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On May 20, 2025, Traeger, Inc., a Delaware-incorporated household appliances company with a market capitalization of $187 million, held its annual meeting where stockholders voted on pivotal company matters. The company’s stock has faced challenges, trading near its 52-week low of $1.28 and declining over 53% in the past six months. The event, detailed in the company’s proxy statement from April 7, 2025, included the election of Class I directors and the ratification of the company’s independent registered public accounting firm.
The election saw three nominees appointed as Class I directors, each set to serve until the 2028 annual meeting. Jeremy Andrus received 110,350,584 votes for and 3,059,240 withheld, with 9,991,149 broker non-votes. Wendy A. Beck was elected with 109,141,005 votes for, 4,268,819 withheld, and the same number of broker non-votes. Daniel James secured his position with 109,837,658 votes for, 3,572,166 withheld, and broker non-votes identical to the other nominees.
The second proposal concerned the ratification of Ernst & Young LLP as Traeger, Inc.’s independent auditors for the fiscal year ending December 31, 2025. The firm’s appointment was confirmed with an overwhelming majority of 123,064,669 votes for, 266,440 against, and 69,864 abstentions.
These results reflect the stockholders’ confidence in the direction of the company’s governance and their approval of the accounting firm’s role in financial oversight for the upcoming fiscal year. The decisions made at the Annual Meeting are expected to guide Traeger, Inc. through the next stages of its corporate trajectory.
This report is based on the company’s recent filing with the Securities and Exchange Commission.
In other recent news, Traeger Inc. reported its first-quarter 2025 earnings, surpassing analysts’ expectations with earnings per share (EPS) of $0.05, compared to the forecast of $0.04. However, the company’s revenue for the quarter was $143 million, which was slightly below expectations and marked a 1% decline year-over-year. Grill sales saw a notable increase of 13%, while the accessories segment experienced a significant revenue drop of 27%. Traeger has also announced a restructuring plan aimed at enhancing profitability and cash flow by streamlining operations and reducing the workforce, although specific cost details are yet to be finalized. S&P Global Ratings revised Traeger’s outlook from stable to negative due to tariff-related challenges, maintaining a ’B-’ rating. These tariffs, particularly those affecting Chinese and Vietnamese imports, pose a risk to the company’s credit metrics over the next 12 months. Telsey Advisory Group adjusted its price target for Traeger from $2.50 to $2.00, maintaining a Market Perform rating, citing potential industry headwinds and tariff impacts. Traeger has withdrawn its full-year guidance for 2025 to focus on mitigating tariff impacts and managing inventory.
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