I've been following several of their last couple conference calls, and they have spoken a lot about where they see future growth coming from.
Emerging markets keep growing quickly - at double the rate of established markets.
They are expanding into new retail channels like REI and Best Buy.
Lots of cost savings (especially in-bound freight) from the new Poland plant that is in the process of coming on line.
Direct to Customer has been growing steadily. Places like weber.com and their own Weber stores.
New products like Weber Traveler, Weber Crafted, Smokefire Stealth, 70th anniversary, new Genesis line with larger cooking area and built in lights
1952 Ventures which is looking for bolt-on acquisition opportunities.
Personally, I think their biggest hopes are being pegged on Weber Connect, and their June Life acquisition. They have mentioned that there are 40 million millennials who will soon be turning 35, settling down, and getting ready to buy grills. Weber is going all in on the technology stack, trying to appeal to these millennials. If you look at the June Oven, it is pretty impressive with things like internal HD camera that monitor your food and stream it to your phone. Perhaps the holy grail of profitability is June's $10/mo subscription service that lets you order new June Oven recipes to your oven. My guess (*suspicion*) is that the long game for Weber is to develop a compelling enough Weber Connect product to eventually justify a $10/mo subscription service. To be clear - they haven't mentioned this on any of the calls - but I feel certain that it has got to be the end game from their June Life purchase.
I can't really give much of an opinion about these plans because I am a charcoal/wood guy through and through, and have zero interest in any grill that requires an outlet or LP tank (I wish they made a solar powered Signals and Billows). Execution will be really critical for these long term ventures to be successful. We already saw how difficult a time they had with the Gen 1 Smokefire (although to be fair, everyone seems to really like the Smokefire now that they worked out the kinks).