Traeger is losing money

[Jrp]

Wanna know why Traeger customer service is so reluctant to offer solutions -

From Traeger's second quarter financial results -

• Grills (sales) decreased 24.6% to $117.7 million as compared to the second quarter last year. The decrease was primarily driven by lower unit volume, partially offset by a higher average selling price resulting from price increases taken in the second half of 2021 and early 2022.
• Net loss was $132.3 million in the second quarter, or a loss of $1.12 per diluted share, as compared to net loss of $4.9 million in the second quarter of last year, or $0.05 per diluted share.
• Reducing expenses. The Company has undertaken an extensive review and prioritization of its cost structure. This review has lead to the implementation of cost optimization initiatives, including the closure of Traeger Provisions and a reduction in workforce in July 2022. The Company expects these initiatives to generate annualized cost savings of $20 million.

About Traeger
Traeger, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, an outdoor cooking system that ignites all-natural hardwoods to grill, smoke, bake, roast, braise, and barbecue. Our grills are versatile and easy to use, empowering cooks of all skill sets to create delicious meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. Grills are at the core of our platform and are complemented by Traeger wood pellets, rubs, sauces and accessories.

For those that have grills like mine that are defective but Traeger will do nothing about it, do you agree you can "grill, smoke, bake, roast, braise, and barbecue?"

 

[Murphy's Law]

Well let's see...

I grilled a steak, I smoked pork, beef, etc, I have baked a pizza, I roasted some potatoes and cauliflower, I have braised some short ribs in a Dutch oven, and I have added some BBQ sauce on my ribs.

So yeah, I do.

For my steak I did a reverse sear and used a cast iron skillet at high heat, and I have tried grill grates.

Smoked meat is pretty much self-explanatory.

I roasted the veggies in a disposable aluminum pan.

Like I said, I braised in a Dutch oven. Hell, all you need is heat and pellets burn, which...well, makes heat.

For pizza I used a pizza stone.

Do I think Traeger is the ideal grill for ALL of these and do I still use my Traeger to do all of the above? No, but that isn't the question you asked.

Regarding the loss, not surprised. The market boomed during the lock downs when all you could do WAS grill, and I believe the entire industry has seen this across the board.

 

[tomhooper]

Mine works fine as long as I know its limitations. I don't use the on board thermostat or probe. I have it to replace my offset which I've gotten too old and lazy to tend all night. Mainly for smoking meat. I have done a few pizzas on it using a stone.

 

[RayClem]

Once COVID lockdowns were over, people were anxious to travel and eat at restaurants. Cooking at home was no longer a priority. Now with prices for energy and food much higher than a year ago, many people just do not have extra income to spend on expensive Traeger grills. They might opt for a cheap gas or charcoal grill instead. If they have enough cash for the grill, they might not be able to afford $100 to purchase a packer brisket to smoke on it.

 

[M.Wong]

Not here to stir the pot, I respect that not everyone loves their Traeger or they hoped/expected it would do more. My Traeger plus a Weber gas grill work perfect for my needs. However, after reading how unhappy some people are, my next project will be to master that pineapple upside down cake.

I don't even like pineapple upside down cake. I had to Google it because I have never looked for a Traeger cake recipe.

 

[Jrp]

Glad to hear many are able to get good results from their unit, I cannot because mine is defective and Traeger will do nothing about it.

 

[MidwestSmoker]

Glad to hear many are able to get good results from their unit, I cannot because mine is defective and Traeger will do nothing about it.

I understand your frustration, but the issue is that Traeger probes are inaccurate and this has been known for a long time. We can have a debate on why this is the case, but I believe it is because making accurate probes is a specialized skill which Traeger and most other grill manufacturers don't have. What some of them have done is work with specialized probe companies. The best example of this are Yoder and Lone Star, both of whom have worked with FireBoard to integrate their probes into their grills. But these are very expensive options that few can afford. It is so much cheaper to just buy the FireBoard probes and use them on the Traeger, as many of us do, and the combination works very, very well: https://www.fireboard.com/shop/fireboard-2/

If you think that buying FireBoard is too expensive after paying well over a thousand dollars for an Ironwood 885, then there is a cheaper option which has almost all the capabilities of the FireBoard. The Inkbird is used by many here and it is only $50 after clipping the 50% off coupon: https://www.amazon.com/Inkbird-Thermometer-Rechargeable-Wireless-Calibration/dp/B07XNTJKY4

If you can get over your disappointment and buy one of the above the Traeger will give you much enjoyment.

