Why Traeger Stock Got Smoked Today

Pellet grill maker Traeger (NYSE:COOK) is going into the weekend on a bum note. The barbecue stock fell by nearly 6% after the company published its latest set of quarterly results.

So what

In Traeger’s second quarter, the company earned $213 million in revenue, which was 39% higher than in the same period of 2020.

However, it flipped to a GAAP net loss of $4.9 million, or $0.05 per one of Traeger’s common units, quite some distance below the $9.3 million profit of Q2 2020. On a non-GAAP (adjusted) basis the company’s bottom line was in the black, but at $16.5 million ($0.15 per unit) this was well under the $27.8 million in the year-ago period.

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