Grill maker Traeger drops after soft outlook, CFO transition

Shares of wood pellet grill maker Traeger Inc COOK.N down 2.8% premarket to $2.10, a six-mth low, after downbeat 2025 forecasts and finance chief change

Salt Lake City, Utah-based firm late Thurs reported Q4 total rev grew 3% y/y to $168.6 mln, topping Wall Street consensus of $164.8 mln, per LSEG data

Grill rev increased 30% from a yr ago to $78 mln, driven by higher unit volumes, partially offset by avg selling price decrease, co said

Adj EBITDA in qtr of $18.4 mln up from $13 mln, and above analysts' expectations of ~$17 mln

For 2025, co sees total rev of $595-$615 mln and adj EBITDA of $75-$85 mln, missing analysts' views of $628.2 mln and $88.4 mln, respectively

Co also announced CFO Dominic Blosil would step down and be succeeded by Joey Hord, who is currently its senior VP of finance and strategy

Blosil to provide transition support through the end of 2025, co said

Reacting to report, Canaccord Genuity cut PT from $7 to $5, and Morgan Stanley trims PT from $3 to $2.50

Jefferies, which rates COOK 'hold', said co's recovery continues to progress though uncertainty remains, given shift in consumer spending habits and unknown tariff implications

Though Thurs close, stock down ~10% YTD and has lost nearly 40% over the past six months