What to Expect From Traeger’s Upcoming Q2 Earnings?

RBC Capital analysts provided their outlook on Traeger, Inc. (NYSE:COOK) ahead of the company’s upcoming Q2 earnings release.

The analysts expect Q2 net sales of $229 million (vs. Street’s $221 million) and adjusted EBITDA of $23 million (vs. Street’s $18 million) and have a negative bias for numbers in the quarter and year.

While the analysts believe the Traeger brand is healthy within the broader outdoor cooking space, they think the combination of macro pressure, consumer mobility, and the reprioritization of discretionary dollars likely weigh on near-term category trends.

While the company’s shares have significantly underperformed over the past 3 months, the analysts remain cautious with consumers under pressure, the slowing of home-based discretionary items, and the company’s postponing of the Mexico manufacturing facility.