023, after market close. A conference call is scheduled for 4:30 p.m. Eastern Time the same day to discuss the results. Interested participants can join the call by dialing (844) 200-6205 or +1 (929) 526-1599 for international calls, using conference ID 873475. A replay will be accessible until March 30, 2023. Traeger, known for its wood pellet grills, has expanded into the griddle category in 2023, enhancing its position in the outdoor cooking market.
Traeger, the leader in wood-pellet grills, announced the launch of the Flatrock Grill on February 22, 2023. This innovative product aims to redefine the griddle category with a focus on premium design and functionality. Priced at $899, it features advanced technologies like TruZone™ temperature control and FlameLock™ construction for efficient cooking. The grill offers versatile cooking options and aims to elevate the outdoor cooking experience. Traeger plans to enhance customer engagement by filling a market gap for premium flat-top grills, emphasizing a commitment to innovation and quality.
Traeger, Inc. (NYSE: COOK) has launched the all-new Ironwood and Ironwood XL grills, redefining outdoor cooking with advanced features aimed at enhancing user experience. This upgraded series introduces innovations such as Smart Combustion technology and a touchscreen interface for precision cooking. The grills, priced at $1,799 and $1,999, promise superior wood-fired flavor and customizable cooking options. CEO Jeremy Andrus emphasizes that innovation remains central to Traeger's mission. The Ironwood series is available on Traeger's website and select retailers across the U.S. and Canada.
Traeger, Inc. (NYSE: COOK) reported a significant 42.1% decline in Q3 revenues to $93.8 million, primarily due to reduced consumer demand and inventory adjustments by retailers. The company's net loss skyrocketed to $210.4 million or $1.75 per share, impacted by a $109.8 million impairment charge. Gross profit margin fell to 27.7% compared to 33.5% year-over-year. Despite challenges, Traeger is focusing on strategic cost reductions and expects full-year revenues to be at the low-end of previous guidance, between $635 million and $640 million.
Traeger, Inc. (NYSE: COOK) will release its third quarter fiscal 2022 financial results on November 9, 2022, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss these results. Participants can join by dialing (844) 200-6205 or +1 (929) 526-1599 for international callers, using conference ID 153347. The call will also be available via webcast. Replay options will be accessible until November 16, 2022.
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