Traeger (COOK) Drops 9% Following First Results as a Public Company

Traeger, Inc. (NYSE: COOK) shares are down around 9% after-hours following the company’s reported Q2 results. The company, which provided its quarterly earnings for the first time since its IPO on July 29, delivered an EPS of ($0.05), missing the Street estimate of $0.04.

Quarterly revenue came in at $213 million, representing year-over-year growth of 39.1%. According to Jeremy Andrus, CEO of Traeger, the company saw strong performance across regions and product categories, with North America revenue growing 36.1% and Rest of the World revenue growing 163.0% year-over-year. Andrus also highlighted the exceptional growth in Canada as the company optimizes its sales and marketing strategy following the acquisitions of its two Canadian distributors in late 2020.

The company provided a full 2021-year outlook, expecting revenue of $760-770 million, versus the consensus of $754.82 million.

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