Traeger Q1 Takeaways – Flatrock is a Hit, Lower Freight is Helping Margin

Traeger reported Q1 2023 earnings after the market closed yesterday, and exceeded their guidance. I feel like we’ve beaten inventory to death, but their update was the same as everybody else, they’re working through it and expect normalization in the second half.

Innovative Products

To much fanfare, Traeger released a new Ironwood and their flattop grill, the Flatrock in Q1. They said on their earnings call that the social media response was much greater than their expectations, with associated sell-through.