 

[Torstenlaw]

As a guy in sales, sometimes you can't make a customer happy. It happens and it's to bad it does.

 

[M.Wong]

Challenge, ACCEPTED!

So yeah, I did this today. It took about 55 mins instead of the 40 on the Traeger recipe, turned it 90 degrees at 20 and again at 40 mins.

Cooked evenly and completely, came out very moist, tasted good enough to share with the neighbors!

I put the #1 grill probe on the right near the Traeger one, the #2 (a food probe) on the back left.

The two sensors showed different temps but fluctuated consistently (parallel lines).

So yes, while I didn't know it was a thing, I can bake in my Traeger!

 

[RayClem]

Challenge, ACCEPTED!

So yeah, I did this today. It took about 55 mins instead of the 40 on the Traeger recipe, turned it 90 degrees at 20 and again at 40 mins.

Cooked evenly and completely, came out very moist, tasted good enough to share with the neighbors!

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I put the #1 grill probe on the right near the Traeger one, the #2 (a food probe) on the back left.

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The two sensors showed different temps but fluctuated consistently (parallel lines).

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So yes, while I didn't know it was a thing, I can bake in my Traeger!

Yes, first and foremost, the Traeger is a convection oven. Now you have acquired a new skill, that of baker.

I know you said in your earlier post that you did not like Pineapple upside down cake. Did you change your mind after this desert turned out so nicely?

What is next for your baking plans?

I love baking bread, but normally use a bread maker for the entire process. There is a mode that will knead the dough, but then allows you to remove the dough to bake it in the oven. I am going to have to see how it does on the Traeger.

 

[RayClem]

As a guy in sales, sometimes you can't make a customer happy. It happens and it's to bad it does.

The goal of every business is to make a profit. Satisfying customers is a necessary part of doing that. Sometimes you run into customer's who are impossible to satisfy. You will never make a profit from your relationship with those customers, so you might be better of losing them to a competitor. The exception to that is if you are convinced that the dissatisfied customer is right and you think many customers will benefit by your making changes.

 

[MidwestSmoker]

I love baking bread, but normally use a bread maker for the entire process. There is a mode that will knead the dough, but then allows you to remove the dough to bake it in the oven. I am going to have to see how it does on the Traeger.

Have you considered the "no knead" method? I found this by accident and now this is the only way I make bread (and also pizzas). The only downside is that it takes over a day for the dough to rise.

Also, if you have a dutch oven consider baking your bread inside (and placing the dutch oven in the Traeger). The dutch oven traps the moisture, which is essential for bread baking.

 

[M.Wong]

I know you said in your earlier post that you did not like Pineapple upside down cake. Did you change your mind after this desert turned out so nicely?

I definitely have to reevaluate, it was good!! I’m going to try some new things. Maybe cornbread next???

 

[RayClem]

I definitely have to reevaluate, it was good!! I’m going to try some new things. Maybe cornbread next???

Cornbread is great with BBQ.

Some recipes are sweet, almost like dessert. Others are more like bread.

 

[halerson]

Wanna know why Traeger customer service is so reluctant to offer solutions -

From Traeger's second quarter financial results -

• Grills (sales) decreased 24.6% to $117.7 million as compared to the second quarter last year. The decrease was primarily driven by lower unit volume, partially offset by a higher average selling price resulting from price increases taken in the second half of 2021 and early 2022.
• Net loss was $132.3 million in the second quarter, or a loss of $1.12 per diluted share, as compared to net loss of $4.9 million in the second quarter of last year, or $0.05 per diluted share.
• Reducing expenses. The Company has undertaken an extensive review and prioritization of its cost structure. This review has lead to the implementation of cost optimization initiatives, including the closure of Traeger Provisions and a reduction in workforce in July 2022. The Company expects these initiatives to generate annualized cost savings of $20 million.

About Traeger
Traeger, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, an outdoor cooking system that ignites all-natural hardwoods to grill, smoke, bake, roast, braise, and barbecue. Our grills are versatile and easy to use, empowering cooks of all skill sets to create delicious meals with a wood-fired flavor that cannot be replicated with gas, charcoal, or electric grills. Grills are at the core of our platform and are complemented by Traeger wood pellets, rubs, sauces and accessories.

For those that have grills like mine that are defective but Traeger will do nothing about it, do you agree you can "grill, smoke, bake, roast, braise, and barbecue?"

Mine is defective as well, and I can't get Traeger support to do anything other than tell me they're sorry they can't (won't) help.