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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 on the news. 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 of $5.10 a share on sales of $6.35 billion, up 14.8%. "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. SharkNinja Stock Rises After Report On the stock market today, SharkNinja stock rose 6.4% to close at 91.90. However, that is still below its 50-day and 200-day moving averages. In an interview with Investor's Business Daily, Barrocas highlighted the company's strong growth, despite a challenging macroeconomic environment. He also noted the company's international expansion efforts in Europe and Latin America. In the third quarter, SharkNinja's international sales rose 26% year over year. Plus, the company is keeping its innovation streak going by reinventing the outdoor fire pit category with the Fireside360 Outdoor Heater and Firepit, he said. SharkNinja also recently launched a cordless stain-removal device for carpets and furniture called the Shark StainForce, Barrocas said. Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. YOU MAY ALSO LIKE
