The earnings call reflected a challenging quarter for Traeger with significant impacts from tariffs and macroeconomic pressures. However, the company demonstrated strong strategic initiatives through tariff mitigation, cost-saving projects, and brand partnerships, which are expected to yield long-term benefits. Despite the pressure on revenues and margins, there were positive signs in consumer sell-through growth and strategic planning.

Company Guidance -

Q3 2025

During the call, Traeger provided guidance for fiscal year 2025, projecting revenues between $540 million and $555 million, which represents a decrease of 8% to 11% compared to the previous year. The company expects an adjusted EBITDA range of $66 million to $73 million. The revenue outlook is primarily impacted by anticipated pressure on grill volumes due to price increases implemented to offset tariff costs, as well as continued softness in accessories revenue, especially from MEATER. On gross margin, Traeger forecasts a range of 40.5% to 41.5%, reflecting an 80 to 180 basis points decline largely due to tariffs and a shift from direct import to domestic fulfillment models. Additionally, the company expects to realize $13 million in savings from Phase 1 of Project Gravity during fiscal 2025, contributing to a total target of $30 million in run rate cost savings over time.

Tariff Mitigation Success

Traeger expects to offset approximately 80% of the $60 million impact from tariffs in fiscal 2025 through mitigation efforts, including supply chain efforts and strategic pricing.

Project Gravity Cost Savings

Project Gravity, Traeger's efficiency and margin improvement initiative, is expected to drive approximately $30 million in run rate cost savings with full implementation expected by the end of 2026.

Positive Sell-Through Growth

Despite grill revenues being down 22%, Traeger saw better-than-expected consumer demand of grills at retail with positive unit sell-through growth during the peak season.

Partnerships with Major Brands

Traeger launched partnerships with Bud Light, Budweiser, and Pepsi Frito-Lay to engage new consumers and broaden brand reach through content integration, retail displays, and cross-merchandising efforts.

Consumables Revenue Growth

Consumables revenues grew by 7% in the second quarter, driven by strong sell-through and increased distribution, particularly in wood pellets.

Traeger (COOK) Earnings, Revenues Date & History

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COOK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	-0.04 / -	-0.06	―	―	―
Aug 06, 2025	2025 (Q2)	0.05 / -0.01	0.06	-116.67% (-0.07)
May 01, 2025	2025 (Q1)	0.04 / 0.05	0.04	25.00% (+0.01)
Mar 06, 2025	2024 (Q4)	>-0.01 / 0.01	-0.08	112.50% (+0.09)
Nov 06, 2024	2024 (Q3)	-0.06 / -0.06	-0.12	50.00% (+0.06)
Aug 06, 2024	2024 (Q2)	0.04 / 0.06	0.04	50.00% (+0.02)
May 08, 2024	2024 (Q1)	0.03 / 0.04	0.04	0.00% (0.00)
Mar 07, 2024	2023 (Q4)	-0.04 / -0.08	-0.07	-14.29% (>-0.01)
Nov 08, 2023	2023 (Q3)	-0.12 / -0.12	-0.21	42.86% (+0.09)
Aug 02, 2023	2023 (Q2)	-0.02 / 0.04	0.04	0.00% (0.00)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

COOK Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$1.70	$1.40	-17.65%
May 01, 2025	$1.48	$1.46	-1.35%
Mar 06, 2025	$2.16	$2.18	+0.93%
Nov 06, 2024	$3.17	$3.27	+3.15%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.