Copyright Investor's Business Daily
Kitchen and household appliance maker SharkNinja (SN) on Thursday beat estimates for the third quarter and raised its guidance for the full year. SharkNinja stock jumped in early trading. The Needham, Mass.-based company earned an adjusted $1.50 a share on net sales of $1.63 billion in the September quarter. Analysts polled by FactSet had expected earnings of $1.32 a share on sales of $1.6 billion. On a year-over-year basis, SharkNinja earnings rose 24% while net sales increased 14%. For the full year, SharkNinja now expects sales to increase 15% to 15.5%, above its prior guidance of 13% to 15% growth. It also raised its target for adjusted earnings for the year to $5.05 to $5.15, reflecting a 15.6% to 17.8% increase over 2024. Wall Street was modeling full-year adjusted earnings per share of $5.10 on sales of 6.35 billion, up 14.8%. In premarket trades on the stock market today, SharkNinja stock rose more than 10% to 94.92. That would still be below the 200-day and 50-day moving averages. "SharkNinja delivered another quarter of exceptional performance with 14.3% net sales growth, reinforcing our position as a global leader in innovative consumer solutions," Chief Executive Mark Barrocas said in a news release. "The strength of our diversified portfolio was evident with broad-based growth across all product categories, highlighted by the outstanding 56.7% growth in Beauty and Home Environment." The company's other product categories are cleaning appliances, cooking and beverage appliances, and food preparation appliances. Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. YOU MAY ALSO LIKE: Spotify Rocks Q3 Financial Beat, But Gives Mixed Outlook Timing-Chip Maker SiTime Clocks In With Q3 Beat Discover Profitable Trades Each Day With MarketDiem. See How. Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens
