Traeger (NYSE:COOK) stock is rising higher on Thursday after releasing its earnings report for the second quarter of 2023!
The good news for COOK stock starts with its adjusted earnings per share of 4 cents. That easily beats out Wall Street’s estimate of -2 cents for the quarter. It’s also better than the 3 cents per share reported in the same period of the year prior.
To go along with that is the company’s revenue of $171.5 million. That’s another win for COOK stock compared to analysts’ revenue estimate of $154.89 million. Even if it represents a 14.4% decrease year-over-year from $200.3 million.
Jeremy Andrus, CEO of Traeger, said the following in the earnings report.
“In the second quarter, we delivered results that were ahead of our expectations and grew adjusted EBITDA, even as our sales were pressured by retailer destocking and lower consumer demand. I am pleased with the significant progress we have made in improving our financial positioning over the last several quarters.”
COOK Stock Outlook
Traeger also includes guidance for the full year of 2023 in its latest earnings report. It’s expecting revenue for the period to range from $585 million and $600 million. That’s looking good next to Wall Street’s estimate of $575.51 million for the year.
COOK stock is up 28.2% as of Thursday morning.
Investors seeking out more of the most recent stock market news will want to keep reading!
We have all of the latest stock market coverage that traders need to know about on Thursday. Among that is what has shares of Fangdd Network (NASDAQ:DUO) stock, the biggest pre-market stock movers this morning, and more. You can find all of that at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
