Traeger, Inc. Provides Earnings Guidance for the First Quarter and Full Year Fiscal 2022
March 23, 2022 at 04:05 pm EDT
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Traeger, Inc. provided earnings guidance for the first quarter and full year fiscal 2022. First quarter guidance reflects a decline in year over year sales growth driven by comparing against accelerated retail activity in the first quarter of 2021 and the impact of inflationary pressures and geopolitical turmoil on consumer sentiment and discretionary spending, as well as gross margin pressures due to global supply chain challenges. Total revenue is expected to be between $208 million and $212 million.
Full year guidance reflects a moderation in year over year sales growth driven by comparing against two years of accelerated retail activity and the impact of inflationary pressures and geopolitical turmoil on consumer sentiment and discretionary spending, as well as gross margin pressures due to global supply chain challenges. Total revenue is expected to be between $800 million and $850 million.
Traeger, Inc. designs, sources, sells, and supports wood pellet fueled barbecue grills sold to retailers, distributors, and direct to consumers. The Company's integrated platform has six types of products: wood pellet grills, gas griddles, grilling accessories, digital content, the Traeger app and consumables. It produces and sells the pellets used to fire the grills and also sells Traeger-branded rubs, spices, and sauces, as well as grill accessories (including P.A.L. Pop-And-Lock accessory rails, grill covers, liners, tools, MEATER smart thermometers, apparel and other ancillary items). Its flagship wood pellet grills are Internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app. It offers live-streaming cooking classes to consumers through its Traeger Kitchen Live series. It offers Shop Class: Private Table, which is a series of shop classes. It produces a library of digital content, including instructional recipes and videos.
TRAEGER, INC. 
