In the recent earnings conference call, Traeger, the renowned grill manufacturer, shared its third quarter results for 2024 and provided insights into its future financial expectations. The call was hosted by Nick Bacchus, the Vice President of Investor Relations at Traeger, alongside CEO Jeremy Andrus and CFO Dom Blosil. Traeger's results and additional information have been made available on their investor relations website. Management's discussion included forward-looking statements about the company's revenue outlook, particularly for consumables and accessories in the fourth quarter of 2024 and the full fiscal year.
Key Takeaways
- Traeger released its Q3 2024 results and discussed them in a conference call hosted by VP of Investor Relations Nick Bacchus.
- CEO Jeremy Andrus and CFO Dom Blosil were present to provide insights into the company's performance and future expectations.
- The company provided forward-looking statements regarding its revenue outlook for Q4 2024 and the full fiscal year.
- Risks and uncertainties that could affect future results were acknowledged, and stakeholders were directed to review annual and quarterly reports for more detailed information.
Company Outlook
- Traeger anticipates growth in revenue results for consumables and accessories categories in Q4 2024.
- The company also shared its anticipated results for the full fiscal year 2024.
Bearish Highlights
- Management acknowledged risks and uncertainties that could cause actual results to differ from current expectations.
Bullish Highlights
- The company's outlook suggests confidence in revenue growth for the upcoming quarter and the end of the fiscal year.
Misses
- No specific misses were discussed during the call.
Q&A Highlights
- The Q&A session details were not provided in the summary.
Traeger, listed under the ticker symbol of its respective market, has shared a cautiously optimistic outlook for the coming quarter and the conclusion of the fiscal year, emphasizing potential growth in key product categories. The management's forward-looking statements, while positive, come with a reminder of the inherent risks and uncertainties in the market, which could impact actual financial results. Investors are encouraged to review the company's formal reports for a comprehensive understanding of its performance and risk factors. As the company looks ahead, stakeholders will be watching closely to see if Traeger's projections hold true in the dynamic global market.
InvestingPro Insights
Traeger's recent earnings call and forward-looking statements can be further contextualized with real-time data from InvestingPro. The company, trading under the ticker COOK, has shown some positive signs despite facing challenges.
According to InvestingPro data, Traeger's revenue for the last twelve months as of Q3 2024 stood at $598.91 million, with a modest growth of 3.17%. This aligns with the company's cautiously optimistic outlook for revenue growth in consumables and accessories for Q4 2024 and the full fiscal year.
An InvestingPro Tip highlights that 7 analysts have revised their earnings upwards for the upcoming period, suggesting growing confidence in Traeger's financial performance. This positive sentiment is reflected in the stock's performance, with InvestingPro data showing a significant 37.83% price total return over the past six months.
However, it's important to note that Traeger is currently not profitable over the last twelve months, with a negative operating income margin of -2.98%. Despite this, another InvestingPro Tip indicates that analysts predict the company will be profitable this year, which could be a turning point for Traeger's financial health.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 5 more InvestingPro Tips available for Traeger, providing a deeper understanding of the company's financial position and market performance.
Full transcript - Tgpx Holdings I LLC (COOK) Q3 2024:
Operator: Hello and welcome to the Traeger Third Quarter 2024 Earnings Conference Call. My name is Alex, and I’ll be coordinating the call today. [Operator Instructions] I’ll now hand it over to your host, Nick Bacchus, Vice President of Investor Relations. Please go ahead.
Nick Bacchus: Good afternoon, everyone. Thank you for joining Traeger’s call to discuss its third quarter 2024 results, which were released this afternoon and can be found on our website at investors.traeger.com. I’m Nick Bacchus, Vice President of Investor Relations at Traeger. With me on the call today are Jeremy Andrus, our Chief Executive Officer; and Dom Blosil, our Chief Financial Officer. Before we get started, I want to remind everyone that management’s remarks on this call may contain forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and views future events, including, but not limited to, outlook as to revenue results for consumables and accessories categories for the fourth quarter of 2024 and our anticipated full year fiscal 2024 results. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein. I encourage you to review our annual report on Form 10-K for the year ended December 31, 2023, our quarterly report
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