Traeger reports Q2 EPS (6c), consensus 6c

Reports Q2 revenue $145.48M, consensus $166.5M. Jeremy Andrus, CEO, commented, “Our second quarter results reflect tariff related dynamics which impacted both sales and adjusted EBITDA performance in the quarter. During the quarter, our team worked diligently to implement measures to mitigate our exposure to tariffs. These actions are expected to drive improvement to second half 2025 adjusted EBITDA performance as compared to what we experienced in the second quarter. Given the uncertain macroeconomic backdrop, our focus this year is to protect profitability and cash flow. Our outlook for the fiscal year demonstrates our efforts in these areas, as we are expecting to offset approximately 80% of our $60M of unmitigated tariff exposure. Today, we are sharing details on our multi-step streamlining effort, Project Gravity, which I believe will unlock significant efficiencies and value at Traeger (COOK) over time. The first phase of Project Gravity is expected to drive $30M of annualized cost savings once fully implemented, with additional savings anticipated as we continue to develop and execute Phase 2 of the plan. I look forward to providing more details on Project Gravity in future updates.”