Q3 2025 Traeger Inc Earnings Call Transcript
Key Points
- Traeger Inc (COOK) reported a 3% increase in sales to $125 million, driven by growth in grills and consumables categories.
- Adjusted EBITDA rose by 12% to $14 million, reflecting successful expense reduction initiatives.
- The company is confident in its ability to offset approximately 80% of its $60 million tariff exposure through supply chain efficiencies, production diversification, and cost management.
- Project Gravity is expected to deliver $50 million in run rate cost savings, with $30 million from phase one and $20 million from phase two.
- Traeger Inc (COOK) is seeing strong performance in its consumables segment, with a 12% revenue growth, driven by positive sell-through of pellets and expanded distribution.
- Gross profit margin contracted by 360 basis points to 38.7% due to tariffs and supply chain pressures.
- The company recorded a $75 million non-cash impairment charge related to a decrease in stock price and market capitalization.
- Net loss for the third quarter was $90 million, compared to a net loss of $20 million in the prior year.
- Traeger Inc (COOK) is exiting certain unprofitable channels, including the Costco roadshow and direct-to-consumer sales on its website, which may lead to a short-term revenue decline.
- The accessories business saw a 4% decline, driven by lower meter revenues, and the company anticipates continued short-term pressure in this segment.
Hello everyone and welcome to the Trager 3rd quarter fiscal 2025 earnings conference call. My name is Charlie and I'll be coordinating the call today. You'll have the opportunity to ask a question at the end of the presentation. If you'd like to register your question, please press star, followed by one on your telephone keypads. I'll now hand over to our host, Nick Bus, Vice President of Investor relations, Treasury, and capital markets at Trager to begin.
Nick, please go ahead.
Good afternoon, everyone.
Thank you for joining Trigger's call to discuss its 3rd quarter of 2025 results, which were released this afternoon and can be found on our website at investors.trigger.com. I'm Nick Backus, Vice President of Investor Relations, Treasury, and capital markets at Trigger. With me on the call today are Jeremy Andres, our Chief Executive Officer, and Joey Hoard, our Chief Financial Officer.
Before we get started, I want to remind everyone that management's remarks on this
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