The boom during the corona pandemic is followed by a hard landing for Traeger. The stock has lost much of its value since going public just over a year ago. The disappointing quarterly figures released by the grill maker this week also halted the recent recovery.
Traeger’s second-quarter revenue was $200 million, down 6 percent from the same period last year. The company also fell short of the $221 million that analysts had expected. The grill maker saw the most significant decline in North America, where sales were eight percent below those of Q2 2021. Although international business posted an increase of 38 percent, in the previous quarter it was still almost 76 percent growth.