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EPS of $0.04 came in better than the consensus estimate of ($0.02). Revenue fell 14.4% year-over-year to $171.5 million, beating the consensus estimate of $154.89M.
Grills revenue decreased 20.9% year-over-year to $93.1M, and consumables decreased 17.1% to $34.9M. Accessories were down 7.4% year-over-year to $43.5M.
The company raised its revenue and adjusted EBITDA guidance for the full 2023 year. Revenue is expected in the range of $585-$600M, above the consensus of $575.51M. Adjusted EBITDA is seen at $55-$59M.
Telsey Advisory Group analysts upgraded the stock to Outperform, citing 4 reasons:
Telsey’s new price target on COOK stock is $6.50 per share.
Additional reporting by Senad Karaahmetovic
