Traeger Q2 revenue misses estimates; cuts FY26 sales outlook
Traeger Q2 revenue misses estimates; cuts FY26 sales outlook
Overview
U.S. wood pellet grill maker's Q2 revenue fell 17%, missing analyst expectations
Q2 adjusted net income and adjusted EBITDA both beat analyst expectations
Company announced new Lowe's partnership and lowered FY26 revenue guidance, kept adjusted EBITDA outlook
Outlook
Traeger lowers FY26 revenue outlook to $435 mln-$465 mln from $465 mln-$485 mln
Company maintains FY26 adjusted EBITDA guidance at $57 mln-$67 mln
Traeger raises FY26 gross margin outlook to 40.0%-41.0% from 39.5%-40.5%
Result Drivers
GRILL SALES MIX - Lower grill revenue driven by shift to lower-priced models and pricing/channel actions under Project Gravity, partially offset by higher unit volumes from new product launches
MEATER SOFTNESS - Accessories revenue fell due to lower MEATER smart thermometer sales; company also cited greater softness in the MEATER business
CHANNEL STRATEGY IMPACTS - Near-term channel impacts from distribution strategy contributed to revenue decline, per CEO
Company press release: ID:nBw6qRT6za
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $120.16 mln | $133.20 mln (7 Analysts) |
Q2 Loss Per Share |
| $3.12 |
|
Q2 Adjusted Net Income | Beat | $1.45 mln | -$4.21 mln (7 Analysts) |
Q2 Net Loss |
| $8.56 mln |
|
Q2 Adjusted EBITDA | Beat | $17.30 mln | $12.28 mln (6 Analysts) |
Q2 Gross Margin |
| 39.50% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the appliances, tools & housewares peer group is "hold"
Wall Street's median 12-month price target for Traeger, Inc. is $40.00, about 41.8% below its August 4 closing price of $68.77
Reuters Recommended Reads
Aug 5 - Holley Performance Brands slightly misses Q2 sales estimates, reiterates 2026 guidance
Aug 5 - SharkNinja Q2 sales beat; raises FY26 net sales growth outlook
Aug 4 - Cricut Q2 revenue misses estimates as products sales fall
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)