COOK earnings analysis
What we found in COOK's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong EPS Performance
- Traeger reported an EPS of $1.49, significantly outperforming the estimated EPS of -$3.44 by 142.7%.
- 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.
- 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.
- Cost Reduction Achievements
- Total operating expenses decreased to $44.0 million from $56.0 million, driven primarily by sales and marketing cuts.
- 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.
- Working Capital Stability
- Cash and cash equivalents improved to $33.7 million from $19.6 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Revenue Decline
- Q1 2026 revenue dropped 34.3% to $94.1 million from $143.3 million in Q1 2025, primarily affecting grill sales.
- 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.
- Ongoing Tariff Uncertainties
- The legal status of tariffs remains volatile, affecting product costs and supply chain dynamics, especially with 80% production in China.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.49
- Gross margin
- 45.7%
- Operating margin
- -1.1%
- Segment
- Grills: $47.4M
- Segment
- Consumables: $26.1M
- Segment
- Accessories: $20.6M
What they said about what is next.
Reiterates full-year revenue guidance of $465-$485 million.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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