Traeger, Inc. (NYSE:COOK) shares surged more than 18% yesterday after the company reported its Q1 results, with EPS of $0.04 coming in better than the Street estimate of $0.02. Revenue was $153.2 million, in line with the Street expectations.
The company’s start to 2023 went largely as expected with the business impacted by retailer inventory rightsizing, which will continue into Q2. Management’s assumptions for the balance of the year remain intact and led to the full-year guidance being reiterated.
The company provided its outlook for the fiscal 2023 year, expecting revenue to be in the range of $560-$590 million, compared to the Street estimate of $578.6 million.