10-K · March 6, 2026
Traeger positions itself as the creator and category leader of the wood pellet grill with an integrated, IoT-enabled platform (Traeger app, consumables and accessories) and a community-driven go-to-market. Management…
Earnings analysis · 10-Q
COOK earnings analysis
Filed May 11, 2026 · Our reading of the company's report
The latest report
Traeger, Inc. reported Q1 2026 results showing significant revenue decline but notable profitability gains. Revenue fell 34.3% year-over-year to $94.1 million, while net income increased to $2.9 million, up from a net…
Read full summary
Traeger, Inc. reported Q1 2026 results showing significant revenue decline but notable profitability gains. Revenue fell 34.3% year-over-year to $94.1 million, while net income increased to $2.9 million, up from a net loss of $0.8 million a year prior. The company continues implementing its Project Gravity initiative aimed at cost savings, which is expected to yield substantial benefits in future periods.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.49
What stood out
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Strong EPS Performance
Traeger reported an EPS of $1.49, significantly outperforming the estimated EPS of -$3.44 by 142.7%.
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Gross Margin Improvement
Gross margin increased to 45.7% from 41.5% year-over-year despite revenue drop, aided by a $15.6 million tariff refund.
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Operating Cash Flow Positive
Net cash provided by operating activities was $17.9 million, a turnaround from cash used of $20.8 million in Q1 2025.
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Cost Reduction Achievements
Total operating expenses decreased to $44.0 million from $56.0 million, driven primarily by sales and marketing cuts.
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Substantial Other Income Increase
Total other income rose 163.5% to $3.675 million from a loss of $5.790 million in the prior year.
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Working Capital Stability
Cash and cash equivalents improved to $33.7 million from $19.6 million in Q1 2025.
What to watch
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Significant Revenue Decline
Q1 2026 revenue dropped 34.3% to $94.1 million from $143.3 million in Q1 2025, primarily affecting grill sales.
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Interest Rate Exposure
Floating rate on $403.3 million debt poses risks, with a potential $4 million increase in annual interest from a 100 basis point rise.
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Ongoing Tariff Uncertainties
The legal status of tariffs remains volatile, affecting product costs and supply chain dynamics, especially with 80% production in China.
Management's outlook
Reiterates full-year revenue guidance of $465-$485 million.
Earlier filings 4
10-Q · August 7, 2025
Traeger reported Q2 revenue of $145,483,000, down from $168,471,000 in Q2 2024, and GAAP net loss of $7,384,000 (EPS $(0.06)). Gross margin contracted to 39.2% and operating loss was $(6,095,000), driven by lower grill…
10-Q · May 2, 2025
Traeger reported Q1 revenue of $143.283M (down from $144.914M a year ago) and a narrowed GAAP net loss of $(0.01) per share versus $(0.04) a year ago. Operating income improved to $3.412M (vs. a $(73)K loss prior year)…
10-Q · August 7, 2024
Traeger reported quarterly revenue of $168.471M and improved profitability: gross profit rose to $72.328M and operating income turned positive to $4.795M for the three months ended June 30, 2024. Cash decreased and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.