| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 94.07 | 34.4% |
| Total Income | 94.07 | 34.4% |
| Expenditure | 95.09 | 32.0% |
| PBT | 2.65 | 211.3% |
| Net Profit | 2.93 | 475.6% |
| OPM | -1.09% | 3.47pp |
| NPM | 3.11% | 3.66pp |
| EPS | 1.08 | 10900.0% |
Traeger Announces Q1 2026 Results; Raises Adjusted EBITDA and Gross Margin Outlook
12 May 2026 · 12 May, 1:47 am
Summary
Traeger announced its financial results for the first quarter ended March 31, 2026. Total revenues decreased by 34.3% to $94.1 million, while grill revenues decreased by 45.4% to $47.4 million. The company reported a net income of $2.9 million, or $1.08 per diluted share, and an adjusted EBITDA of $17.3 million. Traeger is raising its Adjusted EBITDA and gross margin outlook for the full year while reiterating its revenue guidance, reflecting the recognition of an IEEPA tariff refund and market observations.
Key Highlights
- 1
Traeger's total revenues decreased by 34.3% to $94.1 million in the first quarter of 2026.
- 2
Grill revenues decreased 45.4% to $47.4 million compared to the first quarter last year.
- 3
The company reported a net income of $2.9 million, or $1.08 per diluted share, for the quarter.
- 4
Adjusted EBITDA for the first quarter was $17.3 million.
- 5
Gross margin was 45.7% in the first quarter, which includes a $12.4 million benefit from an IEEPA tariff refund.
- 6
The company is raising its Adjusted EBITDA and gross margin outlook for the full year 2026 while reiterating its revenue guidance.
- 7
Operating cash flow was $17.9 million, and free cash flow was $14.5 million for the quarter.
Management Comments
Jeremy Andrus
“We entered the peak selling season with encouraging early demand signals, including year-to-date consumer sell-through tracking slightly above our expectations and continued strong engagement across the Traeger community. We’re leaning into demand creation with increased influencer investment to help translate that momentum into strong retail performance.” “Innovation remains central to our strategy to expand household penetration, and we’re continuing to refresh our lineup to meet consumers where they are on both features and price. This includes the launch of Westwood and the recently announced Irontop, along with focused programs with our retail partners to convert interest at the point of sale and deliver an elevated consumer experience." “At the same time, Project Gravity remains on track and is helping us sharpen priorities, simplify the business, and improve the durability of our profit model, while creating capacity to invest in brand, innovation and retail execution. Based on our first quarter performance, including the recognition of an IEEPA tariff refund and what we're seeing in the marketplace, we are raising our Adjusted EBITDA and gross margin outlook for the full year while reiterating our revenue guidance. The benefit is fully reflected in our updated outlook, with partial offsets from continued MEATER competitive pressure, macro headwinds, and broader tariff uncertainty, and we expect to provide a more detailed update on the Q2 call,
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